Analysts are tipping house-builder Berkeley Group Holdings PLC (LON:BKG) to report good news when it posts annual results on Wednesday.
The full-year results should not contain any major surprises given Berkeley’s large level of forward sales, according to broker Peel Hunt.
The shares continue to be buffeted around on EU referendum issues and fears that the London housing market will collapse on an exit vote, the broker said. The shares are down 13% year to date.
“However, the group has a long history of pleasantly surprising when it publishes results,” the broker's Clyde Lewis said.
“We believe there is minimal downside risk to the group’s three-year pre-tax profit target of £2bn and believe the upside risk remains larger.”
Peel Hunt expects the group’s adjusted pre-tax profit to rise to £480mln from £454mln a year ago, against a market consensus of £490mln.
Meanwhile, high-tech research equipment supplier Oxford Instruments plc (LON:OXIG) is expected to report higher annual profits against a background of improving markets.
Numis Securities predicts pre-tax profits of £37.6mln against £35.6mln last time on a 4% fall in revenue to £365mln.
Analyst Nick James said: “From an end market perspective, conditions remain mixed, with peers reporting some improvement in academic and research driven markets (particularly in China), however industrial markets remain challenging.
“Given Oxford has already borne the brunt of weak industrial markets, it would appear that conditions should be improving, albeit slowly.”
Companies also expected to report on Wednesday include: Ricardo (FY)
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