Thomas Cook Group plc's (LON:TCG) investors will be closely examining the company’s pre-close trading statement tomorrow to see how it has been travelling amid Brexit uncertainty and terrorism concerns.
Last month the travel and leisure group warned that it was cautious about the political and economic outlook but still expected its full year operating results to be in line with market estimates.
The European tourism industry has suffered as a slump in the value of the pound following last June’s Brexit vote has made overseas trips more expensive for UK residents and as terror attacks have deterred travellers.
Thomas Cook said in the first quarter it saw continued weak demand for Turkey as holidaymakers opted for trips to areas considered safer such as Cyprus, Bulgaria, Portugal and Croatia.
Revenue and losses were broadly flat in the period, which was considered a small victory by analysts in light of the sector’s struggles.
Bookings for summer 2017 were 31% sold at the end of its first quarter in December, the group said.
Elsewhere, marketing analytics group Ebiquity plc (LON:ECQ) posts its full year results and is expected to report a 9% increase in revenue as it benefits from foreign exchange tailwinds.
In a January trading update the company said its annual results would receive a boost from a weaker sterling as two-thirds of its revenues are denominated in non-sterling currency. Foreign exchange gains amounted to £4.5mln in 2016.
Numis expects pre-tax profit of £11.9mln, compared to £11.2mln the previous year, and earnings per share of 11.2p, compared to 10.8p in 2015.
The broker has estimated the dividend per share will rise to 0.5p from 0.4p and has welcomed the company’s plans to accelerate growth. “We are supportive of the plan and retain our view that as evidence of revenue acceleration comes through, the shares will re-rate significantly,” Numis said.
AG Barr plc (LON:BAG) also reports its annual results tomorrow and the Irn-Bru maker has already told investors its profits will be in line with market expectations. In a trading update last month, the group said revenue for the 12 months to January 28 grew by a like-for-like 1.5% to around £257mln.
Industry volumes were up 1.5% in that period, while the value of that output increased just 1%.
However, the company, which also owns the Rubicon, Strathmore and Funkin brands, said it expects a challenging 2017 due to an “uncertain economic environment” for its UK-based businesses.
AG Barr is also faced with higher sugar taxes and has been introducing sugar-free products and low-sugar brews such as Irn-Bru Xtra and Rubicon Spring.
The company said by the time the neew taxes come into effect in April 2018, about 90% of its brands will be unaffected due to its extensive work to cut sugar levels.
Tuesday 28 March
Interims
Wolseley PLC (LON:WOS); Moss Bros Group plc (LON:MOSB); Inland Homes PLC (LON:INL); Artilium PLC (LON:ARTA)
Finals
Personal Group Holdings plc (LON:PGH), Ergomed Plc (LON:ERGO);Gulf Marine Services PLC (LON:GMS); LiDCO Group plc (LON:LID);Ladbrokes Coral Group Plc (LON:LCL); Premier Technical Services Group Plc (LON:PTSG); Instem Plc (LON:INS); Ebiquity plc (LON:EBQ); Barr (A G) PLC (LON:BAG)
Silence Therapeutics PLC (LON:SLN), Yu Group Plc (LON:YU.); Cloudcall Group Plc (LON:CALL); Card Factory Plc (LON:CARD); AA plc (LON:AA.)
Trading statement
United Utilities Group PLC (LON:UU.); Thomas Cook Group PLC (LON:TCG)
AGM / EGM
Chenavari Capital Solutions (LON:CCSL)