THIS week sees results from consumer electricals rivals DSG International and Kesa Electricals – the owners of Currys and Comet – while Bank of England Governor Mervyn King will also appear before MPs.
The City will be hoping for positive news from Stagecoach on its dispute with the Government over its South West Trains franchise when the rail and bus firm reports results on Wednesday.
In April, the Perth-based group warned of “significant”
operating losses in two years on its franchise for services between the South Coast and London Waterloo if the row with the Department for Transport was not settled.
The key point of contention is a provision of the deal in which the Government agrees to pay a proportion of a franchisee’s losses if it fails to hit revenue targets.
Packaging and office products firm DS Smith has braced investors for a sharp fall in annual profits on Thursday after a difficult year.
A gloomy pre-close statement from the FTSE 250 firm – which is the UK’s leading producer of recycled paper and corrugated packaging – warned it was facing “volatile and weaker demand” in almost all markets.
DS Smith is extending a cost-cutting programme aimed to save £25m a year by a further £5m in the bleak climate.
Bank of England Governor Mervyn King will be back in the spotlight on Wednesday when he gives evidence to MPs on banking reform and his latest inflation predictions.
Mr King’s comments to the Treasury Select Committee will be closely watched after he repeated his calls for more power to be given to the Bank at his Mansion House speech last week.
Despite the Bank being given statutory responsibility for financial stability in the recent Banking Act, the Governor is frustrated that he has been given no extra means to carry it through.
He said the Bank “finds itself in a position rather like that of a church whose congregation attends weddings and burials but ignores the sermons in between”.
■ Companies reporting results this week include:
Today
Finals: Kewill, Netplay TV.
AGMs: Capital & Regional, Pinewood Shepperton.
Tomorrow
Finals: Creston.
Interims: Chemring, Domino Printing Sciences.
Trading update: Aggreko.
Wednesday
Finals: Castings, Kesa Electricals, Stagecoach.
Thursday
Finals: DSG International, DS Smith, Goldshield, James Latham.
AGM: JD Sports Fashion.
EGM: CSR.
Friday
Finals: Berkeley.
AGM: Lookers.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here