Welcome to the week ahead, our summary of the forthcoming key company announcements. Companies are no longer obliged to notify the London Stock Exchange (LSE) of results and trading updates, so this list does not claim to be comprehensive. You can read company announcements at http://announce.ft.com and our daily online news summaries record all key company announcements and business press headlines.
Monday 18 November
Interims: Latchways, Majestic Wine, Mitie
Final: Diploma
Trading statements: Cape, Kentz Corporation, Origin Enterprises, Petrofac, Unite
AGMs: Amur Minerals, Origin Enterprises, Regency Mines
EGMs: Microgen, Origin Enterprises, Pan European Terminals
Economics: Rightmove house prices data
Companies paying dividends: TR European Growth Trust (6p), TR European Growth Trust - special (2p)
Tuesday 19 November
Interims: Big Yellow Group, Carclo, CML Microsystems, Eckoh, Entertainment One Group, Halma, Homeserve, Mckay Securities, Renold, Sepura, Vectura
Finals: easyJet, Enterprise Inns, Superglass Holdings
Trading statements: Amec, Chesnara, Clarke T, DRS Data & Research Services, FBD Holdings, Galliford Try, ITV, Keller, Smiths Group
AGMs: Berkeley Resources, Galliford Try, Red Emperor Resources, Smiths Group, Town Centre Securities, Wasabi Energy
EGMs: INVU, PV Crystalox
Companies paying dividends: Intu Properties (5p)
Does Big Yellow Group (BYG) deserve its punchy stock market rating? The answer depends on the self-storage company's capacity to turn the nascent recovery in both the housing market and the broader UK economy into store-filling lets - evidence for which may emerge with the group's half-year figures on Tuesday. The first-quarter trading update was broadly encouraging - albeit distorted by the introduction of VAT on self-storage in October 2012, which continues to depress year-on-year occupancy growth. Nonetheless, the total occupancy rate was 68.7 per cent at end-June - up from 65.7 per cent a year before. Self-storage companies in the more mature US market operate at occupancy rates nearer 90 per cent and growth towards this level would imply strong earnings and dividend growth for Big Yellow. At 470p, the shares are well up on our former buy tip (295p, 19 July 2012) - which we exited back in January. But they now trade on 24 times broker Oriel Securities' adjusted EPS estimate of 19.5p for the year to end-March 2014. The company's recovery profile may well justify that multiple but, until we see the half-year numbers, we retain our hold stance.
Wednesday 20 November
Interims: Hyder Consulting, UK Mail
Final: Avon Rubber
AGMs: Allergy Therapeutics, Armor Designs, Ceramic Fuel Cells, Global Petroleum, International Ferro Metals, Regenersis, Sabien Technology
Economics: Bank of England Monetary Policy Committee meeting minutes
Companies paying dividends: Barratt Developments (2.5p), Henderson Eurotrust (12p), Proven Planned Exit (3p)
Thursday 21 November
Interims: Dart Group, Intermediate Capital, Investec, Johnson Matthey, Mothercare, National Grid, Paypoint, Qinetic, SABMiller, Youngs & Co's Brewery
Finals: Daily Mail & General Trust, Optos
Trading statements: Close Brothers, Intuit
AGMs: BHP Billiton, Continental Coal, Wildhorse Energy
EGMs: Chariot Oil & Gas, Mears Group, Quintain Estates & Development
Economics: Public sector net borrowing figures, Confederation of British Industry trends data - total orders and selling prices
Companies paying dividends: Hansteen Holdings (1.9p), Jupiter Dividend & Growth Trust (0.18p), Thorpe (F.W.) (2p)
Last month's trading update from brewing giant SABMiller (SAB) has already given investors a taste of what to expect when the group announces its half-year figures on Thursday. Following unexpectedly weak news from Unilever's (ULVR) emerging market operations in September, the City had been braced for similarly grim news from SABMiller - which earns about three-quarters of its profits in such emerging regions. But SABMiller's update revealed more resilience than anticipated, with volumes in such regions as Latin America and Asia Pacific having remained roughly flat, while volumes in Africa jumped 7 per cent. That said, weakness in emerging market currencies is still likely to adversely impact the figures, and trading conditions in Europe and North America remain fairly fragile. Meanwhile, the shares - at 3,219p - now trade on 21 times Numis Securities' full-year forecast earnings; pricey compared to those of such rivals as Carlsberg (CARL) or Anheuser-Busch InBev (ABI). Certainly, the long-term growth profile of SABMiller's emerging markets isn't really in doubt, but, shorter term, currency-driven weakness there could still hurt. We'll therefore stick with our sell tip (2,992p, 10 October 2013) until that danger has clearly passed.
Mothercare (MTC) will also report its half-year figures on Thursday and we already have some idea of what to expect. That's because the group released a second-quarter trading update last month, which reported a 1.9 per cent decline in UK like-for-like sales - better than consensus forecasts - and a 12.6 per cent rise in underlying international sales. However, there was a some disappointment in the gross margin, which was weaker than expected - reflecting the impact of warm weather at the start of the autumn/winter season, as well as promotional pressure in the home and travel side. Accordingly, analysts have downgraded their forecasts with Numis Securities having cut its full-year pre-tax profit estimate by around £2m to £17m, giving EPS of 14.8p (rising to 28.4p in 2015). Meanwhile, John Stevenson - a retail analyst at Peel Hunt - is expecting half-year pre-tax profit of £2m, compared to a £0.6m loss last year, the first half-year of profit since 2011. Margin pressure is certainly a worry and the shares, at 401p, are down on our speculative buy tip (441p, 1 August 2013). But a forward PE of 14, based on 2015's expected earnings, isn't so pricey for a retailer and there's plenty of recovery potential. Investors should hang in there. Buy.
Friday 22 November
Interim: Fuller Smith & Turner
Final: Future
AGMs: British Sky Broadcasting, Coal of Africa, Medusa Mining, Rialto Energy
EGM: Bglobal
Companies paying dividends: Arbuthnot Banking Group (special) (18p), Blackstar Group SE (0.5p), Bovis Homes (4p), Camkids Group (2.3p), City Merchants High Yield Trust (2.5p), Decra Pharmaceuticals (9.66p), Harvey Nash (1.238p), Howden Joinery (1p), Investment Co (5p), John Menzies (7.7p), NB Global Floating Rate Income Fund (0.89p), Octopus VCT (1p), Ricardo (10p), RSA Insurance (2.28p), Schroder Real Estate (0.62p), Smart Metering Systems (0.7p), Smiths Group (27p), Smiths Group (special) (30p), Ted Baker (9.5p), Walker Greenbank (0.28p)
Shares going ex-dividend on 20 November
| Company | Dividend(p) | Payment |
| Carnival Ord $1.66 | 15.65 | 13 Dec |
| Datatec Ord zar 0.01 | 4.9 | 02 Dec |
| Doriemus | 0.02 | 12 Apr |
| Edinburgh Dragon Trust | 2.2 | 20 Dec |
| Finsbury Food | 0.5p | 11 Dec |
| Genus Ord 10p | 11.1 | 06 Dec |
| Getech Group Ord 0.25p | 1.6 | 19 Dec |
| Gleeson (M.J.) Group Ord 2p | 2 | 20 Dec |
| Hill & Smith Holdings Ord 25p | 6 | 07 Jan |
| JPMorgan Elect Managed Income | 0.85 | 18 Dec |
| JPMorgan Elect Managed Growth | 2.25 | 18 Dec |
| London Finance & Investment Grp.5p | 0.4 | 11 Dec |
| Next Ord 10p | 36 | 02 Jan |
| Origin Enterprises €0.01 | 14.5 | 02 Dec |
| Prime People | 1 | 02 Dec |
| Redefine International 0.72p | 1.635 | 29 Nov |
| Tate & Lyle | 7.8 | 03 Jan |
| Witan Investment | 3.3 | 18 Dec |
The ex-dividend date is the first day on which it is no longer possible to buy the shares and qualify for the dividend. Ex-days are almost always a Wednesday. The record date is usually two days after the ex-date. The payment day is the day on which the funds are transferred to shareholders.
