What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Will Barratt Developments’ foundations remain solid?
- Experian should shed light on UK and US lending conditions
- Can PepsiCo continue to feed consumers with higher prices?
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FTSE 100, FTSE 250 and selected other stocks scheduled to report next week:
| 10-July | |
|---|---|
| No FTSE 350 Reporters | |
| 11-July | |
|---|---|
| Dechra Pharmaceuticals | Trading Statement |
| 12-July | |
|---|---|
| J D Wetherspoon* | Trading Statement |
| ME Group International | Half Year Results |
| PageGroup | Q2 Trading Statement |
| Tullow Oil | Trading Statement |
| 13-July | |
|---|---|
| Barratt Developments* | Full Year Trading Statement |
| Experian* | Q1 Trading Statement |
| Hays | Q4 Trading Statement |
| John Wood Group | Half Year Trading Statement |
| PepsiCo* | Q2 Results |
| 14-July | |
|---|---|
| Ashmore Group | Q4 Assets Under Management Statement |
| Burberry Group* | Q1 Trading Statement |
| Ninety One | Q1 Debt Management Statement |
*Events on which we will be updating investors.
Barratt Developments – Aarin Chiekrie, Equity Analyst
Next week’s trading statement will give us an early peek into Barratt Developments’ full-year performance. We could expect to see that lower reservation rates across last year led to a slowdown in the number of completions. But the pullback on construction and land spend, should have helped the group’s net cash position to rise from the £600m we saw in May, to a mammoth £900m.
Barratt’s already guided for pre-tax profits to land in at around £877m, down from £1.1bn in the prior year. This comes with the backdrop of higher selling charges and elevated build cost inflation, the latter of which ran hot at 9-10%, which have both acted to squeeze margins. Build cost inflation was expected to ease to around 5% this year, and we’re keen to hear if there’s been any change on this front in next week’s update.
See the Barratt Developments share price, charts and our latest view
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Experian – Matt Britzman, Equity Analyst
First-quarter results from Experian should shed light on how lending conditions in both the UK and US are holding up, with implications that go far beyond Experian alone. Revenue guidance of 4-6% organic growth over the year is a clear sign that market conditions are softening. That’s not too surprising, as inflation and interest rates remain high.
Nonetheless, margins should remain resilient given the essential nature of various product lines adds pricing power - identity, credit and fraud checks are hardly something businesses can ditch altogether. In the longer term, the picture continues to remain a healthy one. As the world continues to digitise, the data-led solutions that Experian can offer businesses and consumers will likely act as ongoing growth drivers.
See the Experian share price, charts and our latest view
PepsiCo – Aarin Chiekrie, Equity Analyst
Second-quarter results will show us how well PepsiCo’s handling the pressure of rising input costs. Last quarter, we saw organic revenue grow 14.3% to $17.8bn reflecting strong growth across Europe and the Americas, driven largely by continued price hikes. And despite inflationary headwinds pushing up costs, improved sales and other cost management measures helped keep underlying operating profit growing at a faster pace.
After the impressive first quarter, Pepsi’s already bumped up its full-year organic revenue guidance from 6% growth to 8%. That signals that management’s confident it can continue feeding through price hikes to customers while seeing little drop off in volumes - credit to Pepsi’s laser-like focus on brand quality in recent years. But we’re curious to see just how quickly these price hikes will get phased on to customers. Raising prices too sharply could risk leaving a bad taste in consumers’ mouths, pushing loyal customers down the value chain towards cheaper alternatives.
See the PepsiCo share price, charts and our latest view
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