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Final session of first-half of 2017 likely to bring rush of updates including Serco and Trinity Mirror

Last updated: 06:00 30 Jun 2017 BST, First published: 12:13 29 Jun 2017 BST

Serco truck

Friday marks the final session of the second-quarter and the first-half of the current year and, as a result, sees a rush of companies holding their annual general meetings, with trading updates from  a few expected to disturb the end of an otherwise fairly quiet week.

Among the flood of small cap names, a pre-close season update from FTSE 250-listed outsourcing group Serco PLC (LON:SRP) will likely provide the biggest interest.

In February, Serco – which last week secured a £1.5bn deal to run what will be Australia’s biggest prison, its largest-ever contract by value  reported an 11% organic decline in 2016 revenue as uncertainty over Brexit caused delays to contract decisions.

READ: Serco's recovery hits a few potholes

In a note after the numbers, Barclays said it expects the group’s revenue in the 2017 financial year to fall by 3.5% but expects a possible recovery in 2018 and beyond, driven by a pipeline of contract opportunities.

The mid-cap company, which provides transport, health, justice, defence and security services for public departments, has issued guidance for profit margins to fall from 2.7% in 2016 to between 2.1%-2.3% in 2017, before rising modestly in 2018.

Rupert Soames, Serco's chief executive said in February: “The road back to prosperity was always going to be long and winding, with many potholes and boulders, but we are making good progress.”

Trinity Mirror print revenues still under pressure

Newspaper publisher Trinity Mirror PLC (LON:TNI) also issues a pre-close season update on Friday after also having issued full-year results in February and another trading statement in May which both saw a drop in print revenues.

 In a preview, analysts at Numis Securities said: “Based on previous years the trading update will be reasonably brief and provide an update on revenue trends seen at the Group during the first six months. “

READ: Trinity Mirror sees full-year print revenues fall 10%, plans to focus on digital advertising

They added: “We last heard from Trinity in early May when the Group provided an update for the first four months of 2017.

“To recap the May statement confirmed that revenues had fallen by -16%, with like for like revenues down -9%. Publishing revenue fell by -9% with print down -12% and digital up +6%.  Publishing print advertising revenues fell by -19%.”

In early January, Trinity Mirror said it was in early stage talks about investing in a new company comprising assets owned by privately-owned  Northern & Shell, the group that owns the Daily Express, Sunday Express, and the Daily Star titles. But there has been no update since on how the talks are progressing.

Significant events expected on Friday 30 June:

Trading updates: Serco Group PLC (LON:SRP); Trinity Mirror PLC (LON:TNI)

Finals: ECO Animal Health Group PLC (LON:EAH), MJ Gleeson PLC (LON:GLE), SerVision PLC (LON:SEV), TLA Worldwide plc (LON:TLA)

Interims: Diversified Oil & Gas PLC (LON:DGOC)

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