It was way back in November that we last heard from Kingfisher PLC (LSE:KGF), when the B&Q owner said full-year profits were nailed on at the higher end of its previous guidance, following strong sales in the third quarter.
Like-for-like sales were down by 2.4% on the same period last year, though this was compared to a period when demand soared amid the first Covid lockdowns.
For the full year, analysts are forecasting a 3.4% like-for-like decline in sales and £769mln of underlying profit before tax, which would be a 20% drop on the prior year.
“The key question form investors is the outlook – consensus is currently forecasting £772mln in PBT for next year (£760mln UBSe), but investors seem increasingly bearish on KGF’s ability to deliver a strong performance against a backdrop of consumers rotating away from home spend, on top of a weak macro backdrop,” said UBS.
Kingfisher’s Poland exposure represents 13% of group sales, analysts at the Swiss bank added.
Outside the FTSE 100, there will be updates from Carnival PLC (LSE:CCL) and Trustpilot, with the cruise line operator and the online ratings platform both seeing their shares wallowing well below where they were a year ago.
Carnival's shares sank from above £35 at the start of 2020 to below £10 as the pandemic broke and while battling back above £18 last summer, have weakened again as Covid has not disappeared as easily as hoped.
Recent updates from the London- and New York-listed group have waxed and waned between optimism and cancellations.
In October, Carnival Cruise Line said it would have 90% of its US-based fleet operational by February, with the goal of all its ships being operational in the spring.
Last month the diary was rejigged, with its entire fleet of 24 ships now pledged to be sailing by the summer - so what will Tuesday's update bring?
As for Trustpilot Group PLC (LSE:TRST), revenue growth got only a 3-star rating during the pandemic, slowing to 23% on a constant currency basis from 32% in 2019.
But growth has accelerated since, with the FTSE 250-listed group’s year-end update indicating that 2021 revenues will be US$131m, up 24% on a constant rate or 29% in total, with both bookings and annual recurring revenue, which are indications of future growth, had improved to 26-27%.
This implies Trustpilot is recovering closer to the historical norms of 30%, said broker Peel Hunt, which will be looking at key performance indicators during Tuesday’s results, such as retention rate, numbers of reviews and active domains.
Along with their early-stage life-science peers, Oxford Nanopore Technology PLC’s shares have had a weak start to 2022, but the company’s full-year results on Tuesday could provide a boost.
Analysts at Berenberg said guidance for 2022 and profit margin progress should be the focus after the company’s sales update in January guided to increased total Life Science Research Tools (LSRT) revenues of more than £120mln for 2021, but with targets for 2022 LSRT sales kept at £135-145mln.
With renewed interest in pandemic-surveillance sequencing and progress in several large-scale projects, “we think there is upward pressure versus the communicated figures and consensus”, the analysts said, adding that a planned technology update on the day “could also move the shares”.
“In addition, we think the shares would be helped by any upcoming launches indicating that Oxford Nanopore is approaching its clinical opportunities within cancer diagnostics, infectious disease or microbiology faster than expected.”
Significant announcements due on Tuesday 22 March
Interims: Diurnal Group PLC (AIM:DNL), ScS Group PLC (AIM:SCS), Softcat (LSE:SCT) PLC, YouGov PLC
Finals: Alliance Pharma PLC (AIM:APH), Carnival PLC, Diaceutics PLC (AIM:DXRX), Diversified Energy Company PLC (LSE:DEC, OTCQX:DECPF), Fintel PLC, Kape Technologies PLC (LSE:KAPE), Kingfisher PLC, Harworth Group PLC, Longboat Energy PLC (AIM:LBE), Luceco PLC (LSE:LUCE), Oxford Nanopore Technologies PLC (LSE:ONT), Pebble Group PLC, Sabre Insurance Group PLC (LSE:SBRE), Staffline Group PLC (AIM:STAF), Trustpilot Group PLC, Wood (John) Group PLC, YU Group PLC, Zotefoams PLC (LSE:ZTF)
AGMs: CC Japan Income & Growth Trust PLC, Crest Nicholson (LSE:CRST) Holdings PLC, Standard Life Private Equity Trust PLC, Starvest PLC (AIM:SVE), Wynnstay Group PLC (AIM:WYN)
Economic announcements: Public Sector Net Borrowing (UK)