LONDON (ShareCast) - Results from Irn-Bru maker AG Barr are due out on Monday, raising hopes that there may soon be an announcement regarding the Scottish firm's plans to take over its larger Chelmsford-based rival, Britvic.
Panmure Gordon reckons the firm's interim results are likely to be overshadowed by the merger talks. It is predicting the company will achieve top line growth of around 5% to £129.7m, but rising input costs, on-going brand investment and a deterioration in product mix is likely to result in a 6% decline in adjusted profit before tax to £15.6m, Panmure Gordon reckons, although a lower tax rate should results in adjusted earnings per share dipping just 1% or thereabouts.
"In the absence of further news regarding the possible merger with Britvic we expect the results to be a muted affair," the broker said.
The deadline for a firm offer being made is 5pm on October 3rd.
On the same day, Aberdeen Asset Management reports, and Peel Hunt is expecting "more of the same" from the fund manager.
"We expect a consistent trend in that higher margin equity inflows will more than compensate for outflows in fixed income," the broker said.
Thursday, as usual, is the busiest day of the week with heavyweights Compass, Tate & Lyle and TUI all set to update the market.
Regarding the latter, the consensus estimate for full-year earnings before interest and tax (EBIT) is £480m and TUI's management is confident of achieving this despite foressing a large negative foreign exchange impact. Broker Jefferies thinks that a weaker euro could hit fourth-quarter EBIT by up to £40m, implying underlying upgrades of 8%.
Monday September 24
INTERIMS
Barr (A.G.), China Food Co, DDD Group, EKF Diagnostics Holdings , Lighthouse Group, Mam Funds, Manganese Bronze Holdings, Michelmersh Brick Holdings, RGI International Ltd., Vphase, Wandisco
INTERIM DIVIDEND PAYMENT DATE
African Barrick Gold , Fidessa Group, GKN, Henderson Opportunities Trust
QUARTERLY EX-DIVIDEND DATE
Total SA
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
IFO Business Climate (GER) (09:00)
IFO Current Assessment (GER) (09:00)
IFO Expectations (GER) (09:00)
FINALS
Finsbury Food Group, Petra Diamonds Ltd.(DI)
AGMS
Angel Mining , iEnergizer Ltd., Marechale Capital , Max Petroleum, SnackTime
TRADING ANNOUNCEMENTS
Aberdeen Asset Management, Dairy Crest Group, QinetiQ Group
Tuesday September 25
INTERIMS
Augean, Bond International Software, InternetQ, Judges Scientific, KBC Advanced Technologies, Photonstar LED Group, Silence Therapeutics, Totally
INTERIM DIVIDEND PAYMENT DATE
Taylor Wimpey
QUARTERLY PAYMENT DATE
BP
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Confidence (US) (15:00)
House Price Index (US) (15:00)
FINALS
Albemarle & Bond Holdings, Close Brothers Group, CVS Group, Hargreaves Services, Netcall, Regenersis
EGMS
Eastern European Property Fund Ltd.
AGMS
Braveheart Investment Group, Daisy Group, Downing Structured Opportunities VCT 1, Downing Structured Opportunities VCT 1 'B' Shares, Downing Structured Opportunities VCT 1 'D' Shares, Fulcrum Utility Services Ltd. (DI), Private Equity Investor, Terra Catalyst Fund (DI), Zoo Digital Group
TRADING ANNOUNCEMENTS
Daily Mail and General Trust A (Non.V)
UK ECONOMIC ANNOUNCEMENTS
BBA Mortgage Lending Figures (09:30)
FINAL DIVIDEND PAYMENT DATE
Bloomsbury Publishing
Q1
Immofinanz AG
Wednesday September 26
INTERIMS
Panmure Gordon & Co, S & U, Snoozebox Holdings, Trap Oil Group
INTERIM DIVIDEND PAYMENT DATE
British American Tobacco, Lancashire Holdings
INTERIM EX-DIVIDEND DATE
Bovis Homes Group, Braime (T.F.& J.H.) Holdings, Braime (T.F.& J.H.) Holdings (Non-Voting), BrainJuicer Group, Brightside Group, British Smaller Companies VCT 2, Centrica, Christie Group, Derwent London, Dignity, Drax Group, Filtrona PLC, Good Energy Group, H.R. Owen, Invesco Perpetual UK Small Companies Inv Trust, IS Solutions, Kentz Corporation Ltd., M. P. Evans Group, Morgan Sindall Group, Morrison (Wm) Supermarkets, Netplay TV, Networkers International, North American Income Trust (The), Primary Health Properties, Quarto Group Inc., Real Estate Investors, Rotala, RSA Insurance Group, Smurfit Kappa Group, Vitec Group, Wynnstay Group
QUARTERLY EX-DIVIDEND DATE
Africa Opportunity Fund Ltd., Dow Chemical Co, Yamana Gold Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
New Homes Sales (US) (15:00)
SPECIAL EX-DIVIDEND PAYMENT DATE
Highland Gold Mining Ltd.
AGMS
Absolute Return Trust Ltd. GBP Shares, Intercede Group, Micro Focus International, Namibian Resources, Sirius Minerals, Sofia Property Fund Ltd., Sweett Group, WYG
TRADING ANNOUNCEMENTS
ICAP, Topps Tiles
UK ECONOMIC ANNOUNCEMENTS
CBI Distributive Trades Surveys (11:00)
FINAL EX-DIVIDEND DATE
Anite, Development Securities, Hansard Global, Oxford Instruments, Photo-Me International
Thursday September 27
INTERIMS
Circle Holdings , Dolphin Capital Investors Ltd, Fairpoint Group, OSJC Center for Cargo Container Traffic Transcontainer GDR (Reg S), SimiGon Ltd. (DI)
INTERIM DIVIDEND PAYMENT DATE
Low & Bonar, Pennant International Group, Prudential, Reckitt Benckiser Group, Schroders, Schroders (Non-Voting)
QUARTERLY PAYMENT DATE
Total SA
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Bloomberg Consumer Confidence (US) (14:45)
Business Climate Indicator (EU) (10:00)
Continuing Claims (US) (13:30)
Durable Goods Orders (US) (13:30)
Economic Sentiment Indicator (EU) (10:00)
GDP (Final) (US) (13:30)
Initial Jobless Claims (US) (13:30)
M3 Money Supply (EU) (09:00)
Pending Homes Sales (US) (15:00)
PMI Retail (EU) (09:00)
PMI Retail (GER) (08:55)
Unemployment Rate (GER) (08:55)
FINALS
Hansard Global
AGMS
Miton Worldwide Growth Inv Trust, Park Group, Toledo Mining Corp.
TRADING ANNOUNCEMENTS
Compass Group, Tate & Lyle, TUI Travel
UK ECONOMIC ANNOUNCEMENTS
Balance of Payments (09:30)
Current Account (09:30)
GDP (quarterly national accounts) (09:30)
GFK Consumer Confidence (00:01)
Index of Services (09:30)
FINAL DIVIDEND PAYMENT DATE
Fletcher King
Friday September 28
INTERIMS
Goals Soccer Centres, Harvey Nash Group
INTERIM DIVIDEND PAYMENT DATE
Acencia Debt Strategies Ltd., Belvoir Lettings, Clarkson, Concurrent Technologies, Downing Income VCT 3 E Shs, InterContinental Hotels Group, Jupiter European Opportunities Trust, London Capital Group Holdings, Maven Income & Growth 4 VCT, Maven Income & Growth 4 VCT 'S' Shares, North Midland Construction, Paddy Power, Rotork, Tamar European Industrial Fund Ltd., Temple Bar Inv Trust, Wood Group (John)
QUARTERLY PAYMENT DATE
Duet Real Estate Finance Ltd, MedicX Fund Ltd., Premier Energy & Water Trust
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Payments (GER) (07:00)
Chicago PMI (US) (13:45)
GFK Consumer Confidence (GER) (07:00)
International Reserves (EU) (11:00)
Personal Consumption Expenditures (US) (13:30)
Personal Income (US) (13:30)
Personal Spending (US) (13:30)
U. of Michigan Confidence (Final) (US) (15:00)
ANNUAL REPORT
African Consolidated Resources
SPECIAL DIVIDEND PAYMENT DATE
Dunedin Enterprise Investment Trust, Hargreaves Lansdown
AGMS
600 Group, African Consolidated Resources, Blavod Wines & Spirits, Catalyst Media Group, Downing Income VCT 3 D Shs, Eros International, Eurasia Drilling Co Ltd GDR (Reg S), Himachal GDR (144a), HML Holdings, Impact Holdings, Infrastructure India, IPSA Group, MediaZest, Minera IRL Ltd., Sky High
TRADING ANNOUNCEMENTS
Hyder Consulting
UK ECONOMIC ANNOUNCEMENTS
Consumer Confidence (09:30)
FINAL DIVIDEND PAYMENT DATE
Avarae Global Coins, BHP Billiton, Cash Converters International Ltd, Downing Absolute Income VCT 2, Downing Distribution VCT 1, Downing Income VCT 3, Downing Structured Opportunities VCT 1, Downing Structured Opportunities VCT 1 'B' Shares, Downing Structured Opportunities VCT 1 'D' Shares, Hargreaves Lansdown, Immunodiagnostic Systems Holdings, NCC Group
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