What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Forward bookings are front and centre for TUI
- Acquisition pipeline in focus for Halma
- Will Next's full-price sales land in line with expectations?
Among those currently scheduled to release results next week:
*Events on which we will be updating investors.
| 18-Sept | |
|---|---|
| Phoenix Group Holdings | Half Year Results |
| HgCapital Trust | Half Year Results |
| 19-Sept | |
|---|---|
| ASOS* | Trading Statement |
| Hargreaves Lansdown | Full Year Results |
| Kingfisher | Half Year Results |
| Moonpig | Trading Statement |
| Ocado Group - Retail* | Q3 Trading Statement |
| SThree | Q3 Trading Statement |
| TUI* | Trading Statement |
| 20-Sept | |
|---|---|
| Dunelm Group | Q4 Results |
| M&G* | Half Year Results |
| 21-Sept | |
|---|---|
| C&C Group | Q2 Trading Statement |
| CVS Group* | Full Year Results |
| Halma* | Trading Statement |
| JD Sports Fashion | Half Year Results |
| Next* | Half Year Results |
| Octopus Renewables Infrastructure Trust | Half Year Results |
| SSP Group | Q4 Trading Statement |
| 22-Sep | |
|---|---|
| Ascential | Half Year Results |
| Investec | Trading Statement |
*Events on which we will be updating investors
TUI – Sophie Lund-Yates, Lead Equity Analyst
Travel giant TUI has seen impressive momentum so far this year. Third-quarter revenue was up 19% thanks to a combination of higher customer volumes and higher prices. That suggests we could be in for a strong final instalment for the full year. With that in mind, there will be a strong focus on free cash flow after it dropped across the first nine months of the year.
While underlying operating profits are meant to be much better than last year, that doesn’t mean the coast is totally clear. As higher interest rates continue to dampen people’s borrowing power and increase their living costs, there will be a lot of attention on how bookings for the new financial year are shaping up. A sign of weakening or lack of detail here could see the market react negatively.
See the TUI share price, charts and our latest view
Halma – Matt Britzman, Equity Analyst
Halma’s essentially a mash-up of around 45 businesses working to provide technology solutions in the safety, health, and environmental markets. We’re not expecting any major bumps from Halma’s first-quarter trading update next week, but there are a couple of areas to watch.
Supply chain issues meant margins in the safety division came under pressure last year. We’ll be hoping to hear news that conditions have eased, and if so, margins in the division should begin to recover as the year progresses. Given a premium valuation, markets won’t react too kindly to any change from that narrative.
Acquisitions are key to Halma’s model, so news on how the pipeline’s shaping up will be closely watched. We’ve heard about three deals so far this year, totalling around £80m. Considering last year's annual spend was around £400m, and that just about got the group to its target of 5% inorganic profit growth, there’s pressure to deliver some positive commentary on the deal pipeline for the remainder of the year.
See the Halma share price, charts and our latest view
Next – Aarin Chiekrie, Equity Analyst
Fashion retailer, Next, has got into the habit of beating market expectations on the upside this year. In its most recent announcement, full-year pre-tax profit guidance got another small bump up to £845m, as online sales climbed at double-digit rates. We’re not expecting to see any more upgrades on this front in next week’s half-year results, but we’ll be keeping a close eye to make sure the full-price sales outlook remains on track. This is a key metric for Next, and arguably the main driving force behind overall performance.
Successfully keeping full-priced sales front and centre to avoid discounts is one of the reasons Next can boast some of the best margins in the sector. But it’s a tricky strategy to nail, especially alongside expanding its online presence and introducing third-party brands to its offering. This side of operations hasn’t been as efficient as we’d like, so we’ll be hoping to see signs of improvement here.
See the Next share price, charts and our latest view
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.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.
Share Insight: our weekly email
Sign up to receive weekly shares content from HL.
Please correct the following errors before you continue:
Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. We will not sell or trade your personal data.