Carburton Street, London – In the next seven days there are only two companies from the FTSE 100 due to report figures but quite a few from the lower leagues. On the economic front there are consumer prices on Tuesday, a labour market report on Wednesday and retail sales figures on Thursday. And it should come as no surprise to hear that there is yet another interest rate meeting, this time from across the pond when the Federal Open Market Committee meets on Tuesday.
Outsourcing is big business especially at a time when companies are keen to focus on their core operations. This is where Compass Group (LSE: CPG), one of the world's biggest contract caterers comes into its own. This FTSE 100 company provides catering services for airports, hospitals and schools and boasts the BBC, Lloyds TSB (LSE: LLOY) and the Pentagon amongst some of its more high profile clients. But the recent slowdown in the economy coupled with the large number of job losses that have announced may impact the company's performance. This notwithstanding the company said in a trading update that it still expects strong like-for-like sales growth for the full year and pre-tax profit for the full year was in line with management expectations. Compass reports on Tuesday.
Daily Mail & General Trust (LSE: DMGT) has full year numbers on Thursday. In a trading update in September, shortly after the terrorist attacks on America, the owner of the Daily Mail and the Evening Standard said the events had an immediate impact on the company's activities. In particular Euromoney Institutional Investor (LSE: ERM), in which it has a 70% holding, saw its conference and training businesses were affected, as were DMGT's world media events in the New York area.
Carpetright (LSE: CPR) told the market at its AGM in July that total sales for the first 13 weeks of the year were up 10.7% and like-for-like sales had improved 8.6%. Ten new stores have been opened and the company said gross margins continued to show strength. Although the revelation was made some six months ago, the continuing strength in the housing market coupled with historically low interest rates is likely to ensure that Carpetright will not disappoint when it steps forward with interim numbers on Tuesday. (Carpetright was bought by the Qualiport in August).
The upmarket housebuilder Berkeley Group (LSE: BKL) broke with tradition and provided a trading update at its AGM in August. Chairman Roger Lewis said the housing market in May, June and July was very satisfactory and reservations were at record levels. Lewis added that performance in August had also been encouraging with interest from both owner-occupiers and investment buyers.Berkeley reports on Thursday.
There are also results during the week from the cider maker H.P Bulmer (LSE: BULM), medical equipment company Medisys (LSE: MDY), the building services firm Mitie Group (LSE: MTO) and First Choice Holidays (LSE: FCD).
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