Companies reporting this week

By THIS IS MONEY
Updated:

 

THE recent rush of company results will continue this week with figures from a range of sectors, in particular from those in high street banking. Chocolate-to-soft drinks group Cadbury Schweppes, which reports full-year results on Wednesday, issued an encouraging trading statement in December, indicating the group was seeing positive business in Australia and North America in the run up to Christmas.

However, it also indicated that the second half of 2003 would record a similar result to the first half and that the weakness in the US dollar would depress earnings by around 2%.

B&Q owner Kingfisher warned of a slowdown in fourth-quarter trading last year, driven in part by weakening consumer spending growth and strong comparative growth from the previous year.

Analysts expect a fourth-quarter trading statement on Wednesday to show like-for-like sales growth of more than 3% in its UK retail division, given that industry data released in January pointed to a solid DIY market. New space at B&Q should mean that total sales increased by 8%.

Half-year results from Diageo on Thursday should show that spirits trading in the US has been satisfactory with the group's premium brands such as Smirnoff vodka and Captain Morgan rum performing well. Pre-tax profits are expected to be £1.3 billion against £1.29 billion a year ago.

The London market will be trying to gauge the level of organic growth at Royal Bank of Scotland when it reports its final results on Thursday with pre-tax profits of £7bn expected against £6.45bn a year ago.

As with other banks, good dividend growth is anticipated and RBS may choose to announce the start of a share buyback programme, indicating that a US deal - feared to be value destroying - is less imminent.

Analysts are not expecting any surprises when Alliance & Leicester posts its annual results on Friday, with the banking group set to post pre-tax profits of £520m compared with £463m a year ago.

Investors will focus on revenues growth for evidence of a slowdown in the core retail business and an indication of whether the 4% revenue growth target will be missed in the current financial year.

Biotech group Amersham is set to reveal a decline in pre-tax profits to £291m from £300m last year when it posts its final results on Tuesday. The figures are set to be the last before the company merges with US-based energy giant General Electric after regulatory clearance was given for the deal by the European Commission last month.

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