London pre-open: Weak start expected

22nd Apr 2010 07:37

Footsie is expected to open a few points lower after the US gave up most of its gains before trading closed last night.Revenues were down at WH Smith in the half year to February 28, but efficiency measures helped the newsagent chain post a rise in pre-tax profits. Revenues slipped to £716m from £731m over the same period the previous year, while pre-tax profits edged up to £62m from £61m.Pubs group Punch Taverns reported a slightly better than expected half year profit but warned that market conditions remain challenging. Pre-tax profits dropped to £66m in the 28 weeks ended 6 March compared with £82m last time, but the figure was still better than average expectations of £65m.It has been a good year so far for Filtrona, the supplier of speciality plastic and fibre products, with first quarter results ahead of the board's expectations. Stripping out the contribution a year ago from the North American Plastic Profile and Sheet business, which was disposed of in March 2009, revenue was up 2% year on year in the first quarter at both reported and constant exchange rates (CER).Engineering and project management company AMEC has been signed up by French power generating company EDF Group to assist with the proposed delivery of four new nuclear reactors at Hinkley Point and Sizewell in the UK. Financial details of the contract have not been divulged.