If it’s dependably dull you want, Unilever’s half-year results on Thursday should fit the bill.
If it’s off the wall you are after, there’s always Sports Direct International PLC (LON:SPD), which releases full-year figures.
A frisson of excitement might also be evident in low-cost airline easyJet’s statement, after chief executive Carolyn McCall’s decision to jump ship and join ITV.
Looking for some Unileverage
Following the short-lived takeover approach from Kraft Heinz Co (NASDAQ:KHC) earlier this year, Unilever PLC (LON:ULVR) unveiled its ‘Connected 4 Growth’ programme aimed at improving shareholder value.
That programme included targets such as boosting underlying margins to 20% by 2020, so investors will be looking to see what progress is being made under this new strategy.
Eyes will also be focused on business in Latin America, an exciting, high-growth potential area for Unilever but one that has been beset by macroeconomic troubles recently, particularly in Brazil, as was evident in the first quarter.
Last month’s acquisition of Hourglass, a luxury cosmetics brand, took Unilever even further into the premium personal care market following on from other recent deals in skin and hair care, so it will be interesting to see how that division is coming along.
Revenues are expected to rise 6% from last year to €27.9bn, with the company hoping to deliver underlying growth within its 3-5% target range - something it just failed to do in the first quarter.
Headline operating profit is tipped to rise to €4.2bn from €3.8bn a year ago, or €4.7bn (vs €3.9bn in 2016) once restructuring costs and other one-offs are accounted for.
Sports Direct taking a pounding from sterling's weakness
“Premium” is not a term one immediately associates with Sports Direct, but founder Mike Ashley is not afraid to take a stake in any retailer, no matter what market it addresses, as his company’s recent acquisition of a 25% stake in struggling video games retailer Game Digital PLC (LON:GMD) demonstrated.
The company has also had a dabble in the affairs of fashion outfit French Connection (LON:FCCN), department store chain Debenhams(LON:DEBS), home shopping specialist Findel PLC (LON:FDL) and sportswear rival JD Sports PLC (LON:JD.).
Ashley wants to turn Sports Direct into the “Selfridges of sports retail”; we know leopards can’t change their spots, but can the owner of Newcastle United football club change his stripes?
In an effort to boost business, Sports Direct has been expanding its portfolio with the acquisition of 50 stores in the US under the Bob’s Stores and Eastern Mountain Stores brands.
Liberum expects the FTSE 250 retailer to report a fall in full year adjusted pre-tax profit to £126mln, down from £275mln on the back of its acquisition spree and the hit from a weaker pound, while sales are forecast to rise to £3.1bn from £2.9bn.
The group’s first-half results in December saw Sports Direct report a 57% slump in profits, battered by the fall in the value of the pound after the Brexit vote.
The third-quarter trading update from easyJet PLC (LON:EZJ) on Thursday will give an idea of the strength of summer trading for the discount airline after a weak first-half performance due to a combination of currency pressures from the weaker pound and the later timing of Easter.
No thrills airline
Days after revealing that it is looking for approval to establish a new airline headquartered in Vienna, to enable it to continue to operate flights both across Europe and domestically within European countries after Brexit, easyJet should see a better performance with summer 2016 having been impacted by the EU vote uncertainties.
With the weak first-half numbers in July, McCall noted that increased bookings this year reflected “growing evidence that consumers are prioritising expenditure on flights and holidays above other non-essential items”.
Recent results from the airlines have been strong, noted Neil Wilson at ETX Capital.
“After a turbulent period throughout 2016 it does look like the sector is enjoying favourable tailwinds, albeit against a comparable period that was tougher,” he noted.
Significant announcements expected
Interims: Howden Joinery Group PLC (LON:HWDN), Moneysupermarket.com Group PLC (LON:MONY), Nichols PLC (LON:NICL), Severstal (LON:SVST), Unilever PLC (LON:ULVR)
Finals: Sports Direct International PLC (LON:SPD)
Trading statements: Anglo American PLC (LON:AAG), easyJet PLC (LON:EZJ), Premier Foods PLC (LON:PFD), SSE plc (LON:SSE)
Heavyweights going ex-dividend: Vedanta and SSE