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BT Group PLC, Greggs PLC, TUI AG and Walt Disney Co in spotlight for the week


Morrisons, Burberry, Balfour Beatty, National Express and Sage are among others providing results or updates in the coming days

The week ahead is significant in the City and across England and Wales as it’s the last one before pubs, restaurants, cafes and other venues are allowed to open their doors for the first time after the latest national lockdown.

Before then, investors will have plenty to get their teeth into in the coming days, with results from BT, Burberry, Disney, Greggs, Morrisons, , Sage and TUI.

Morrisons growing market share

() remains the laggard of the big four supermarkets in terms of market share and is looking over its shoulder at .

It has, however, made a decent fist of things in 2021 with the latest industry data showing sales in the 12 weeks to April 19 up 7.2% year-on-year, meaning its market share rose 0.1 percentage points to 10.0%, a couple of points ahead of .

Tuesday’s first-quarter trading update, therefore, could be a cheery one.

Analysts have pencilled in a figure of 1.6% for year-on-year like-for-like sales growth for the first quarter.

The company was a late mover into the online sector but has taken a couple of short-cuts with its hook-ups with Ocado and Amazon and the market will be keen for news on how these relationship are developing.

TUI hopes for clearer skies after pandemic storm

As the world’s largest travel and tour operator, the pandemic has ravaged () alongside the rest of the industry, so the company’s half-year results on Wednesday are unlikely to make for pleasant reading.

Despite having made steep cuts to its spending to weather the storm, the company still reported a massive €699mln loss in its first quarter as revenues plunged almost 90% as resorts remained shuttered in its key markets over the winter season.

With this in mind, investors will be looking for any signs of light in the gloom, most importantly the widely anticipated easing of some travel restrictions for the summer period that will finally allow holidaymakers to take trips abroad.

Information on booking numbers and reservations will be of key importance, as well as more updates on its cash position and how its plans to spend any leftover bailout cash.

Ignacio’s at the wheel

Coach company Group PLC () will reveal on Wednesday whether the growing momentum seen in the final quarter of 2020 has been maintained in 2021.

Ignacio Garat, the group’s chief executive officer, has initiated “a wide-ranging business review to identify areas where we can improve our existing businesses and unleash the potential for sustainable growth”.

The company’s full-year results statement made great play of the company being the first public transport operator to become a Living Wage Foundation accredited employer so it would be disappointing were the review to conclude that redundancies are necessary.

The review was only announced it mid-March so it might in any case be too early for the company to reveal its thoughts on its new strategic direction but Garat has hinted it will include a greater focus on matters digital to improve performance, both operationally and commercially.

BT, a perennial champion in the European Super League of Debt

() will report its fourth-quarter and full-year results on Thursday as speculations mounts over the future of its BT Sport division.

For the fourth quarter, the consensus forecasts are for revenue of £5.29bn (down 6.1% year-on-year) and underlying earnings (EBITDA) of £1.83bn.

For the full-year, the City’s scribblers have pencilled in a 6.4% decline in revenue to £21.37bn and EBITDA of £7.43bn, equating to earnings per share of 18.7p.

Net debt excluding lease liabilities is expected to clock in at £11.51bn, with normalised cash flow during the fourth quarter estimated at £520mln.

The telecoms giant recently confirmed that it is in talks over the future of its BT Sport division but was otherwise tight-lipped. The City will be…



Read More: BT Group PLC, Greggs PLC, TUI AG and Walt Disney Co in spotlight for the week

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