X-ray machines maker Smiths Group PLC (LON:SMIN) has been the perennial bid bridesmaid for some time now.
Rumours of suitors have abounded, but none seem prepared to take the plunge and make an offer to the engineering conglomerate.
The FTSE 100-listed firm’s results are normally predictable, with the ups and downs of its four key divisions seemingly always managing to even themselves out.
Morgan Stanley is expecting the group to report first half sales of £1.528bn, operating profit of £235.2mln, and earnings per share of 38.1p on Friday.
In a preview of Smiths’ results, Graham Spooner, investment research analyst at The Share Centre said: “Investors will be expecting the divisions that are exposed to government spending such as the Medical and Detection to do better as certain governments look to increase spending after some lean years.”
He added: “The group’s shares have performed exceptionally well over a one year period reflecting a steady performance from its growth businesses which have been offsetting the tougher conditions faced by its oil services business, John Crane.”
Rig services firm Lamprell PLC will also update the market on Friday, with its full-year results expected to also illustrate the tough conditions in the oil sector.
In a trading update back in January, the FTSE 250-listed firm said that, as expected, 2016 saw “lower levels of walk-in work” than the previous year, as most of the rigs stacked in its facilities throughout the year “remained inactive, having generated only limited refurbishment revenue.”
Lamprell said the industry environment remained challenging throughout 2016, and it expected that 2017 would also prove a “particularly cautious environment”.
But it was pleased to end the year with two significant contract wins – a US$225mln contract from Scottish Power Renewables, and a US$90mln award from Master Marine AS.
Significant events expected Friday 24 March:
Interim: Smiths Group PLC (LON:SMIN)
Finals: Henry Boot PLC (LON:BHY), Concurrent Technologies PLC (LON:CNC), Frontier Smart Technologies Group Ltd (LON:FST), Lamprell PLC (LON:LAM)