Thursday preview: British Land to report strong annual results, says UBS

13th May 2015 13:39

British Land is expected to report strong annual results, driven by rising capital values and increasing investment in UK real estate.UBS forecasts earnings per share of 30.7p, up from 29.4p a year earlier, and a dividend of 27.7p compared to 2014's 26.9p."We will be looking for commentary on the continued strength of the London office market and whether strong retail sales are translating into rental growth in British Land's retail assets," UBS analyst Osmaan Malik said in a note last week.The analyst said food retail will also continue to be a focus, particularly given the write-downs Tesco recently reported.Malik added: "Following British Land's recent deal with Tesco, British Land's stand-alone food store weighting has reduced of standalone food stores down to 58 (from 79)." In March, British Land sold its 50% interest in a joint venture portfolio of 21 stand-alone foodstores to Tesco and acquired the supermarket's 50% interest in two joint venture portfolios comprising shopping centres and retail parks.The broker gave British Land a 'buy' rating ahead of the results.The annual report comes as stocks in the property market have been buoyed by the general election outcome. With the Conservatives returning to power, the sector avoids Labour's plans for Mansion Tax and rent control.Thursday 14 MayINTERIMSEuromoney Institutional Investor, Grainger, Marston's, Mitchells & Butlers, UDG Healthcare Public Limited CompanyINTERIM DIVIDEND PAYMENT DATEJust Retirement Group, Photo-Me International, Volution Group (WI)INTERIM EX-DIVIDEND DATEAberdeen Asset Management, FDM Group (Holdings), Greencoat UK Wind, Regenersis, Sage GroupQUARTERLY EX-DIVIDEND DATEGlaxoSmithKline, MedicX Fund Ltd., Picton Property Income Ltd, Royal Dutch Shell 'A', Royal Dutch Shell 'B', Utilico Investments Ltd (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSContinuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)Producer Price Index (US) (13:30)FINALSBeximco Pharmaceuticals Ltd. GDR (Reg S), Hibernia Reit , NewRiver Retail LimitedIMSSAggreko, FBD Holdings, Hansard Global, Irish Continental Group Units, Keller Group, Merlin Entertainments , Old Mutual, Paddy Power, UTV MediaSPECIAL EX-DIVIDEND PAYMENT DATEFidessa GroupAGMSAmec Foster Wheeler, Arbuthnot Banking Group, Balfour Beatty, Cairn Energy, Caledonia Mining Corporation, Chime Communications, Exova Group , FBD Holdings, Fidelity European Values, Fox Marble Holdings, Hikma Pharmaceuticals, Hill & Smith Holdings, Hotel Corporation (The), Hygea VCT, ITV, Keller Group, Kings Arms Yard VCT, Lloyds Banking Group, LMS Capital, Melrose Industries, Merlin Entertainments , Mobeus Income & Growth 4 Vct, Next, Old Mutual, Paddy Power, Petrofac Ltd., ProPhotonix (DI), Prudential, Rathbone Brothers, Restaurant Group, Robinson, SIG, St James's Place, Stilo International, UBM, Unite Group, UTV Media, Vesuvius, Vesuvius, Xchanging, Xcite Energy Ltd. (CDI)TRADING ANNOUNCEMENTSSIG, Tungsten CorporationUK ECONOMIC ANNOUNCEMENTSRICS Housing Market Survey (09:30)FINAL DIVIDEND PAYMENT DATEIndigoVision Group, Ladbrokes, Standard Chartered, Tullett PrebonFINAL EX-DIVIDEND DATEAir Partner, Alent, BBGI SICAV S.A. (DI), Blackstar Group SE (DI), British American Inv Trust, Burford Capital , Carillion, Epwin Group, Fidessa Group, Global Invacom Group Limited (DI), Goals Soccer Centres, Hydro International, Inmarsat, Kingfisher, Management Consulting Group, Microgen, Northbridge Industrial Services, OneSavings Bank, Polyus Gold International Ltd, Quarto Group Inc., Robinson, Safestay, Sainsbury (J), Share plc, SQS Software Quality Systems AG, Volga GasQ1Telefonica SA