ANOTHER busy week for corporate news sees results from Vodafone, Marks & Spencer and British Airways, as well as a raft of data on the health of the economy.
M&S chief Sir Stuart Rose won plaudits last week for his gracious climbdown in the “storm in a D-cup” over its pricing of bigger bras, but financial figures will take centre stage tomorrow.
Analysts are expecting profits for the year to the end of March down 40 per cent at £603m – with prospects for the current trading year little better.
Problems with the firm’s food business as consumers shunned its dearer goods also combined with the bleak retail climate to give M&S some self-imposed headaches this year.
M&S added to the gloom by announcing 1,200 job cuts under plans to shut 25 Simply Food outlets and two main stores in January.
British Airways is set to hit shareholders on Friday with annual operating losses of about £150m. The company’s figures for the year to March 31 will bear the scars of soaring fuel costs.
Vodafone, which is set to reveal slight growth in full year operating profits and revenues, is looking to for £1bn of cost savings worldwide by March 2011.
The Newbury-based firm is expected to reveal revenues of £40.9bn for the full year across its world markets – up from £35.5bn in 2007-8.
Scottish & Southern Energy will announce a ‘‘modest’’ increase in profits at the firm’s annual results on Thursday.
Analysts expect the firm to post underlying profits of about £1.25bn for the year to the end of March, up marginally from the previous year’s £1.23bn.
SSE, which has nine million customers, has cut electricity and gas prices by nine per cent and four per cent respectively as suppliers across the board responded to easing wholesale costs.
Bosses at oil major Royal Dutch Shell could face a tricky meeting with investors tomorrow with recent pay awards under scrutiny.
Despite record £22bn profits last year on soaring oil prices, the Anglo-Dutch firm was ranked fourth out of five for its performance against peers, including BP and Total.
■ Companies reporting this week include: Today: Finals: Alliance Boots, Robert Wiseman.
Tomorrow: Finals: Big Yellow, Homeserve, Marks & Spencer, SSL International, Vodafone.
Wednesday: Finals: De La Rue, Experian, London Stock Exchange, Mothercare, Yell.
Thursday Finals: British Land, Business Post, Cable & Wireless, Scottish & Southern Energy.
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