News from Antofagasta and Comet owner Kesa to come too, in a packed AGM week.
With AGM season still on, next week's company news is dominated by trading updates and management statements, but there's a small handful of important results coming through, too.
Utilities cash cows
Gas, electricity and water utilities are often thought of as cash cows for income investors, as they have captive audiences and provide products that people simply cannot do without. And though they typically carry high debts, they're still able to pay out the bulk of their earnings as dividends.
We have two of them reporting full-year results next week, starting with SSE (LSE: SSE), formerly Scottish & Southern Electricity, on Wednesday, followed by National Grid (LSE: NG) on Thursday, and there's little to choose between them. Both are expected to report a fall in profits, but the story is all about those dividends. On a share price of 1,325p, SSE's shares should be offering a 6% dividend, while National Grid's 670p shares are expected to pay out 5.9%.
Minerals and oil
We have a couple of important releases from the natural resources business, with Vedanta Resources (LSE: VED) issuing its full-year results on Thursday. Vedanta, which is mainly involved in metals and minerals but also has a small interest in oil and gas, has seen its share price slide from a high of nearly £30 in early 2010 to just £10.96p today.
On the same day, Antofagasta (LSE: ANTO) will release its first-quarter figures. The FTSE 100 giant's shares have suffered in the general commodities slowdown, but have fared better than some -- they're down from around £16 to £10.32.
A number of oil and gas companies will be in the news too, with a first-quarter statement from Hardy Oil & Gas (HDY) and an interim statement from Tullow Oil (LSE: TLW), both on Wednesday, the day of the two companies' AGMs. Thursday will bring an AGM day statement from Cairn Energy (LSE: CNE) and an interim update from Premier Oil (LSE: PMO), a day ahead of its AGM.
Construction set for a comeback?
News from construction-related companies will come in the form of interim management statements from Travis Perkins (LSE: TPK) on Monday, from Bovis Homes (LSE: BVS) on Wednesday and Kier Group (LSE: KIE) on Thursday.
Construction, especially housebuilding, has been through a slump of several years' length, but after having bought up lots of cheap land when prices were lowest, the housebuilders have seen their share prices starting to come back. Bovis, for example, has climbed from its 326p low point of last year, to 464p today, and forecasts suggest it has a couple of very strong years ahead of it. It could be time to get back in.
Mixed high-street fortunes
From the high street, we'll have an AGM day update from Greggs (LSE: GRG) on Wednesday and the same from French Connection Group (LSE: FCCN) on Thursday. Thursday will also bring us a year-end update from Kesa Electricals (LSE: KESA).
And that's a pretty mixed bunch. Greggs has been doing fine. French Connection has seen a share price boom and bust, but appears to be trading well enough, with the current 42p price putting the shares on a forward price-to-earnings (P/E) ratio of just 8.7.
And Kesa Electricals... well, oh dear, the owner of Comet in the UK and the French Darty chain has lost nearly 70% of its share price valuation since late 2010, with a pretty big profit slump expected for the year ended April 2012.
Notable announcements next week:
Monday: Dignity, Diploma, Lonmin, Renishaw, Serco Group, Sinclair IS Pharma, Travis Perkins.
Tuesday: Babcock International Group, Capital & Counties Properties, Drax Group, Enterprise Inns, Evraz, G4S, Mithras Inv Trust, Unite Group.
Wednesday: Bovis Homes Group, Candover Investments, Cape, Capital & Regional PLC, Compass Group, Greggs, Datatec, Hardy Oil & Gas, Hilton Food Group, ICAP, Impax Asset Management Group, Interserve, Speedy Hire, SSE, Tribal Group, TT Electronics, Tullow Oil, Xchanging
Thursday: 3i Group, Amlin, Antofagasta, Aviva, Cairn Energy, Close Brothers Group, Cookson Group, Euromoney Institutional Investor, French Connection Group, Grainger, Hikma Pharmaceuticals, Intertek Group, Invensys, Investec, Johnston Press, Kesa Electricals, Kier Group, LMS Capital, Marston's, Metric Property Investments, National Grid, Optos, Paddy Power, Premier Oil, Restaurant Group, Shanks Group, Stobart Group, Talktalk Telecom Group, UTV Media, Vedanta Resources, Yule Catto & Co
Friday: Blinkx, Chesnara, Gleeson Group, Headlam Group, John Menzies, JZ Capital Partners, Keller Group, Kentz Corporation, Mitchells & Butlers
Fool comment on this week's news:
> Alan does not own any shares mentioned in this article.
