INVESTORS face a testing time next week as some of Britain's highest profile companies report figures. In particular, comments from BT and British Airways will test confidence.

Last month, British Airways offered the first sign that its post-September 11 problems could be easing, so analysts will be looking for further upbeat comments when the company issues its third- quarter figures on Monday.

Pre-tax losses for the first nine months of the financial year are forecast at £256m, compared with a £288m profit a year earlier.

The key figures from ICI's full-year results have already been aired after it announced on Thursday that it intended to raise £800m through a rights issue to tackle its £2.9bn debt mountain. It expects pre-tax profits for the year, due on Monday, stripping out one-off costs and goodwill, to be £401m, compared with £450m the previous year.

The City gets its first chance to meet BT Group's new chief executive, Ben Verwaayen, on Thursday as the telecoms giant reports results for the third quarter of its financial year.

Analysts are not expecting any significant announcement from the Dutchman but will focus on projections for revenue at BT's wholesale and retail divisions, which now account for 80 per cent of sales at the slimmed-down group.

The sharp fall in crude oil prices in the past year is expected to leave its mark on Anglo-Dutch giant Shell when it reports fourth-quarter figures on Thursday.

Analysts will also be keen to see how Shell is progressing in meeting its revised production targets of three per cent annual growth.

Interim results from BSkyB on Friday will give the broadcaster a welcome chance to throw the light back onto its core business after recent pressure on its share price.

Gerrard predicts half-year losses of £237m before one-off items, against a loss of £166m the same period the year before, but total revenues should be up 22 per cent given a continuing growth in BSkyB's subscriber base.

l Companies reporting next week:

MONDAY - Finals: ICI, Elan Corporation (Q4)

TUESDAY - Finals: Bookham Technology (Q4), Enterprise Oil. Interims: Epic, Eurodis Electron, Home Entertainment, QXL Ricardo (Q3), Surf Control (Q2).

WEDNESDAY - Interims: Regent Inns.

THURSDAY - Finals: Lattice, London Bridge Software, Shell (Q4), Smith & Nephew. Interims: BT (Q3).

FRIDAY - Interims: BSkyB