What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- DS Smith looks to deliver another year of double-digit profit growth
- Berkeley looks set to weather a challenging housing market
- Did Whitbread's early momentum carry through to the rest of the first quarter?
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FTSE 100, FTSE 250 and selected other stocks scheduled to report next week:
| 19-Jun | |
|---|---|
| NextEnergy Solar Fund | Full Year Results |
| 20-Jun | |
|---|---|
| No FTSE 350 Reporters | |
| 21-Jun | |
|---|---|
| Berkeley Group Holdings* | Full Year Results |
| GCP Infrastructure Investments | Half Year Results |
| Halfords* | Full Year Results |
| Liontrust Asset Management | Full Year Results |
| 22-Jun | |
|---|---|
| DS Smith* | Full Year Results |
| Urban Logistics REIT | Full Year Results |
| Whitbread* | Q1 Trading Statement |
| 23-Jun | |
|---|---|
| No FTSE 350 Reporters | |
*Events on which we will be updating investors.
DS Smith – Matt Britzman, Equity Analyst
Markets have already been given a hint of what to expect from DS Smith’s full-year results next week. Underlying EBITA (earnings before interest, tax, and amortization) is expected in the £850-£860m range, which would represent a big jump on the £616m generated the prior year.
Resilience in tough conditions has continued to hold it in good stead. Despite falling sales volumes, it remains on track for a second consecutive year of impressive double-digit profit growth. The demand picture into the new financial year will be key. Management’s previously hinted that they expect volumes to move higher, but that’s yet to materialise. We should get some commentary on order books next week, which will help paint a better picture for investors.
Take a step back from short-term noise and longer-term growth drivers look encouraging. The shift from plastic packaging isn’t going away anytime soon and as a key supplier of cardboard boxes to e-commerce groups, DS Smith is poised to benefit.
See the DS Smith share price, charts and our latest view
Berkeley – Aarin Chiekrie, Equity Analyst
Berkeley’s full-year results should shed light on how the housing giant is dealing with a challenging market. We’ve already heard that sales in the five months to the end of February were down around 25% from the prior five months. But thanks to resilient pricing across the group’s London-focused operations, full-year pre-tax profits are still expected to rise from £552m to around £600m next week.
However, more recent data from Halifax has shown the first annual decline in average UK house prices since 2012, which could put pressure on Berkeley’s top line going forward. That means controlling costs and maintaining margins will be a key priority from here. There’s been early signs of build cost inflation moderating, so we’re eager to hear if that trend has continued into the new financial year.
Berkeley’s London focus and higher-end product mean it offers something different from other large builders. And careful management of works-in-progress has fuelled expectations for net cash to come in at £375m - a near 40% jump on the £269m seen in the prior year. That should provide a big enough cushion to help smooth out future bumps in the road, but any significant miss on this front could bring shareholder returns into question.
See the Berkeley share price, charts and our latest view
Whitbread – Derren Nathan, Head of Equity Research
Premier Inn’s owner started the first quarter well. In the first seven weeks, UK sales were up 17% compared to last year, with hotels continuing to outperform the wider market. And in Germany, accommodation sales were up 140% reflecting the smaller size of the German business. Next week’s trading statement will provide some steer as to whether momentum continued for the rest of the quarter and beyond.
There are some signs across the wider market that UK hotels will benefit from a boost in staycations over the summer, but it’s too early to call. We’ll also be keeping an eye out for any changes to Whitbread’s UK cost inflation guidance which currently stands at 7% to 8% for the full year. The Group is expanding its footprint and expects to add between 2,500 and 3,500 rooms across the UK and Germany this year, so we’re keen to see how things are progressing on that front too.
See the Whitbread share price, charts and our latest view
Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.
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