Barclays next in to bat as banking results season continues

Will Barclays' results be duff, like HSBC's, or buff, like Lloyds'?

Barclays Canary Wharf
Barclays is expected to announce pre-tax profit of £3.9bn

If you've been studying form, the results from lender Barclays will be hard to predict.

Will it follow the lead of HSBC, whose results were disappointing, or Lloyds, whose results were surprisingly good?

The consensus estimate for full-year pre-tax profit is £3.9bn, compared to £2.05bn the previous year. Net operating income, net of insurance claims, is expected to reach £20.7bn.

The chief executive’s salary will be a key focus in the results following reports earlier this month suggesting Barclays was considering freezing Jes Staley’s maximum pay at £8mln for the next three years.

Construction and regeneration specialist Morgan Sindall is expected to show profits growth in every division when it unveils full-year results.

The key focus, according to Peel Hunt, will be on the Fit Out division, which accounts for 37% of underlying earnings (EBITA), where continued order book growth will be well received.

The broker is forecasting adjusted profit before tax of £42.5mln on sales of £2.48bn. It thinks year-end net cash will be around £103mln, giving the company one of the strongest balance sheets in the sector.

Significant announcements expected

Finals: BAE Systems PLC (LON:BA.), Barclays PLC (LON:BARC), British American Tobacco plc (LON:BATS), Glencore PLC (LON:GELN), Kaz Minerals PLC (LON:KAZ), Morgan Advanced Materials PLC (LON:MGAM), Morgan Sindall Group PLC (LON:MGNS), Playtech PLC (LON:PTEC), Relx PLC (LON:REL), Rathbone Brothers PLC (LON:RAT), Rentokil Initial PLC (LON:RTO), RSA Insurance Group PLC (LON:RSA), Howden Joinery Group PLC (LON:HWDN)

Interims: Genus PLC (LON:GNS), Monitise Plc (LON:MONI), Wilmington PLC (LON:WIL)


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