Tuesday preview: Aggreko and Intercontinental Hotels

4th Aug 2014 15:38

A hectic earnings session on Tuesday is in store for markets with a batch of results from companies including Aggreko and InterContinental Hotels. Half-year results from temporary power firm Aggreko are expected to reflect the impact of foreign exchange headwinds. Most of Aggreko's power supply business is overseas, with the UK accounting for less than 10%, so the strength of sterling has hurt the group's overall results over the past year.In its first quarter trading update, Aggreko outlined such concerns which dragged its revenue back by 4% on a reported basis.Numis said in a note released on Monday: "We remain positive on the long-term structural potential of the temporary power market but on a 2015 estimated price-to-earnings rating of 20 times we believe the shares need a pick-up in power projects to move on from here."Consensus estimates are for pre-tax profit of £127m, down from £146m previously.Intercontinental Hotels, on the other hand, is forecast to report a "positive set of interim numbers", according to Numis. "We see potential for a full year earnings upgrade. Consensus earnings before interest and tax for the interims, we believe, is $305m but we forecast $312m," the broker said. However, the analyst warned that refurbishment costs in Paris and New York, liquidated damages in the US and Europe and hotel disposals might impact results. Tuesday 5 AugustINTERIMSAggreko, Avocet Mining, Bank Pekao SA GDS (Reg S), Clarke (T.), Dragon Oil, Endeavor International Corp., Fresnillo, Genel Energy, Hill & Smith Holdings, Inmarsat, InterContinental Hotels Group, LSL Property Services, Meggitt, Novae Group, Rex Bionics, Rotork, SDL, Share plc, Standard Life, VernalisINTERNATIONAL ECONOMIC ANNOUNCEMENTSFactory Orders (US) (15:00)Goods Orders (US) (15:00)ISM Non-Manufacturing (US) (15:00)ISM Services (US) (15:00)PMI Composite (EU) (09:00)PMI Services (EU) (09:00)Retail Sales (EU) (10:00)Q2Avocet Mining, Endeavor International Corp., InterContinental Hotels GroupGMSRenovo GroupFINALSNWF GroupIMSS888 HoldingsAGMSMonks Inv Trust, Schroder UK Growth FundUK ECONOMIC ANNOUNCEMENTSOfficial Reserves (09:30)PMI Composite (09:30)PMI Services (09:30)FINAL DIVIDEND PAYMENT DATEBonmarche Holdings, E2V Technologies, Johnson Matthey, TR Property Inv TrustRD