The week ahead in business and finance – Telegraph.co.uk
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Monday April 25
Online gambling firm GVC Holdings will post revenue of €247.7m (£193m) for the year, alongside its first-quarter update.
City analysts have forecast earnings before interest, tax, depreciation and amortisation of around €53m. Simon French, of Cenkos, said such growth can be attributed to football results which have been “exceptionally good” for bookmakers across UK, Spanish and Turkish markets.
However, adverse foreign exchange headwinds may weigh on earnings. Investors will be keen to find out how the enlarged group is performing after its acquisition of bwin.party on February 1, as GVC has €110m of synergies to deliver on.
Its outlook will also be strong as the company is set to benefit from the Euro 2016 tournament.
Full-year results: London Capital Group, GVC Holdings, Allied Minds
Economics: BBA mortgage approvals (UK),Gfk consumer confidence (UK),new home sales (US)
Tuesday April 26
After online retailer Boohoo.com warned on profits last year, it has since delivered a strong recovery. Its full-year results are expected to see pre-tax profits come in around £1m ahead of expectations at £16.8m, while analysts have forecast sales of 191.6m for the year.
In January, management indicated revenue growth would come in around 30pc to 35pc ahead of the previous guidance, as trading was encouraging across all regions in the four months to the end of December.
David Reynolds, of Jefferies, said the results bring to an end “a critically important year”. This year’s revenue guidance is expected to be conservative.
Full-year results: Boohoo.com, Whitbread
Trading updates: British American Tobacco, Standard Chartered
Economics: Richmond manufacturing index (US),CB consumer confidence (US)
Wednesday April 27
Ahead of its first-quarter results, Barclays has already indicated that it will not be reporting on a bumper start to 2016. David Lock, of Deutsche Bank, expects this to be “a messy quarter in terms of judging expectations into numbers”.
It follows a restatement last week from the FTSE 100 bank, which incorporated changes to its business structure.
The simplified business now focuses on two core divisions, namely Barclays UK and Barclays Corporate & International. It also revealed its plans to sell down its 62.3pc stake in Barclays Africa.
Geopolitical and macroeconomic concerns have made for a challenging quarter for banks in the US and they are expected to hurt UK banks also.
Full-year results: Home Retail Group Interim results GlaxoSmithKline
Trading updates: Barclays, London Stock Exchange Group, Amec Foster Wheeler, Antofagasta
Economics: Preliminary GDP q/q (UK),FOMC statement (US),federal funds rate (US)
Thursday April 28
A solid trading update is expected from Taylor Wimpey on Thursday when it will publish its interim management statement.
Investors will be keen to find out how trading in the capital has been since the launch of the London Help-to-Buy scheme, which is expected to have boosted demand for units under £600,000. Sales for the year are forecast to come in at £3.5bn, while pre-tax profit is anticipated to be around the £705m mark.
Shares have fallen around 15pc so far this year as a cocktail of concerns grips the sector, including the EU referendum, margin pressures and deflation.
But Charlie Campbell, of Liberum, said: “We think the sector would now rally on a remain vote, but may fall further if rates rise and GDP slows in the event of a leave decision”.
Trading updates: Taylor Wimpey, Schroders, Lloyds Banking Group
Economics: Advanced GDP q/q (US),unemployment claims (US),unemployment rate (GER)
Friday April 29
British Airways owner IAG will publish its interim results and investors will be hoping for more bullish comments from chief executive Willie Walsh. In February, the boss of the airline forecast a 40pc jump in profits for the year, as he plans to steer the FTSE 100 company to further growth.
The airline is expected to reap the benefits of lower fuel prices and its long-term strategy of reducing costs. Earlier this month, IAG, whose portfolio also includes Iberia and Aer Lingus, said traffic had increased by 13.9pc year-on-year.
Investors will also hope for more information on IAG’s talks with two Chinese airlines, China Eastern Airlines and China Southern, to start code-sharing flights between Europe and China.
Interim results: Shire, IAG, AstraZeneca
Trading update: Royal Bank of Scotland Group
Economics: M4 money supply m/m (UK),Chicago PMI (US)
The week ahead in business and finance – Telegraph.co.uk}