Wednesday preview: Persimmon and Beazley results in focus
By Michele Maatouk
Date: Tuesday 12 Aug 2025
(Sharecast News) - Housebuilder Persimmon will release first-half results, along with specialist insurer Beazley, construction group Balfour Beatty and travel firm TUI.
As far as Beazley is concerned, UBS said its first-half earnings estimates are 5% light of consensus.
"Around half of the shortfall is driven by our assumed higher combined ratio, while the other half is driven by 'other income'," it said.
"On Underwriting, we forecast an insurance service result of $467m, some $12m light of consensus. This is driven by a higher net insurance revenue (benefitting from FX move), whereas we forecast a higher combined ratio at 82.3% versus 81% consensus."
The bank doesn't expect Beazley to deviate from its target for the full year.
"The lower other income is hard to forecast given the low number of years of a track record. We don't expect any shift in guidance from the previously disclosed LA wildfire losses," UBS said.
Danni Hewson, head of financial analysis at AJ Bell, said housebuilder Persimmon may be particularly interesting "for what it has to say about its own fortunes, those of its target market and also the wider UK economy, especially as the Labour government continues to target deregulation for planning, building and lending for residential property, as part of its growth programme".
"For all of that, however, Persimmon's shares have crumbled over the past year," she noted.
Hewson said the shares have fallen by more than a quarter despite healthy gains from the headline indices.
"Input cost inflation remains an issue, as does housing affordability as interest rates come down only slowly, while the industry remains dogged by costs for fire safety and cladding remediation on historic projects. Taylor Wimpey has become the latest builder to set aside further provisions here."
Third-quarter results from TUI will also be in focus, after the travel firm lifted its full-year profit guidance on Tuesday, citing a strong performance in the first nine months of the year and "initial positive indications" for July.
It now expects full-year underlying earnings before interest and tax to rise between 9% and 11% year-on-year at constant currency, up from a previous range of between 7% and 10%.
There are no UK macro data points due, but German inflation figures for July will be released at 0700 BST. In the US, MBA mortgage applications will be out at midday.
Wednesday August 13
INTERIMS
Beazley, Evoke (DI), Hill and Smith, Light Science Technologies Holdings, Persimmon, Winking Studios Limited (DI)
INTERIM DIVIDEND PAYMENT DATE
Dewhurst Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
Crude Oil Inventories (US) (15:30)
MBA Mortgage Applications (US) (12:00)
AGMS
Caracal Gold, Mountview Estates
FINAL DIVIDEND PAYMENT DATE
Facilities by ADF
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