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The Markets
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The Markets
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The Markets
by Proactive
Proactive UK has moved.
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Renewables & cleantech

Severn Trent facing strong currents and Telecom Plus at new heights: Tuesday's Agenda

Updates from water company Severn Trent and utility provider Telecom Plus

On Tuesday, the first of this week's FTSE 100 trio of water companies, Severn Trent, will update on recent trading.

These results come against a backdrop of a tightening of the regulatory environment for the sector.

Severn Trent's guidance for the full year is for sales to be up around 10% from the regulated water and wastewater business, but with higher operating costs, thanks to upward cost pressures on energy and chemicals, and an increase in the interest bill thanks to higher interest rates on its £6.5bn net debt pile.

That combination underpins analysts’ forecasts for a drop in stated pre-tax profit for the fiscal year to £187mln, against last year’s £274mln (read the water company preview here).

While shares in the water companies are just off their recent 18-month low, those in Telecom Plus PLC (LSE:TEP) stand near all-time highs as the failure of numerous energy suppliers has driven ever more households to its Utility Warehouse platform.

Earlier this year co-chief executive Andrew Lindsay laid out some bullish goals for the current year, including customer growth of at least 20% (read more on the full preview here)

Defence suppliers Babcock and Avon Protection will also be in focus amid the extra spending on defence this year.

Significant announcements due on Tuesday

Trading updates: Caledonia Investments (LSE:CLDN) PLC, Coats Group PLC (LSE:COA), CRH PLC (LSE:CRH), Petershill Partners PLC (LSE:PHLL), Restore Plc (AIM:RST)

Interims: Accsys Technologies (AIM:AXS) PLC, AO World PLC, Assura PLC, Babcock International PLC (LSE:BAB), CML Microsystems Plc (LSE:CML), Cranswick PLC (LSE:CWK), Helical (LSE:HLCL) PLC, Homeserve PLC (LSE:HSV), Severfield PLC, Severn Trent PLC (LSE:SVT), Tatton Asset Management PLC (AIM:TAM), Telecom Plus PLC, Trifast (LSE:TRI) PLC

Finals: Euromoney Institutional Investor PLC (LSE:ERM)

AGMs: Fonix Mobile PLC (AIM:FNX), Kingswood Holdings PLC, Origin Enterprises PLC, Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF)

US earnings: CrowdStrike Holdings, Hewlett Packard Enterprise, Intuit

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