Tuesday preview: Severn Trent, Microgen

20th Jul 2009 15:38

Water company Severn Trent will issue its AGM statement tomorrow after it saw profits fall in the last financial year due to increased energy and commodity costs. Profit before tax for the year to March fell 12.9% to £167.6m. Underlying profit before interest, tax and exceptionals was flat at £470m affected by increased energy and commodity costs, an increase in infrastructure renewals expenditure and depreciation in Severn Trent Water.Software group Microgen is due to report interim results. Earlier this month the firm said first half figures are anticipated to be in line with expectations, while earnings for the full year are seen ahead of current market forecasts. "Despite the continuing difficult market environment, the first half of 2009 is anticipated to be in line with the board's expectations, but, as a result of the strong Microgen Aptitude Solutions Division (MASD) performance, and subject to contracts being finalised, earnings for the year are anticipated to be ahead of current market expectations," the group said at the time. Spread betting firm IG Index expects to post a strong rise in profits for the 12 month ended 31 March after a good finish to the year. The company said adjusted pre-tax profits should come in at £125m, compared with £98m the previous year, on revenues that climb to £257m from £184m. The UK and Australian businesses, which saw revenues fall in the third quarter, performed better in the last quarter, it said in early June.Tuesday July 21 INTERIMS Microgen FINALS IG Group Holdings AGMS API Group, Conexion Media Group, Equity Pre-IPO Investments Ltd., Fuller Smith and Turner, Johnson Matthey, Noventa, Sepura, Severn Trent, Speedy Hire UK ECONOMIC ANNOUNCEMENTS Public Sector Finances (09:30) FINAL DIVIDEND PAYMENT DATE British Polythene, Hasgrove, Man Group, TP70 2008 (I) VCT, TP70 2008 (II) VCT