Antofagasta PLC more likely to be on a roll than Greggs PLC on Tuesday
There are also results expected from the likes of Ferguson, Close Bros, Costain, Polypipe, ScS and Wood Group
Journalists are unlikely to wheel out their favoured “Greggs on a roll” headline when the bakery chain issues its full-year results on Tuesday.
() has already told the market it expects its loss before tax for 2020 to be as much as £15mln, compared to a profit of £108mln a year earlier so the focus will be on current trading.
“The company has tried to adapt its operations to keep up with the nation’s changing snacking habits by rolling out click and collect and a delivery service,” noted Susannah Streeter at Hargreaves Lansdown.
“Flaky sales are likely to continue into the second half of 2021, given lockdown 3 but at the last reading Greggs had a buoyant net cash position of £37mln and a three-year £100mln revolving credit facility which should help it stay resilient until trade bounces back in town and city centres,” she added.
Antofagasta hopes to shine amid copper price surge
Chilean copper giant () will report final results following what has been a good 12 months, with its share price jumping 120% amid a 60% uplift in copper prices.
The rise of electric vehicles had raised hopes that the metal will find itself in even higher demand than normal, a trend that some will see as a good sign for the world’s recovery given Dr Copper’s reputation as a barometer for the health of the global economy.
For Antofagasta specifically, output, profit and dividends will be the key focus among investors, with the latter being eyed in particular for a hefty increase following a sharp cut to the interim payment last year.
For the past year, analysts expect underlying profits (EBITDA) to have climbed 8% to US$2.6bn, as higher prices have been accompanied by lower costs to doubly offset lower production.
Earlier this year, the miner said 2021 should see between 730,000 and 760,000 tonnes unearthed at a net cash cost of US$1.25 a pound, with analysts forecasting this will lead to EBITDA rising more than a third to around US$3.6bn .
Significant announcements expected on Tuesday March 16:
Trading announcements: ()
Finals: 4Imprint Group PLC (), Antofagasta PLC (), (), Greggs PLC (), John Wood Group PLC (), (), Group PLC (), (), (), PLC (), Group PLC (), (), Biopharma Credit PLC (LON:BPCR), (), PLC (), Fintel PLC (LON:FNTL), Harworth Group PLC (LON:HWG), PLC (), ()
Interims: (), Litigation Capital Management Ltd (), (), Close Bros Group PLC ()
Economic data: US retail sales
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