logo-loader

United Utilities and Bellway among expected announcements for Wednesday

With the FCA having thrown company results schedules into doubt, United Utilities will be one of the few firms sticking to the original timetable with a pre-close trading update at the mid-point of the week

United Utilities Group PLC - United Utilities and Bellway among expected announcements for Wednesday

Despite the FCA moratorium throwing company results schedules into doubt, United Utilities PLC (LON:UU.) will be one of the firms keeping to its original schedule on Wednesday with the delivery of a pre-close trading update.

With demand for water likely to either stay the same or rise as more people stay indoors, the statement is unlikely to cause any fireworks for investors.

Lower interest rates are also likely to be good for the firm as it moves to reduce its debts, however, one potential pitfall could be if coronavirus ends up hitting the company’s workforce.

With this in mind, the company’s outlook statement and any comment on cost reduction targets is likely to attract attention.

Has Bellway already been hit?

Meanwhile, housebuilder Bellway PLC (LON:BWY) is now unlikely to deliver its interims and it is also unsure whether the firm will delve into a detailed outlook as the magnitude of the coronavirus pandemic is still unclear.

Instead, the main focus for investors will be whether the outbreak has already started denting trading.

Just over a month ago, the builder was looking forward to the traditionally strong spring season though it flagged pressure on construction cost across the wider sector.

As the firm has already reported interim revenues of £1.5bn, up 3% on last year, analysts at UBS expect operating profit of £298mln with margin 2% lower than last year at 19%.

Meanwhile, on the macro front, UK inflation will serve to provide additional clarity for the state of the UK economy as it grapples with the pandemic’s effects on the economy, as well as the outlook for prices of essential items as consumers settle in for what could be an extended period of isolation.

Significant announcements that had been expected for Wednesday 25 March:

Trading announcements: Diploma PLC (LON:DPLM), United Utilities Group PLC (LON:UU.)

Finals: Moss Bros Group PLC (LON:MOSB), Ted Baker plc (LON:TED), Ergomed PLC (LON:ERGO), CloudCall Group PLC (LON:CALL), DP Eurasia NV (LON:DPEU), SDL Plc (LON:SDL), SpaceandPeople PLC (LON:SAL)

Interims: Bellway PLC (LON:BWY), Ricardo PLC (LON:RCDO), Applied Graphene Materials PLC (LON:AGM)

Economic data: UK inflation, UK PPI

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Frontier IP 'in strong position' and working closely with portfolio...

Frontier IP Group PLC's (LON:FIPP) Neil Crabb speaks to Proactive London's Andrew Scott to discuss how the Intellectual property specialist's portfolio companies are adapting to the new virus threat. Crabb also touches on new investee company Elute Intelligence, in which it holds a 43% stake,...

1 hour, 11 minutes ago

2 min read