Online fast-fashion retailer Boohoo Group PLC (AIM:BOO) and health and safety technology specialist Halma PLC (LSE:HLMA) are among the highlight names in the diary for Thursday.
A near 80% drop in its share price over the past year tells you all need to know about current expectations for Boohoo, as the favourite for short-sellers has already flagged first-quarter sales will be down year-on-year.
Peel Hunt predicts the fall will be 9% but adds there are glimmers of hope as consumers are “rebuilding their wardrobes”, even with inflationary pressures.
This means Boohoo brands like Coast and Karen Millen are likely to be flying but with “huge” comparatives numbers from a year ago, UK sales are likely to be down by mid single-digit levels, and the US by double digits. “The unusually high mix of dresses, which bring higher returns rates, is likely to remain a factor well into autumn.”
Over at Halma, a track record of increasing annual dividends for 42 consecutive years makes it one of the ‘dividend aristocrats’ of investor dreams. It remains one of 17 FTSE 100 firms that have managed to increase their annual dividend each and every year for at least a decade, according to analysis by AJ Bell.
Analysts are forecasting a pay-out of 19p per share, up 8%, from adjusted profits before tax up 10% to £307mln.
As health and safety is a big driver, with its products ranging through hazard detection and life protection systems, locks and devices to keep staff, clients and customers safe, the group has fairly strong pricing power.
Investors will still want to hear what management says about the current trading outlook, as well as the prospect for more acquisitions, with the City consensus expecting guidance for a 10% increase in adjusted PBT to £339mln.
Thursday 16 June:
Trading announcements: Boohoo Group PLC, N Brown Group PLC (AIM:BWNG)
Finals: Biffa PLC (LSE:BIFF), Halma PLC, Best of the Best PLC (AIM:BOTB), Syncona Ltd
AGMs: Evraz PLC (LSE:EVR), Anpario PLC (LSE:ANP), AEX Gold Inc (AIM:AEXG, TSX-V:AEX), Bisichi PLC, Informa PLC (LSE:INF), IAG, S4 Capital PLC (LSE:SFOR)
Econ announcements: Bank of England decision, Initial Jobless Claims (US)