What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week:
- Bunzl battles softening organic demand
- Another weak performance expected from Currys
- Inditex looks set to continue its hot streak
Among those currently scheduled to release results next week:
| 11-Dec | |
|---|---|
| No FTSE 350 reporters | |
| 12-Dec | |
|---|---|
| Chemring Group | Full Year Results |
| 13-Dec | |
|---|---|
| Inditex* | Q3 Results |
| 14-Dec | |
|---|---|
| Bunzl* | Trading Statement |
| Currys* | Half Year Results |
| IntegraFin | Full Year Results |
| Serco | Full Year Trading Update |
| SThree | Full Year Results |
| 15-Dec | |
|---|---|
| Global Smaller Companies Trust | Half Year Results |
*Events on which we will be updating investors.
Bunzl – Matt Britzman, Equity Analyst
Bunzl’s December trading update is usually a short one but should provide details on revenue growth for the year, alongside commentary on expectations for 2024. Following a disappointing third quarter, we’re expecting full-year revenue to come in slightly below 2022 levels. Covid-related sales continue to normalise, and the inflation tailwinds seen early in the year that helped elevate prices are fading away.
But despite revenue weakness, it’s been good to see operating margin guidance remain intact and it’s important this trend continues next week or there could be more weakness for the shares over the near term. Longer term, Bunzl has a resilient portfolio and a highly cash generative model that enables it to pursue a strong acquisition pipeline.
See the Bunzl share price, charts and our latest view
Currys – Aarin Chiekrie, Equity Analyst
Currys has found a new home for its Greek electronics retailer, Kotsovolos. The proceeds from this sale will provide a welcome boost to the group’s balance sheet, as well as allowing management to sharpen its focus on the remaining regions.
But there’s no magic wand here, consumers are struggling to justify as much discretionary spending on TVs and gadgets amidst a cost-of-living crisis. Markets are expecting another weak performance in next week’s results. Like-for-like sales in the UK & Ireland look set to drop around 3.5% in the first half, causing underlying operating profits to roughly halve to £13mn. We’ll also be keeping an eye out for any early signs of improvement in the struggling Nordics region, which will be key to a recovery in sentiment and profitability.
See the Currys share price, charts and our latest view
Inditex – Aarin Chiekrie, Equity Analyst
Zara’s parent company, Inditex, has been on a hot streak this year – with the valuation climbing more than 45%. The group owns fashion favourites like Bershka, Pull&Bear and Stradivarius.
The group’s expected to report another set of solid numbers in next week’s results. Ignoring currency impacts, markets expect third-quarter sales to grow at double-digit rates. That’s impressive given the company’s been wrestling against unfavourable weather conditions and a tough comparative period. Significant wage increases to its workers in Spain earlier this year is likely to nudge operating costs higher. We’re keen to hear just how much of an impact this has had on margins, and what actions are being taken to help offset it.
See the Inditex 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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