ANALYSTS may well be inclined to go on holiday this week as there is little for them to really get their teeth into with only a scattering of major companies reporting.
This morning sees full-year results from the FirstGroup bus and train operator. The company is well on its way to create a rail division as large as its bus franchise and has recently completed the #140m acquisition of the outstanding 74.7% stake in Great Western Trains which gives it an 8% share of the UK rail transport market.
Analysts are expecting that profits for the year to March will have increased from #50m to about #70m and the dividend from 5.5p to 6.7p.
However, of greater interest, will be the company's attitude towards the Government's increasing emphasis on buses and improvement in train services and to what extent capital expenditure can be offset by higher fares.
Tomorrow sees the continuing flow of water company results with the much-criticised Thames Water likely to report profits increased from #393m to around #407m.
Analysts will be anxious to hear of the implications for the company of the change of regime in Indonesia. Thames had a major contract to develop the infrastructure in Jakarta cancelled last week although it did say this would have ''no material impact.''
The dividend total should rise about 4p to 38.5p.
Tomorrow, National Grid, which operates the electricity transmission wires south of the Border, will see its profits drop from #591m to about #470m as a result of the 1996 price review which included a 20% reduction in the autumn of last year.
It is unlikely to return capital at this stage, having paid out #770m with the interim dividend.
Wednesday sees waste disposal group Shanks & McEwan give its first reaction to the #67m acquisition of the Belgian businesses it bought from Sita in March. These are expected to increase annual earnings by 10% immediately and confirmation would be welcomed.
The company has benefited in the past year from the three-year contract to burn 45,000 tonnes of meat believed to be contaminated with BSE and also for the removal last year of contaminated ground at the site of the Millennium Dome at Greenwich. These two factors should have helped push pre-tax profits ahead from #22.9m to about #25m and the dividend total from 3.9p to 4.2p.
On Thursday, the main topic of interest will be the extent to which Boots his managed to recover from the warehouse fire at Nottingham which is costing #30m to rebuild and will not be ready until late next year.
This occurred in the pre-Christmas period and obviously had a severe effect upon sales.
Pre-tax profits should have edged ahead from #536m to about #548m with the dividend lifted 1.5p to 22p.
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