Heavyweight corporate results will be thin on the ground again next week, but the market should still be kept on its toes by eagerly-awaited figures from Rolls-Royce and a range of economic data.

The engine maker's woes have been well flagged and the market is braced on Thursday for a sharp fall in half-year profits, a steep increase in debt and a significant deficit in pension funds.

The fall in civil aviation demand has hit new engine deliveries, with profits in the civil division likely to be halved.

The disruption caused by rationalisation is likely to leave a mark on figures, with profits for the six months to June 30 forecast to fall to £100m from the £186m achieved last time.

Investors are already braced for unspectacular results from advertising group WPP on Tuesday after it warned in June that like-for-like revenues were down eight per cent and offered little hope of an immediate recovery.

With the downturn in business expected to continue during this year, WPP - headed by Sir Martin Sorrell - is now considered unlikely to meet its operating margin target of 15 per cent.

Temporary power supplier Aggreko's interim results announcement on Wednesday will focus on North America after a poor performance in the region, which creates about 50 per cent of revenues, led to a profits warning in June.

The Glasgow company is also expected to outline the progress of a cost-cutting programme, which is likely to result in job losses and savings of £10m by the end of the year.

Earlier this month, Wembley took a major step in its transformation into a track-based gaming company by agreeing to sell the Wembley complex, including the arena, conference centre and exhibition halls, for £48m.

The deal with Quintain Estates enables the group to focus on its greyhound tracks.

Analysts are expecting interim pre-tax profits on Monday to improve from £16.2m in 2001 to £17m this time around.

Economists will be looking for confirmation that high street spending has stabilised when retail sales figures for July are published on Thursday.

High street sales volumes fell 0.7 per cent in June to the weakest level in two years as shoppers were distracted by the jubilee celebrations and the World Cup, the Office for National Statistics reported.

But recent surveys from the British Retail Consortium and the CBI indicated that sales were now more steady with NatWest Stockbrokers forecasting a 0.4 per cent pick up in July's figure.

* Company results and economic news in the week beginning Monday, August 19 include:

MONDAY: Interims: Michael Page International, Systems Union Group, Wembley.

TUESDAY: Finals: London St Lawrence

Interims: Brixton, IFX Power, Mersey Docks & Harbour, Morgan Sindall, WPP

AGMs: Firth Holdings.

WEDNESDAY: Interims: Aggreko, Generics Group, IQE (Q2). AGMs: Dunedin Enterprise IT.

THURSDAY: Finals: Domestic & General, Netstore. Interims: Cattles, Countrywide Assured, Financial Objects, Keller Group, New Media Industries, Rolls-Royce, Wilson Bowd. AGMs: Trifast Economic: Retail sales, CBI industrial trends.

FRIDAY: Interims: Clarke (T). AGMs: Samuel Heath & Sons. Economic: Q2 GDP 1st revision