The World Cup and hot weather are likely to have attracted more customers to Marston’s plc (LON:MARS) pUBS during the summer months.
The brewing firm and pub operator on Wednesday releases a year-end trading update, which is expected to show a strong performance in drinks sales as people sought out beer gardens during the UK heatwave and TV screens during the World Cup in June and July.
Graham Spooner, investment research analyst at The Share Centre, said investors will be paying particular attention to the destination and premium pUBS, which focus more on food, as this segment saw a drop in sales in the third quarter.
He added that Marston’s accommodation segment, which has been “a growing part of the offer”, would also be of interest due to its rising prominence in the figures.
Spooner also said improved sales from rival firm Mitchells & Butlers PLC (LON:MAB) may “bode well for the wider sector”.
PageGroup expected to post solid third quarter
Recruitment firm PageGroup reports its third quarter results with analysts predicting a strong set of results, driven by international job markets.
In the first six months of the year, the company posted a 12.5% increase in total gross profit with growth across all its markets apart from the UK.
The UK recruitment market has slowed since the Brexit vote as employers exercise more caution with hiring due to economic and political uncertainty.
UBS estimates PageGroup will deliver a 16% increase in third quarter like-for-like gross profit, in line with the last quarter’s increase, led by a robust performance in France and Germany. It expects the UK to see gross profit dip 2%.
“The company does not report profit numbers at this stage but we expect good leverage on the high-level of growth being delivered and generally see risks skewed to the upside for FY18 consensus,” the broker said.
The results come after rival Robert Walters PLC (LON:RWA) on Tuesday posted a record quarter of gross profit, boosted by a solid performance in Europe and the Asia Pacific.
It also achieved growth in the UK despite a challenging jobs market, albeit at a weaker-than-expected rate.
Significant announcements due:
Trading updates: Marston’s plc (LON:MARS), Pagegroup PLC (Q3), (LON:PAGE), Telford Homes plc(LON:TEF)
Interims: Vertu Motors PLC (LON:VTU), Walker Greenbank plc (LON:WGB)
Economic data: UK manufacturing, industrial and construction data, US forward PPI data; US wholesale trade