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Crest Nicholson to unveil interims on Wednesday

The mid-point of the week will also include final results from Mr Kipling and Bird's custard owner Premier Foods

Crest Nicholson - Crest Nicholson to unveil interims on Wednesday

Wednesday is scheduled to see another update from the housebuilding sector as Crest Nicholson Holdings PLC (LON:CRST) releases its interim results.

The company’s figures are likely to provide more clarity on how the industry has coped with the UK’s coronavirus lockdown as well as the outlook for the housing market and construction industry in the year ahead.

Analysts at UBS are expecting a 14.5% decline in revenues year-on-year to £398mln on the back of 1,068 housing completions, a 10% fall from last year.

The bank said the full year outlook will be key, particularly the trend for new orders and cancellations, as well as completions from May 18 when building sites began to reopen.

Also on the calendar is a trading update from Petrofac Ltd (LON:PFC) and final results from Mr Kipling owner Premier Foods PLC (LON:PFD).

The food firm’s investors are also likely to be keeping an eye out for any clarity on the potential sale of bread giant Hovis, in which Premier owns a 49% stake.

A Sky News report earlier this month said the majority owner of Hovis, private equity firm The Gores Group, was considering a sale of its own stake in the group, which is expected to fetch a total value of up to £150mln, potentially netting Premier just under £75mln if it also decides to sell up.

Significant announcements expected for Wednesday June 24:

Trading updates: Petrofac Ltd (LON:PFC)

Finals: Stagecoach Group PLC (LON:SGC), Premier Foods PLC (LON:PFD), Alpha Financial Markets Consulting PLC (LON:AFM), DiscoverIE Group PLC (LON:DSCV), HarbourVest Global Private Equity Ltd (LON:HVPE), Iomart Group PLC (LON:IOM), Savannah Energy PLC (LON:SAVE), ULS Technology PLC (LON:ULS)

Interims: Crest Nicholson Holdings PLC (LON:CRST)

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