The week ahead: Capita, Stagecoach, Serco

There's more scheduled corporate news due out over the next week than we’ve had recently, among them some oil and gas plays, plus the big support services firms.

Monday 25 June

Trading Statements

Sutton Harbour Holdings, Polar Capital Holdings

AGM/EGM

United Oil Gas, Tiziana Life Sciences, JKX Oil & Gas, Augean, Telit Communications, Asiamet Resources

Tuesday 26 June

Capita shares had lost about nine-tenths of their value since November 2015 after a string of profits warnings. It's been kicked out of the FTSE 100 index and traded below 80p in April, down from an equivalent of more than 800p in November 2015.

But the company's new chief executive Jonathan Lewis promised to turn the business around, which included a £701 million rights issue at 70p in May.

A rebound from multi-decade lows, is underway and technical analysts will tell you the shares are "filling the gap" created following January's profits warning and dividend freeze.

There is a "lot to be excited about", according to Lewis, whose "thorough review" will take in Capita's "structure, its leadership, its contracts and its financial position". Shareholders should get plenty of info at the AGM on Tuesday.

Source: interactive investor      Past performance is not a guide to future performance

Trading Statements

Blue Prism, Thruvision Group, Northgate, Creightons

AGM/EGM

Hummingbird Resources, Afriag, Griffin Mining, Altus Strategies, Faroe Petroleum, Marwyn Value Investors, Capita, JZ Capital Partners, Morses Club

Wednesday 27 June

Trading Statements

Liontrust Asset Management, Imimobile, Sysgroup, Tullow Oil, Whitbread, Bunzl

AGM/EGM

Hydrodec Group, Rockrose Energy, Exillon Energy, Shield Therapeutics, Atalaya Mining, Crawshaw Group, First Derivatives

Thursday 28 June

Investors will be hoping for better things from Stagecoach when it unveils final results Thursday. The former high-flying bus and train operator has had an awful three years, losing two-thirds of its value to sit near a nine-year low.

Now, the shares trade on single-digit price/earnings (PE) multiples and offer a dividend yield of well over 8%.  

But the firm's reputation took a big dent this year when the government renationalised the East Coast franchise which Stagecoach ran with Virgin Trains. Forecast passenger numbers proved well wide of the mark, resulting in big losses.

It's not just the results that matter this time, but how management plans to return the business to former glories. 

Trading statements

XPS Pensions, Stagecoach, Greene King, John Wood Group, Hunting

AGM/EGM

Vianet, Victoria Oil & Gas, Xpediator, NMC Health, Pebble Beach Systems, Serica Energy, Third Point Offshore Investors, IDE Group Holdings, ImmuPharma, Edenville Energy, Cradle Arc, Cellcast, Federal Grid Company of Unified Energy System, Energean Oil Gas, Harvey Nash

Friday 29 June

Serco Group is another support services disaster area, and a turnaround plan involving big cost savings has failed to establish a sustainable rally in the share price.

Despite this, the stock trades on over 20 times forward earnings, so not cheap. Chief executive Rupert Soames will have to pull a rabbit out of the hat on Friday when he presents a pre-close update ahead of half-year results on 2 August.

Source: interactive investor      Past performance is not a guide to future performance

Trading statements

Serco

AGM/EGM

Avocet Mining, Velocys, Widecells, W Resources, Altitude Group, World Trade Systems, Biopharma Credit, Megafon, Fastjet, Pennpetro Energy, President Energy, Herencia Resources, Crimson Tide, Havelock Europa, Strat Aero