Tuesday preview: TUI, Greene King, house prices

30th Nov 2009 16:34

After Thomas Cook announced better than expected interim results on Monday, attention turns to its big rival, TUI Travel, scheduled to release half-year figures on Tuesday.The tour operator should return to profitability, with the market expecting a profit before tax of £311.5m, compared to a loss of £266.6m the year before. The improvement has been achieved through cost savings following the merger of First Choice and the tourism arm of TUI Ag, however, rather than top line growth. Sales are forecast to ease slightly to £13,903m from £13,932m.The company has battled against swine flu, high fuel prices and slumping consumer confidence which has encouraged many holidaymakers to take their annual holiday in their native country rather than abroad.Load factors for the winter season are expected to be down year on year but the company has cut capacity and so improved margins should be a compensatory factor.Real ale brewer Greene King has incurred the wrath of the Campaign for Real Ale with its policy of buying up brewing companies and keeping the tied pubs while closing down the brewery, but it is a business model that seems to be paying dividends for the company.Deutsche Bank expects the brewer of the best selling draught ale in the UK to report a 2% fall in interim pre-tax profits to £59.2m. Although the beer continues to sell well, it is likely to be the food sales in the pubs that are driving the company's performance, however, particularly in Scotland, where the once independent Belhaven Brewery is now under the Greene King aegis. The Nationwide Building Society is expected to announce a month on month increase in house prices of around 0.4% for November. This would represent the seventh successive monthly increase but also the smallest increase since April. INTERIMSBango, Bglobal, Datong, Greene KingINTERIM DIVIDEND PAYMENT DATELadbrokesQUARTERLY PAYMENT DATEJPMorgan Claverhouse Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSConstruction Spending (US) (15:00)Consumer Confidence (US) (22:00)ISM Manufacturing (US) (15:00)ISM Price Paid (US) (15:00)Pending Home Sales (US) (15:00)PMI Manufacturing (EU) (09:00)PMI Manufacturing (FRA) (08:50)PMI Manufacturing (GER) (08:55)Unemployment Change (GER) (08:55)Unemployment Rate (GER) (08:55)FINALSCharacter Group, Gooch and Housego, ITE Group, Shaftesbury, TUI TravelEGMSNaya Bharat Property CompanyAGMSBlackRock Greater Europe Inv Trust, Brookwell Ltd. 'A' Shares, Brookwell Ltd. 'B' Shares, GR Holdings, Hargreaves Lansdown, Indian Energy , International Biotech Trust, Lewis Charles Romania Property Fund, PlexusTRADING ANNOUNCEMENTSCyril SweettUK ECONOMIC ANNOUNCEMENTSPMI Manufacturing (09:30)FINAL DIVIDEND PAYMENT DATEAnimalcare Group