Wednesday preview: G4S and Prudential report annual results

11th Mar 2014 15:33

G4S will post its full-year results on Wednesday amid reports the security company still faces the possibility of criminal proceedings over its alleged overcharging on electronic tagging contracts.The group has been accused of charging the government too much for the electronic monitoring of criminals. G4S faces a second Serious Fraud Office investigation after a justice ministry audit found that there were "serious issues" on their facilities management work for the courts in England and Wales. The firm offered to repay £24m for overcharging on the electronic monitoring contract but it was rejected by the justice ministry."G4S has endured a torrid 18-24 months, and we look for this set of FY results to bring this period to an end as the company begins its path back to growth," Numis said."We look for a further focus on the higher growth and return emerging markets, and a further exit of mature low growth, low return markets."The broker predicts 2013 profit before interest, tax and amortisation (PBITA) of £453m, down from £466m the previous year. Numis said it believes organic growth will have slowed to 2% in the second half from 5% in the first."We forecast a return to 5% in 2014 but do not factor in any margin improvement as the group adopts a period of investment in new areas. Overall, we believe that the long-term opportunities remain in place, but in the short-term the key lies with re-building the reputation and standing with some of its key customers."Prudential is also set to announce its annual results tomorrow and analysts predict profit growth of up to 10% to £2.7bn, driven by a strong performance in Asia and the US. "Overall we are looking for new business growth of 5% combined with an improvement in margin from 58.5% to 59.5%," according to Shore Capital.The life insurance firm is expected to raise its dividend by as much as 6% with scope for a "positive surprise" Panmure said. "There could be some very good news."Lastly, conditional share trading in Poundland and Pets at Home is due to start tomorrow.Wednesday March 12thINTERIMSBrooks Macdonald GroupINTERIM EX-DIVIDEND DATECentaur Media, Dechra Pharmaceuticals, Foresight 3 VCT, Harbourvest Senior Loans Europe Ltd., Hargreaves Lansdown, ISG, Standard Life UK Smaller Companies Trust, Wilmington GroupQUARTERLY PAYMENT DATEUnileverQUARTERLY EX-DIVIDEND DATEBritish Assets Trust, Land Securities Group, XP Power Ltd. (DI)INTERNATIONAL ECONOMIC ANNOUNCEMENTSCrude Oil Inventories (US) (14:30)Industrial Production (EU) (10:00)MBA Mortgage Applications (US) (11:00)Treasury Budget Statement (US) (18:00)Interest rate decision (Thailand)GMSImpact Holdings, Telfonica Czech Republic A.S. GDR (144A/REG S)FINALSAccess Intelligence, Cloudbuy, Ferrexpo, French Connection Group, G4S, Hikma Pharmaceuticals, Kenmare Resources, MirLand Development Corporation, Servelec Group , StatPro Group, Telecom Egypt SAE GDS (Regs), Hochschild Mining, Modern Water, PrudentialANNUAL REPORTMan GroupSPECIAL EX-DIVIDEND PAYMENT DATEDirect Line Insurance Group, Plus500 Ltd (DI)EGMSThird Point Offshore Investors LimitedAGMSC A SperatiFINAL DIVIDEND PAYMENT DATEIncome & Growth VCTFINAL EX-DIVIDEND DATEAL Noor Hospitals Group, Avesco Group, British American Tobacco, British Polythene Industries, CareTech Holding, Costain Group, CQS Rig Finance Fund Ltd., Crest Nicholson Holdings, Direct Line Insurance Group, Domino's Pizza Group, FBD Holdings, Hammerson, Hellermanntyton Group, Meggitt, MTI Wireless Edge Ltd., Paddy Power, Plus500 Ltd (DI), Polar Capital Global Financials Trust, Randgold Resources Ltd., RM, Safestore Holdings, Serco Group, Standard Chartered, Temple Bar Inv TrustRD