The week ahead: AB Foods, Morrisons, Galliford Try
7th September 2018 14:16
by Lee Wild from interactive investor
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With summer holidays over and the kids back to school, there are plenty of results out next week that need watching closely, writes Lee Wild.
Monday 10 September
It seems little can stop the steady decline in value at Associated British Foods. The share price is down 20% since June and by a third since last autumn's peak. We've already been warned that falling EU sugar prices will cut profit at the higher margin sugar division, but key here will be by how much. Retail chain Primark is expected to make more than last time, which will reignite calls for the two very different businesses to go their separate ways.
Source: interactive investor Past performance is not a guide to future performance
Trading Statements
Brady, Gulf Keystone Petroleum, MD Medical Group Investments, Associated British Foods
AGM/EGM
Live Company Group, Totally
Tuesday 11 September
Trading Statements
Acacia Mining, Harworth Group, PureTech Health, Surgical Innovations, Vectura Group, TP Group, Team17 Group, Silence Therapeutics, JD Sports Fashion, Cairn Energy, Ashtead, Eu Supply, DP Eurasia, Murgitroyd, Alumasc
AGM/EGM
Ashtead, Bilby
Wednesday 12 September
Galliford Try has had an eventful 2018 so far. After getting a rights issue away in April to pay for cost overruns on its Aberdeen bypass contract, a confident update in July revived fortunes.
The share price has risen almost 20% since then, putting it among the sector's best performers, but it gave away quite a lot in July, and it's unclear whether these full-year results will be enough of a catalyst to shove them back above the magic £10 mark.
Source: interactive investor Past performance is not a guide to future performance
Trading Statements
Advanced Medical Solutions, Anexo Group, Forbidden Technologies, Concurrent Technologies, Medica Group, Ten Entertainment, 1pm, Galliford Try, Dunelm, Stenprop
AGM/EGM
Orient Telecoms, Stenprop
Thursday 13 September
Morrison (Wm) Supermarkets has rewarded loyal investors over the past three years and the shares continue to regularly make their best levels since late 2013. Chief executive David Potts takes a lot of the credit, and there's reason to believe that a bullish assessment of prospects at the last update is justified.
Like-for-like sales grew by 3.6% during the first quarter and there's evidence that the discounters are becoming less of a threat. That plays into the hands of Morrisons which is already growing faster than the other Big Four grocers and we should begin to see profit margins improve in the first half.
The shares don't scream value, but they are among the cheapest of the UK supermarkets and the dividend yield is respectable.
Source: interactive investor Past performance is not a guide to future performance
Trading statements
GVC Holdings, Xeros Technology, SafeCharge International, Ophir Energy, Morrison (Wm) Supermarkets, Oxford BioMedica, Gresham House, Faron Pharmaceuticals, Ricardo
AGM/EGM
XPS Pensions Group, Picton Property Income, FlyBe, Better Capital, Entertainment One, Bahamas Petroleum Company, City of London Group
Friday 14 September
Trading statements
PV Crystalox Solar, Triple Point Social Housing Reit, Wetherspoon (JD)
AGM/EGM
Atlantis Japan Growth Fund, Severstal, Investec
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