Thursday preview: BSkyB and Diageo report first quarter results

15th Oct 2014 16:27

British Sky Broadcasting (BSkyB) reports its first quarter results following its acquisition of Sky Italia and Sky Deutschland on Thursday.Numis said it expects a "solid set of results" with a 4% rise in revenue, profit before tax of £285m and earnings per share (EPS) of 13.3p.The broker also forecasts 47,000 net TV additions, modest progress in broadband/telephony and strong growth in connected services.The results come after shareholders approved the acquisition of Sky Italia and Sky Deutschland from Rupert Murdoch's 21st Century Fox in October. The transaction is expected to close in the second quarter, according to Numis."Our recent note European Union, 4 August, detailed our positive view on the enlarged group driven by i) fair acquisition prices paid ii) well-structured transaction, using minority stakes/equity to keep leverage sensible iii) synergy benefits in line with our expectations, though achieved more quickly than we had forecast and most importantly iv) headroom for expansion in markets with medium/long-term attractions."Since this note, BSkyB has secured bond market funding at particularly attractive rates, which should save c£85m in interest payments relative to our initial forecasts, equal to 3.5p on EPS."Fellow FTSE 100 company Diageo will also report its first quarter interims. The brewer is up against some tough comparators after reporting strong results the same period the previous financial year. It also faces short-term challenges in volatile emerging markets and stagnant demand in Western Europe."We do not expect the first quarter to be a catalyst for the shares," Numis said.Following the earnings session will be the release of revised Eurozone inflation and US initial jobless claims. US industrial and manufacturing production figures are also due.Thursday 16 OctoberINTERIMSBooker Group, Lombard Risk ManagementINTERIM DIVIDEND PAYMENT DATEMacfarlane Group, Melrose Industries, PPHE Hotel Group Ltd, RPS GroupINTERIM EX-DIVIDEND DATEBlackstar Group SE (DI), British Polythene Industries, Charles Taylor, Downing Planned Exit VCT 2011 (General A Shares), Downing Planned Exit VCT 2011 (General Shares), Downing Planned Exit VCT 2011 (Low Carbon Shares), Downing Planned Exit VCT 2011 (Structured A Shares), Downing Planned Exit VCT 2011 (Structured Shares), Investec Investment Trust 5% Cumulative Preference Stock 1, Kerry Group 'A' Shares, Learning Technologies Group , Manx Telecom , Mears Group, New Britain Palm Oil Ltd. (DI), Restore, Scisys, Smart Metering Systems, Spectris, Staffline Group, Ted Baker, TT Electronics, Walker GreenbankQUARTERLY EX-DIVIDEND DATEF&C Commercial Property Trust Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (EU) (10:00)Capacity Utilisation (US) (16:15)Consumer Price Index (EU) (10:00)Continuing Claims (US) (13:30)Crude Oil Inventories (US) (15:30)Harmonised Index of Consumer Prices (EU) (10:00)Industrial Production (US) (16:15)Initial Jobless Claims (US) (13:30)Philadelphia Fed Index (US) (15:00)GMSBango, Octopus Titan VCT 1, Octopus Titan VCT 2, Octopus Titan VCT 3, Octopus Titan VCT 4, Octopus Titan VCT 5FINALSAvacta Group, Game Digital, WH SmithIMSSBwin.party Digital Entertainment, Diageo, Evraz, Ferrexpo, Man Group, Mondi, Rank Group, RenishawSPECIAL EX-DIVIDEND PAYMENT DATETR European Growth TrustEGMSZhejiang Expressway Co 'H' SharesAGMSAberforth Geared Income Trust, Cambium Global Timberland Ltd., IG Group Holdings, Mattioli Woods, Meikles Ltd., Rank Group, RenishawTRADING ANNOUNCEMENTSEvraz, Speedy HireFINAL DIVIDEND PAYMENT DATEStandard Life UK Smaller Companies TrustFINAL EX-DIVIDEND DATEAvarae Global Coins, Clinigen Group, Close Brothers Group, Daejan Holdings, Galliford Try, Henderson EuroTrust, Redde, Strategic Equity Capital, TR European Growth Trust, Wilmington Group, WolseleyQ1British Sky Broadcasting Group