Wednesday’s diary will see results turn up from takeaway delivery firm Deliveroo, with insurer Admiral Group (LSE:ADM) PLC bringing up the rear alongside Prudential PLC (LSE:PRU).
Also in focus will be the US inflation figures in the macro diary.
Deliveroo reheats figures
Deliveroo PLC (LSE:ROO) (LSE:ROO)’s first set of interim results on Wednesday since its lacklustre IPO in April may be greeted with mixed sentiment’s given the rocky ride for the takeaway delivery group so far this month.
While the firm upgraded its full-year guidance in July, it is also planning to exit the Spanish market due to what it said would be a “disproportionate level of investment” required to reach a top-tier market position in the country.
With this in mind, investors are likely to be looking for what the firm will focus on instead as it looks to expand, as well as how transaction volumes have held up as UK lockdown restrictions have eased, lowering the need for consumers to rely on takeaway food.
One of those interested investors is larger rival Delivery Hero (ETR:DHER, OTCQX:DLVHF), which was revealed this week to have built a sizeable stake, sparking all sorts of speculation.
Admiral comes into view
Insurer Admiral Group (LSE:ADM) (LSE:ADM) PLC will report its interim results on Wednesday, however, the group’s trading update in July already flagged up the key figures, notably the firm’s expectation that profits for the period will be between £450-£500mln.
The figure has been driven by what UBS analysts said were favourable prior year reserves development in bodily injury claims as well as a lower than expected COVID frequency benefit.
Investors will also be expecting an interim dividend of between 110-125p, partially bolstered by the £400mln in proceeds from the group’s sale of its Penguin Portal business, which includes websites such as Confused.com, Rastreator.com and LeLynx.fr.
In terms of outlook, UBS expects UK motor pricing and inflation trends will be a key focus going forward.
Significant announcements for Wednesday 11 August:
Trading updates: Gem Diamonds Ltd (LSE:GEMD)
Interims: Deliveroo PLC (LSE:ROO), 4Imprint Group PLC, Admiral Group (LSE:ADM) PLC, CLS Holdings (CSE:CLSH) (CSE:CLSH) PLC, Hostelworld (LSE:HSW) (LSE:HSW) Group PLC, Spirax-Sarco Engineering (LSE:SPX) (LSE:SPX) PLC, Avast PLC (LSE:AVST) (LSE:AVST), Hill & Smith Holdings PLC (LSE:HILS) (LSE:HILS), Prudential PLC (LSE:PRU) (LSE:PRU), Quilter PLC (LSE:QLT) (LSE:QLT), Phoenix Group PLC
Economic data: US MBA Mortgage Applications, US Crude Oil Inventories, US Inflation