London pre-open: Pause for breath

13th Dec 2011 07:35

After yesterday's shake-out, investors are expected to take stock at the outset, with the top-share index set to open little changed.  International distribution and outsourcing group Bunzl said revenue growth for the full financial year is expected to be more than 6% at constant exchange rates, comprising organic revenue growth of around 3.5%, with the remainder coming from acquisitions. There has also been an improvement in the group operating margin.Oilfield services firm Petrofac expects to deliver like-for-like (LFL) net profit growth in 2011 of at least 20%, the company said. On the basis of awards announced in the year to date, the order backlog is expected to be in the region of $10.6bn at 31 December 2011, down from $11.7bn at the end of 2010. Costa Coffee and Premier Inn owner Whitbread said sales in the 13 weeks to December 1st were up 2.4% on a LFL basis from last year. Total sales were up 11.4%. Costa Coffee was the best performing division, with LFL sales growth of 3.8%. Premier Inn's turnover was up 2.6% LFL, the Restaurants division saw LFL sales growth of 1.1% while the Hotels & Restaurants division's LFL sales growth was 2.1%. "Our like-for-like sales performance keeps us on track to deliver full year results in line with expectations," said Whitbread's chief executive, Andy Harrison.--jh