THE WEEK AHEAD
Today
At this morning’s results for Bluetooth technology firm CSR, investors will be looking at how much value the company’s acquisition of peer Zoran in August last year brings. CSR is guiding that revenue for the first quarter will be between $230m and $250m (£145m and £158m), but analysts have a more cautious forecast of $211m.
Tuesday
Engineering consultant Amec is unlikely to surprise the markets, having delivered an in-line update last November. Analysts are expecting full-year revenues of £3.26bn and earnings per share of 71.3p for the company, which has been buoyed in recent months by contract wins in UK, Australia and South Africa. Also reporting is property investment and development company Segro.
Wednesday
Rexam is the FTSE 100 reporter to watch out for, and investors will want reassurance that chief executive Graham Chipchase was right when he said in November last year that the company expected 2012 to be “a year of further progress”. The market will also hear from housebuilder Barratt Developments and builders merchant Travis Perkins, which will update on the first half and full year respectively. FTSE 250 recruiter Hays has already announced a net fee income growth of eight per cent for the half year, but the profitability of its UK and Ireland business – which generates 36 per cent of group fees – will be under the spotlight after the second quarter saw it drop to -7 per cent. Plastic maker Filtrona, business consultancy Logica, and wealth manager St James’s Place will also release earnings.
Thursday
The headline writers will be watching Royal Bank of Scotland (see p4), which will release full-year figures, and British Gas-owner Centrica (see p12), which reports prelims. The spotlight will also be on British American Tobacco, which has proved its safe haven status in recent months with shares doubling to £30. Reserve runoff is likely to be the focus at insurer RSA, whose stock has suffered recently as investors remain cautious. Analysts are expecting consensus operating earnings before tax of £846m. On the continent, Germany’s Commerzbank and France’s Credit Agricole will provide more information on the health of Eurozone banks, while insurer Swiss Re will also report.
Friday
Lloyds Banking Group (see p4) is the one to watch, but investors will also be waiting to hear from bookmaker William Hill, expected to report consensus earnings before tax of £273m, and property developer Hammerson, which may update on its redevelopment of Croydon’s Centrale shopping centre.