Wednesday preview: Sports Direct, IG Group

8th Sep 2009 18:00

Newcastle United owner Mike Ashley's sports retail business, Sports Direct updates the market on trading over the 13-week period from May to early September, and, like Newcastle United, things might be looking up for the company.A sunnier summer is likely to have helped sales. Singer Capital Markets is predicting 'sales growth of 6.2% in H1 alongside gross profit growth of 2.8%, driven predominantly by the UK Retail division where we forecast h1 sales growth of 7%,' but covers itself by adding that those predictions may prove to be conservative.There may be an update on developments with its trading partner in China, ITAT. The company said at the time of its preliminary results in mid-July that it had been in discussions with ITAT management concerning the development of the business, and some issues that were proving difficult to resolve, but those discussions were put on hold when ITAT was acquired by one of its largest suppliers.Financial derivatives trading house IG Group tends to do well in volatile markets, and its share price performance over the last year has been a text book definition of volatility as the share price recovers from a scare last November about rising bad debts. The company has since incorporated new software to reduce the chances of customers running up bad debts and while doubts still remain about growing competition in the foreign exchange arena in Japan, recent newsflow has been mostly positive.Broker Panmure Gordon is expecting an upbeat interim management statement. 'We forecast H1 2010E revenue growth of 9% to £138m and EPS growth of 9% to 12.7p, with lower doubtful debt charges, greater advertising/marketing costs and higher bonus expenses,' the broker said.INTERIMS21st Century Technology, Alliance Pharma, IG Group Holdings, Johnson Service Group, Norcon, Prezzo, VeltiINTERIM DIVIDEND PAYMENT DATECharter International, F&C Inv Trust, Law Debenture Corp.INTERIM EX-DIVIDEND DATE888 Holdings, Abbey Protection, Aegis Group, Amlin, Arriva, Baronsmead AIM VCT, Carillion, Chaucer Holdings, Chesnara, Churchill China, Computacenter, Concurrent Technologies, Delcam, Elementis, Evolution Group, Glanbia, Goldenport, Holders Technology, IMI, International Public Partnerships Ltd., JKX Oil & Gas, JPMorgan European Inv Trust Growth Shares, JPMorgan European Inv Trust Income Shares, Jupiter Second Split Trust Geared Growth Shares, Lavendon Group, Michael Page International, Molins, Nestor Healthcare, North Midland Construction, Novae Group, Randall & Quilter Investment, Regus, Robert Walters, Shire Plc, Shore Capital, SR Europe Inv Trust, Wellstream Holdings, WSP GroupQUARTERLY PAYMENT DATEProdesse Investment Ltd., Royal Dutch Shell 'A', Royal Dutch Shell 'B'QUARTERLY EX-DIVIDEND DATEBritish Assets Trust, Orpak SystemsFINALSA&J Mucklow, Avingtrans, Morse, Thorntons, Town Centre SecuritiesAGMSAssura Group, Atkins (WS), Berkeley Group Holdings Units, Braveheart Investment Group, Dart Group, PHSC, Puma VCT I, Puma VCT II, Puma VCT III, Puma VCT IVTRADING STATEMENTSSports DirectUK ECONOMIC ANNOUNCEMENTSBRC Shop Price Index (10:30)Nationwide Consumer Confidence (00:01)Visible Trade Balance (09:30)INTERNATIONAL ECONOMIC ANNOUNCEMENTSFed Beige Book (USA) (19:00)Consumer Prices Index (GER) (07:00)Machine Tool Orders (JPN)FINAL EX-DIVIDEND DATE888 Holdings, ACM Shipping, Airsprung Furniture, Carpetright, Colefax Group, Diageo, Gartmore Fledgling Trust, Hampson Industries, Hargreaves Lansdown, Henderson Diversified Income Ltd., Henderson Smaller Companies Inv Trust, IG Group Holdings, London & St lawrence Inv Co., Mid Wynd International Inv Trust, New FCPT Ltd., Scott Wilson, Synergy Healthcare