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Premier Oil: Catcher and cash flow will be in spotlight

Last updated: 06:00 08 Mar 2018 GMT, First published: 13:30 07 Mar 2018 GMT

Premier Oil offshore oil platform

As Premier Oil PLC (LON:PMO) releases its full year results on Thursday the attentions will be on cash flow generation, with investors waiting to see the pay-off from the group’s recent production growth thanks to the introduction of the Catcher field.

Premier’s production amounted to around 75,000 boepd during 2017, and Investec analyst Brian Gallagher is expecting 2018 output to come in at 82,000 boepd  - the company’s own guidance is for 80,000 to 85,000 boepd.

Commentary around Catcher is expected to be key feature.

Investec rates Premier Oil as a ‘hold’. Gallagher, in a note, said: “In short, while we see improving cash flow generation in 2018E, valuation still remains full.

“With the recent trading update outlining full year operational numbers, we steer our focus to the detailed set of financials and analyst presentation on the day, which will provide further clarity on guidance for 2018 and beyond.”

Restructuring rewards wanted at G4S

Outsourcing group G4S PLC (LON:GFS) has also suffered a tough recently with a big decline in its share price since last spring, so investors will be hoping Thursday’s fourth-quarter results will show further signs of improvement as a result of its restructuring.

The FTSE 250-listed firm, whose Cash360 system allows retailers to outsource their cashing up process has been attempting to improve efficiency, cut costs and debt.

Analysts have been highlighting improvement in the group’s profit margins, productivity programs and especially demand for its automated cash handling business.

Thursday March 8:

European Central Bank policy meeting outcome

Finals: G4S PLC (LON:GFS), Domino's Pizza Group PLC (LON:DOM), Aviva PLC (LON.AV.), Countrywide PLC (LON:CWD), Equiniti Group PLC (LON:EQN), Premier Oil PLC (LON:PMO), Spirent Communications PLC (LON:SPT), Alfa Financial Software Holdings PLC (LON:ALFA), Attraqt Group PLC (LON:ATQT), Capital & Regional PLC (LON:CAL), Communisis PLC (LON:CMS),  Frontier Smart Technologies Group Limited (LON:FST), John Laing PLC (LON:LNGO)

Ex-dividends: To knock 8.3 points off FTSE 100 index - BHP Billiton plc (LON:BLT), CRH PLC (LON CRH), Evraz plc (LON:EVR), Land Securities PLC (LON:LAND), Persimmon PLC (LON:PSN), Shire Plc (LON:SHP), Standard Chartered PLC (LON:STAN)

Economic data: RICS UK housing market report; US weekly jobless claims; US Challenger job cuts.

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