Mid cap retailers dominate next week's results schedule.
There is a dearth of blue chip results next week. The most notable company to report will be Debenhams (LSE: DEB), which is pencilled in for a trading update on Tuesday.
Debenhams has said that like-for-like sales grew 0.1% over the Christmas period with gross margins "significantly" higher than a year ago. This was thanks to the selling of more merchandise it has bought itself rather than selling goods from other brands. Debenhams has also revealed it may look to buy more stores in Europe following its purchase of Denmark's Magasin du Nord in January.
French Connection (LSE: FCCN) is pencilled in for annual results on Thursday when full-year losses could double from £7m to around £14m. To avoid more red ink in the future, it has closed its loss-making business in Japan. French Connection may announce yet more ideas from its on-going strategic review to stem the haemorrhaging of cash. In November, it said net cash had dropped from £20m a year ago to £15m.
Sandwich filler
Viennese mince pies were a huge success over Christmas at Greggs (LSE: GRG). It has helped the sandwich chain grow sales over the festive period by 3.1%. Like-for-like sales grew 1.1%. The cheerful performance over Christmas is likely to help Greggs post a rise in full-year profits on Thursday. Greggs is also expected to report strong cash flow, which it intends to use to invest in new shops. It plans to open 50 to 60 shops this year.
Hikma Pharmaceuticals (LSE: HIK) was highlighted in this recent Fool article as a play on the emerging markets of the Middle East and Africa. Shares in the generic drug maker have doubled to 581p since 2004, and it is easy to see why. Revenues have climbed from $262m in 2004 to $580 last year. In that time, profits have risen from $45m to $57m. Both revenues and profits are expected to increase again when Hikma reports full-year results on Wednesday.
Oil's Well
Since the start of 2009, shares in Salamander Energy (LSE: SMDR) have trounced both the FTSE Oil & Gas index and the wider market. The oil explorer, which was name checked in this recent podcast, will report annual results next Thursday.
Finally, it has been confirmed that asset manager Investec (LSE: INVP) will be promoted to the FTSE 100 index on Monday 22 March -- it will replace insurance group Resolution (LSE: RSL). Investec sealed its place after its shares jumped 28% last month following an upbeat trading update.
Notable results and updates
Monday: TT Electronics
Tuesday: Asian Citrus Holdings, Axis-Shield, Close Brothers, Debenhams and G4S
Wednesday: Hikma Pharmaceuticals and Xaar
Thursday: Aegis, French Connection, Greggs, Investec and Salamander
Friday: Headlam
