Friday preview: National Express on show

16th Dec 2010 17:12

After a rough 2009, the current year has been much more to the liking of bus and train operator National Express, which brings out a pre-close trading update next Friday. The company said at the interim stage it intends to resume dividend payments as it returned to the black. Since then, transport groups have got off relatively lightly in the consumer spending review, with the subsidies paid to bus operators to be reduced by 20% by 2014. Investors had been fearing much bigger cuts. Progress on debt reduction may be in focus, as will margin recovery. Spain was still a bit of a problem area in the third quarter but the North American business returned to revenue growth. Another trading update from temporary power and temperature control expert Aggreko is also pencilled in ahead of the weekend.It's been seven weeks since the last statement when it upgraded forecasts for both 2010 and 2011 following a strong third quarter. Full-year profits are expected to come in at around £300m, better than the current consensus of £290m.INTERIMS Alpha Strategic INTERIM DIVIDEND PAYMENT DATE Air Partner, Establishment Inv Trust, Hansa Trust, Hansa Trust 'A' Shares, Rensburg AIM VCT, Straight, TalkTalk Telecom Group , UBC Media Group, Wynnstay Properties, Young & Co's Brewery 'A' Shares QUARTERLY PAYMENT DATE M Winkworth, Royal Dutch Shell 'A', Royal Dutch Shell 'B' INTERNATIONAL ECONOMIC ANNOUNCEMENTS Production Outlook Indicator (FRA) (07:45) Business Confidence Indicator (FRA) (07:45) IFO Business Climate (GER) (09:00) IFO Current Assessment (GER) (09:00) IFO Expectations (GER) (09:00) Construction Output (EU) (10:00) Balance of Trade (EU) (10:00) Leading Indicators (US) (15:00) GMS Omega Diagnostics Group, Standard Life Equity Income Trust, TSE Group FINALS Jersey Electricity 'A' Shares EGMS China Western Investments, Telekomunikasi Indonesia (Persero) ADS AGMS Henderson Far East Income Ltd., Kedco, Schroder Oriental Income Fund Ltd., Sportingbet, Standard Life Equity Income Trust, Uranium Resources TRADING ANNOUNCEMENTS Aggreko, Keller Group, National Express Group FINAL DIVIDEND PAYMENT DATE JPMorgan Chinese Inv Trust, Keystone Inv Trust, Lok'n Store Group, Northern Venture Trust, Trading Emissions, Tristel