In GlaxoSmithKline’s second quarter results on Wednesday, Charles Stanley is looking for revenues of £6.99bn and a pre-tax profit of £2m.‘Expect these results to show continued growth in emerging market activities and a continued positive contribution over the quarter from H1N1 pandemic ‘flu preparations estimated at £125m,’ says the broker.
Charles Stanley expects outsourcing giant Capita’s interim results on Thursday to show only modest organic turnover growth due to a slowdown in activity in the second half of 2009. It is looking for pre-tax profits of £155m.
Capita may also give an update on its impression of the new government’s deficit-slashing plans.
‘For Capita, there will be new outsourcing opportunities though some existing projects may come under some pressure to improve purchasing,’ says Charles Stanley.
Ryanair has been in the headlines for the wrong reasons this week with chief executive Michael O’Leary forced to ‘unreservedly apologise’ and pay libel damages to Sir Stelios Haji-Ioannou, the founder of rival EasyJet. The focus will shift to the Irish airline’s first quarter results on Tuesday.
Volcanic ash disruption is forecast to have cost the company €50m, but Nomura expects Ryanair to reiterate guidance of 10% to 15% profit growth. The broker is predicting revenues of €862m and EBIT of €135m.
Panmure Gordon expects the positive theme in the pub company reporting season so far to continue when Enterprise Inns updates the market, helped by the weather and the World Cup.‘At its interim results Enterprise reported that average net income per pub across the whole estate was down 3% compared to the same period last year. We expect the group to report a similar level of net income per pub decline after 39 weeks,’ Panmure says.
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