Wednesday preview: Halfords, PZ Cussons

9th Jun 2009 17:31

In a quiet week for company results, bike and car parts retailer Halfords gets a chance to claim the spotlight with its full-year results on Wednesday. Market consensus is for adjusted profit before tax of £91.5m, up from £90.2m a year earlier, with earnings per share forecast to show a larger percentage rise, up from 29.3p to 30.92p thanks to the company's (currently suspended) share buy-back programme. Sales are tipped to top £790m.The decline in sat-nav prices has been a major headache for the company but otherwise sales have held up well in the recession, as car owners spend money on upgrading their existing cars rather than buying a new model, while the steady upwards creep of petrol prices is also likely to have boosted cycle sales. 'Gross margin is forecast to be up by c140bp, driven by a shift in mix towards the higher margin Car Maintenance category, an increase in the number of 'we-fit' jobs and sourcing gains,' reckons broker Charles Stanley. An update on the company's restructuring programme is expected along with further details of the group's strategic direction, which is likely to feature an increased focus on overseas expansion. PZ Cussons, best known in Britain for its Imperial Leather soap, issues a trading statement. The company's trading is expected to have held up well in the recession, even at its recent acquisition, the Sanctuary spa in Covent Garden, which might have been expected to suffer from customers cutting back on discretionary spending on self-pampering.INTERIM EX-DIVIDEND DATECare UK, Ciref, Education Development International, Jersey Electricity 'A', Keydata AIM VCT, MedicX Fund Ltd., Redhall Group, Scottish Inv Trust, Superglass Holdings, Victrex, ZytronicQUARTERLY PAYMENT DATERoyal Dutch Shell 'A'QUARTERLY EX-DIVIDEND DATEBritish Assets Trust, Panther SecuritiesINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (US) (13:30)Monthly Budget Statement (US) (19:00)Federal Reserve Beige Book (US) (19:00)Consumer Price Index (GER) (07:00)Manufacturing Output (FRA) (07:45)Industrial Production (FRA) (07:45)Machine Orders (JPN)Domestic CGPI (JPN)FINALSFocus Solutions, Halfords, Rensburg Sheppards, Vyke CommunicationsEGMSVatukoula Gold MinesAGMSAir China, Antofagasta, Colliers CRE, DataCash Group, Elderstreet VCT, Eurasian Natural Resources, Ideal Shopping Direct, Intelligent Environments, K3 Business Technology Group, London and Associated Properties, Shed MediaTRADING ANNOUNCEMENTSDolphin Capital Investors, PZ CussonsUK ECONOMIC ANNOUNCEMENTSManufacturing Production (09:30)Balance of Trade (09:30)Industrial Production (09:30)FINAL DIVIDEND PAYMENT DATECentrica, Matrix Income & Growth 4 VCT, Morrison (Wm) Supermarkets, PV Crystalox Solar, TomkinsFINAL EX-DIVIDEND DATEAdventis Group, Albany Inv Trust, Bioquell, Bond International Software, Booker Group, Camellia, Core VCT I, Core VCT II, Core VCT III, Development Securities, Iomart, Johnson Matthey, K3 Business Technology Group, M&C Saatchi, Martin Currie Pacific Trust, May Gurney Integrated Services, Mckay Secs., Mears Group, Melrose Resources, Murray Income Trust, Northern Investors Co., Orpak Systems, PayPoint, Printing.com, Restaurant Group, Ventus 1 VCT, Ventus 2 VCT, Ventus 3 VCT, Young & Co's Brewery 'A'