What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Compass Group's 18% revenue growth target is in the spotlight
- Will Polar Capital half-year results get a frosty reception?
- Another record quarter expected for NVIDIA
Among those currently scheduled to release results next week:
*Events on which we will be updating investors
| 20-Nov | |
|---|---|
| Big Yellow Group | Half Year Results |
| Compass Group* | Full Year Results |
| Diploma | Full Year Results |
| Polar Capital Holdings* | Half Year Results |
| Sirius Real Estate | Half Year Results |
| 21-Nov | |
|---|---|
| Caledonia Investments | Half Year Results |
| Cranswick | Half Year Results |
| Nvidia* | Q3 Results |
| Petershill Partners | Q3 Trading Statement |
| Telecom Plus | Half Year Results |
| Workspace Group | Half Year Results |
| Worldwide Healthcare | Half Year Results |
| 22-Nov | |
|---|---|
| Britvic | Full Year Results |
| Coats Group | Trading Statement |
| Grainger | Full Year Results |
| HICL Infrastructure | Half Year Results |
| Johnson Matthey | Half Year Results |
| Kingfisher | Q3 Trading Statement |
| NextEnergy Solar Fund | Half Year Results |
| Rotork | Q3 Trading Statement |
| Sage Group | Full Year Results |
| Severn Trent | Half Year Results |
| 23-Nov | |
|---|---|
| FirstGroup | Half Year Results |
| Intertek Group | Trading Statement |
| Londonmetric Property | Half Year Results |
| Mitie Group | Half Year Results |
| Virgin Money | Full Year Results |
| 24-Nov | |
|---|---|
| No FTSE 350 Reporters | |
Compass Group – Sophie Lund-Yates, Lead Equity Analyst
As a catering supplier for large spaces and events (think stadiums, offices and campuses), Compass Group is benefitting from the return to normal life. Full-year organic revenue growth’s expected to rise 18%, with operating profit growth nearing 30%. Any deviation from these goalposts in next week’s results will cause a wobble from the market. We remain optimistic in the outlook but remember there are no guarantees.
We’ll be especially interested to see how demand from offices has been. This is an area of the economy that’s bouncing back in a different and hard-to-map way. There’s potential for the group to reprioritise other areas depending on how this shapes up over the medium term.
Outlook-wise, it will be important to understand how margins are faring. That will rest on how Compass expects companies and large-scale events to be affected by the economy. Outsourcing things like catering is a lever that businesses can pull when the going gets tough to get a better handle on costs.
See the Compass Group share price, charts and our latest view
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Polar Capital – Derren Nathan, Head of Equity Research
We’ve already heard that Polar Capital's Assets under Management (AuM) of £19.1bn were broadly flat at the halfway point of the financial year. That should mean that management fees to be reported in next week’s interim results probably haven’t moved much either. But flat can still be complicated. Investors in Polar’s funds withdrew £581m in the first half. It was investment performance that propped up AuM. That bodes well for performance fees in the half just gone.
But we’ll be looking out for a further steer on fund flows which are critical for the long-term health of the business. Polar Capital held its dividend flat at both the halfway and endpoint last year, despite a challenging 12 months. We have some questions as to whether that’s sustainable so will also be keeping an eye out for any update on payments to shareholders.
See the Polar Capital share price, charts and our latest view
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NVIDIA – Derren Nathan, Head of Equity Research
NVIDIA is expecting to break further records when it reports its third-quarter results next week. Market forecasts are looking for the boom in generative AI to drive a near three-fold uplift in sales, almost entirely because of increased Data Centers revenue. At the bottom line, growth is expected to be even faster although there are no guarantees.
We certainly see no shortage of demand for the Company’s high-speed processors which continue to evolve rapidly. But supply chain issues and export restrictions to China could act as brakes on growth so we’ll be looking out for updates on both issues. Investors have seen very strong capital growth in the shares of late, but earnings forecasts have more than kept up meaning the valuation is a little below the long-term average. Given the attention on the stock however, the market is likely to be sensitive to any change in the outlook.
See the NVIDIA 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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