Skip to main content
The Markets by Proactive
Go to Proactive UK
Proactive UK has moved. Proactive’s coverage of London’s small caps continues on proactiveinvestors.com Go there →
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Coverage of London’s small caps continues on proactiveinvestors.com
Go to Proactive UK
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK
Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK

Pharma & Biotech

PREVIEW - The Pru's turn to report in financial services week

The pensions and retirment group will report numbers for the latest half year

Another light day on the corporate calendar but the 'PRU' and its interim results will obviously be a draw.

The pensions provider and insurer will report numbers for the latest half year, coming hot on the heels of Standard Life's (LON:SL.) interims on Tuesday.

Its financial services week by the looks!

Standard Life shares surged as it reported forecast-beating asset growth and profits in the first six months.

Assets under administration lifted 7% to £328bn, beating forecasts while operating profit rose 18% to £341mln despite an uncertain state of the global economy at the moment.

Notably, new schemes for getting people to save helped and auto-enrolment helped to swell Standard Life’s workplace and retail products with £2.8bn of new cash coming in.

Prudential is expected to prompt less of a spark with City broker Panmure downgraded its target from 1,891p to 1,545p.

However, it does repeat a 'buy' rating.

One thing traders of course will be looking out for, as with all statements, is any commentary on the recent Brexit vote.

The broker forecasts a flat performance as underlying growth and foreign exchange tailwinds, due to the weaker pound, are offset by, among other factors, lower sales in the UK.

"We remain positive on Pru given the long term growth opportunities in Asia from the emerging middle classes and from the US from the retirement plans of the baby boomers whilst the UK remains a cash cow," it said.

In March this year, the firm said growth in Asia and the US should offset UK weakness, giving operating profit of £1.9 billion, on first-half sales of £2.8 billion.

Announcements expected

Final: Trafalgar New Homes PLC (LON:TRAF)

Interims: Interserve PLC (LON:IRV), Prudential PLC (LON:PRU)

Advertisement
The Markets
by Proactive
Proactive UK has moved.
Small-cap coverage continues on .com
Go to Proactive UK