TUI, National Express, GVC set to provide post-lockdown trading updates on Thursday

Thursday will provide the market with a few more insights into the post lockdown trading period.

TUI AG - TUI, Frasers, National Express, GVC set to update on post-lockdown trading on Thursday

TUI AG (LON:TUI) should be among the corporate highlights of a busy Thursday with a quarterly update for the three months to June 30, 2020. The travel company is going to release some numbers on what has been a particularly unpredictable period in the sector, subject to the volatility of coronavirus travel restrictions.

Investors are hoping to hear more on the damage made by the UK government’s renewed quarantine measures on travellers arriving from Spain and how other trips and forward bookings are doing.

The firm may also update on its plans to axe 8,000 jobs internationally and close 166 high street stores in the UK and Republic of Ireland to cut costs.

On Wednesday, TUI landed an extra €1.05bn rescue loan from the German government to help it through the winter.

National Express to report on recovery journey

Transport operator National Express Group PLC's (LON:NEX) interims are also out on Thursday following a three-month silence after May’s ‘brief trading update’.

The FTSE 250-listed group announced then that it was going to restart some services in the UK from July, as it had already resumed routes in other countries. Investors will want to hear how that has continued and what’s the progress in negotiations to restart North American school buses as the new academic year is about to start.

Revenue tanked by 50% in April, so the market is expecting to see how that has recovered, and how the £1.5bn cash position posted in May is doing.

GVC wary of tax probe as it delivers interims

Ladbrokes owner GVC Holdings PLC (LON:GVC) will deliver its interim results on Thursday as well, with the gambling group looking to contain any fallout from a newly expanded HMRC probe into its former Turkish business.

In an update in mid-July, the company reported a steep fall in revenue from its betting shops which were forced to close during the lockdown, however, a jump in online gaming revenues had helped to plug the gap. As a result of lockdown easing, investors may be hoping the company’s outlook is more positive and it can retain some of the higher online numbers moving forward.

The company may also find itself benefitting from the return of live sport and associated match betting, while shareholders will also eye an update from newly minted CEO and former COO Shay Segev, who took the helm after the abrupt departure of Kenny Alexander.

Significant events expected on Thursday August 13:

Trading announcements: TUI AG (LON:TUI), Pennant International Group PLC (LON:PEN)

Finals: Renishaw plc (LON:RSW), Watches of Switzerland Group PLC (LON:WOSG)

Interims: GVC Holdings PLC (LON:GVC), National Express Group PLC (LON:NEX), Coats Group PLC (LON:COA), Anexo Group PLC (LON:ANX), Empiric Student Property PLC (LON:ESP), Helios Towers PLC (LON:HTWS), Just Group PLC (LON:JUST)

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