Advertising conglomerate WPP reports half-year results and will almost certainly not be slow to point out that in the first half of last year, its performance was boosted by advertising spending associated with the FIFA World Cup.
“The group’s early June (2015) four month trading update saw like-for-like net sales up 2.3% compared with over 4% in the same period last year. Nonetheless and with an ongoing focus on costs, accompanying management comments in relation to profitability remained comforting, whilst currency head-winds are likely to have proved more modest than during 2014,” notes Keith Bowman at Hargreaves Lansdown.
“Furthermore, recent results from rivals Omnicom and Interpublic provide a reassuring read-across,” he added.
Numis Securities is forecasting profit before tax of £590mln and earnings per share of 33.3p, with the latter putting it 0.4p below consensus.
Infrastructure firm Carillion is probably still thanking its lucky stars basket case sector peer Balfour Beatty rebuffed its bid approach last year.
It’s been a case of steady as she goes for Carillion, and focus on Wednesday is likely to be on the state of the order book.
Temporary office space provider Regus releases interim results on the Tuesday with broker Investec expecting the update to highlight the continued strength of underlying trading and the benefits of the company’s significant operational leverage.
The broker is forecasting operating profit of £62.3mln on the back of revenue of £924.2mln.
“This update should underline the strong underlying trading momentum in the business, particularly in the North American market. A continued improvement in centre performance and greater overhead efficiency should serve to accentuate its significant operational leverage,” said analyst Andrew Gibb.
Significant announcements expected
Interims: AFI Development (LON:AFRB), Anglo Pacific Group (LON:APF), APR Energy (LON:APR), BH Macro (LON:BHMG), Bioquell (LON:BQE), Cambian Group (LON:CMBN), Cape (LON:CIU), Carillion (LON:CLLN), Gulf Marine Services (LON:GMS), HSS Hire Grp (LON:HSS), NMC Health (LON:NMC), Optimal Payments (LON:OPAY), Paddy Power (LON:PAP), Skyepharma (LON:SKP), WPP group (LON:WPP)
Trading statement: Stagecoach Group (LON:SGC)
Economic: UK – CBI realised sales, Nationwide house price index; BBA mortgage approvals. US – Durable goods; Crude oil inventories