Thursday preview: Dairy Crest, Compass, ITE

29th Sep 2010 17:04

Milk and cheese producer Dairy Crest saw its shares take a hit earlier this month when rival Robert Wiseman Dairies issued a profit warning.The company felt moved to issue a statement to calm the markets, saying that though the market was "very competitive" it expected to deliver results that were in line with expectations.The ploy failed to work, and the share price remained under pressure until today it announced the renewal of a long term milk supply contract with supermarket chain Morrisons. That put some beef into the company's share price, after which Thursday's pre-close trading update for the six months to 30 September may prove anti-climactic.Sticking with the food theme contract caterer Compass Group issues a trading statement. In late July it upped its forecast for organic sales growth this year to 2.5% after an uptick in new business and an improvement in contract retention. "The rate of organic revenue growth has accelerated to 5.5% in the third quarter (2.0% for the nine months to 30 June 2010). This strong growth has been driven by increased new business wins across the group and a slight improvement in the rate of retention," Compass said.Exhibitions group ITE issues a trading statement covering the fourth quarter of its financial year.KBC Peel Hunt says the fourth quarter is minor in revenue terms for ITE, and expects a modest year on year decline of 7% to £13.5m from £14.6m last year to take full year revenues to £108.3m."More attention will be on the company's assessment for full-year costs, which will be the basis for any upgrade," the broker reckons.The GfK/NOP consumer confidence index is due to be released overnight and is expected to have retreated in September, having improved for the first time in six months in August. The change is expected to be minor, however, and may even remain unchanged from August's reading of -18.Net consumer credit edged up by about £0.2bn in August, economists think, in a repeat of July's reading. The Nationwide building society's house price index is expected to be released on Thursday, and looks like a hard one to call. Forecasts vary from a 0.2% fall to a 0.5% fall in September, giving a year on year gain of either 2.9% or 2.4%, depending on which extreme of the range you pick. In August, the index fell 0.9%, while the annual gain was 3.9%.INTERIMSGem BioFuels, HarbourVest Global Private Equity Ld, Harvey Nash Group, Hasgrove, M&C Saatchi, Transense Technologies, XCounter ABINTERIM DIVIDEND PAYMENT DATEAlbion Development VCT 'D' Shares, British Smaller Technology Companies VCT 2, Downing Distribution VCT 1, Eclectic Investment Company, Hardy Underwriting Bermuda, Japan Residential Investment Company, Low & Bonar, Reckitt Benckiser Group, Rights & Issues Inv Trust Income Shares, SR Europe Inv Trust, Temple Bar Inv Trust, TimeweaveINTERIM EX-DIVIDEND DATESeverfield-RowenQUARTERLY PAYMENT DATEMedicX Fund Ltd., Premier Energy & Water TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSRetail Sales (JPN)Industrial Production (JPN)Housing Starts (JPN)Construction Orders (JPN)Producer Prices (FRA) (07:45)Unemployment Rate (GER) (08:55)Consumer Prices Index estimate (EU) (10:00)Continuing Claims (US) (13:30)GDP (Final) (US) (13:30)Personal Consumption (US) (13:30)Initial Jobless Claims (US) (13:30)Chicago PMI (US) (14:45)NAPM Milwaukee (US) (15:00)UK ECONOMIC ANNOUNCEMENTSGFK Consumer Confidence (00:01)Nationwide House Price Index (07:00)GMSAfrican Eagle Resources, Finders Resources, Tanfield GroupFINALSEleco, Finsbury Food GroupAGMSBegbies Traynor Group, ContentFilm, Fiske, Gasol, Iimia Inv Trust, Lombard Risk Management, MediaZest, Network Technology, Oil & Gas Development GDR (Reg S), OPG Power Ventures, Redstone, Rockhopper Exploration, Sefton Resources, Triple Plate Junction, United CarpetsTRADING ANNOUNCEMENTSCompass Group, Dairy Crest GroupFINAL DIVIDEND PAYMENT DATEBHP Billiton, Cash Converters, Downing Absolute Income VCT 2, Downing Structured Opportunities VCT 1 'B' Shares