Week Ahead: BSkyB, Reed Elsevier, Cadbury

24th Jul 2009 12:08

Pay TV and internet service provider BSkyB reports full-year results to 30 June 2009 on Thursday of next week. The Sky TV service has proved remarkably resilient in the recession though the accelerating rate of unemployment might soon start to have an effect. Churn - the percentage of subscribers leaving the service - is expected to be around 10% for the April to June quarter, with average revenue per user set to be around £450 per annum.Publishing group Reed Elsevier publishes interim results, the first set of results under the watch of new chief executive officer Ian Smith."Although there are a number of issues that will need to be addressed, including the future of RBI, the competitive position of LexisNexis, and a wide range of strategic portfolio options, we do not expect any major announcements to be made at this stage," said Japanese broking house Nomura.The broker is expecting a strong performance from the Elsevier Science and Risk Analytic divisions.Chocolate and chewing gum company Cadbury also releases interim results. It made a slowish start to the year, with first quarter sales up 2% year on year, but Singer Capital Markets expects this to accelerate to 4.4% in the second quarter. "Overall we expect PBT [profit before tax] to rise by 20% to £255m and EPS by 22% to 13.5p, firmly underpinning our forecast of 17% EPS growth for the year," Singer said. Tuesday July 28INTERIMSCroda, Informa, Provident Financial UK ECONOMIC ANNOUNCEMENTSCBI Distributive Trades Reported Volumes of SalesINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Confidence (US) (14:00)FINALSDatong, Dhir India Investments, Games Workshop Group, PZ CussonsEGMSMetals ExplorationAGMSAberdeen All Asia Inv Trust, Bezant Resources, Clean Air Power, designcapital, IS Pharma, Mobile Tornado, Rensburg Sheppards, Supercart, Tangent Communications, TR Property Inv Trust, TR Property Inv Trust Sigma Shares, Vodafone GroupFINAL DIVIDEND PAYMENT DATEBraemar Shipping Services, C&C Group, IBIS Media VCTQUARTERLY RESULTSARM, BP, Wolfson MicroelectronicsTRADING STATEMENTSage, VedantaWednesday July 29INTERIMSBodycote, Cadbury, CSR, Inchcape, Manganese Bronze, Morgan Crucible, RAB Capital, Reckitt Benckiser, Tarsus GroupINTERIM EX-DIVIDEND DATEAberforth Geared Capital & Income Trust Income Shares, Aberforth Smaller Companies Trust, British Portfolio Trust, Brunner Inv Trust, Domino's Pizza UK & IRL, Fenner, Heavitree, Microgen, Throgmorton TrustQUARTERLY EX-DIVIDEND DATEEquity Partnership Income Shares, GlaxoSmithKlineINTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US) (19:00)Crude Oil Inventories (US) (13:30)Durable Goods Orders (US) (13:30)UK ECONOMIC ANNOUNCEMENTSBank of England Consumer CreditBank of England Net Lending Secured on DwellingsBank of England Loan Approvals for House PurchaseFINALSDignity, Eco Animal Health Group, Renishaw, Roxi PetroleumAGMSADDleisure, Alizyme, Andes Energia, AssetCo, CareCapital, Cattles, Cropper (James), Downing Protected VCT II, Downing Protected VCT II, Downing Protected VCT III, Downing Protected VCT VI, Downing Protected VCT VII, Elektron, Halfords Group, Hogg Robinson, Lupus Capital, Polar Cap Technology Trust, Roxi Petroleum, Shanta Gold, Umeco, ZiraxFINAL DIVIDEND PAYMENT DATEAcal, Rensburg AIM VCT, RIT Capital PartnersFINAL EX-DIVIDEND DATEEdinburgh New Income Trust, Investec, M&G High Income & Growth Units, New City High Yield Fund Ltd., Northern Foods, Robert Wiseman, Tangent Communications, TanjongQUARTERLY RESULTSBanco Santander SA, BG, CSR, Just Retirement, Lancashire HoldingsTRADING STATEMENTSeasyJet, St. James's Place, UmecoThursday July 30INTERIMSBAE Systems, Brit Insurance, Centrica, Charter, Hutchison China Meditech, Invista Real Estate Investment Management Holdings, Laird, Mediwatch, National Express Group, Reed Elsevier, Rexam, Rolls-Royce, RPS GroupQUARTERLIESAstraZeneca, BTQUARTERLY PAYMENT DATEHenderson Global Property Companies Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSInitial Jobless Claims (US) (13:30)UK ECONOMIC ANNOUNEMENTSGfK Consumer ConfidenceNationwide House PricesFINALSBritish Sky Broadcasting GroupTRADING STATEMENTSAntofagastaEGMSCentral China Goldfields, LonZimAGMSAndrews Sykes, Brainspark, Caffyns, Cellcast, Central China Goldfields, Everfor Resources, F&C Global Smaller Companies, FFastFill, Framlington AIM VCT 2, GB Group, Halma, Hansa Trust, Hansa Trust 'A' Shares, New Century AIM VCT, Northumbrian Water Group, Pennon Group, Renaissance US Growth Inv Trust, VictoriaFINAL DIVIDEND PAYMENT DATEBurberry Group, CaffynsFriday July 31INTERIMSAnglo American, Jardine Lloyds Thompson, Keller Group, Rank Group, Rentokil Initial, United Business MediaINTERIM DIVIDEND PAYMENT DATEChrysalis VCT, Fountains, Octopus Phoenix VCT, Octopus Titan VCT 1, Octopus Titan VCT 2, Paragon Group Of Companies, Pennine AIM VCT 5QUARTERLIESBritish AirwaysQUARTERLY PAYMENT DATEAberdeen Development Capital, Carador EUR Shares, Mercantile Inv Trust, New Star Financial Opportunities Ltd., Schroder Income Growth Fund, Torchmark CorpINTERNATIONAL ECONOMIC ANNOUNCEMENTSChicago PMI (US) (14:45)Employment Cost Index (US) (15:00)Personal Consumption Expenditures (US) (13:30)EGMSChina Medical System Holdings, Zeehan ZincAGMSAlbion Protected VCT, Alecto Energy, Diamond Circle Capital, Evergreen Securities, Futuragene, Hertford International, Irvine Energy, Montanaro UK Smaller Companies Investment Trust, Netplay TV, Pantheon Leisure, Phoenix IT Group, Plastics Capital, ReneSola, SABMiller, SDI Group, Tai Zi Capital, Upstream Marketing and Communications Inc. (DI), Westside AcquisitionsTRADING ANNOUNCEMENTSLondon Capital Group, VedantaFINAL DIVIDEND PAYMENT DATEAberdeen All Asia Inv Trust, Albion Venture Capital Trust, Alliance Trust, Aveva Group, BlueStar SecuTech, De La Rue, Downing Protected VCT VI, Downing Protected VCT VII, F&C Commercial Property Trust Ltd., Glasgow Income Trust, Kiotech International, MS International, New City Energy, Norman Hay, Octopus Apollo VCT 1, Octopus Apollo VCT 2, Schroder UK Growth Fund, Severn Trent, Shires Income, Tate & Lyle, Tawa, Velosi