Week Ahead: Lonmin, Dignity, Invensys

11th May 2012 08:04

Monday is unusually busy next week with miner Lonmin, undertaker Dignity and outsourcing specialist Serco among the big names reporting.Credit Suisse says interim results from Lonmin may be be an opportunity for the company to moderate growth plans in order to preserve the balance sheet. "Last year management announced a circa $2bn capital expenditure plan over 5 years to grow production from 750koz [thousands of ounces] to 950koz. However with an essentially flat ZAR [South African rand] platinum group metal [PGM] basket price since and the prospects of a continued downturn in crucial PGM end markets LMI may have to act early to prevent a covenant breach (which could happen as early as FY13 [fiscal 2013] under spot prices)," the Swiss bank said.Funeral services provider Dignity issues its first quarter results which will see the company going up against some strong comparative figures from a year earlier. As such, Panmure Gordon is expecting "a flat YOY [year-on-year] performance.""We are forecasting revenues of £60.5m, which is +2.4% ahead of the £59.1m delivered last year, with flat EBIT [earnings before interest and tax] of £22.6m YOY," Panmure Gordon revealed, adding that the first quarter typically accounts for 28% of annualised revenues and nearly 35% of EBIT, so sets the tone for the year.Later in the week engineer Invensys is set to report lower full year profits for the year to March 31st, with the median figure in the range of analyst forecasts being profit before tax of £171.4m, down from £222.0m the year before.Revenue is tipped to rise to £2.58bn from £2.49bn the year before. Monday May 14INTERIMSDiploma, LonminINTERNATIONAL ECONOMIC ANNOUNCEMENTSIndustrial Production (EU) (10:00)GMSJupiter Energy LtdFINALSGreat Eastern Energy Corp Ltd. GDRANNUAL REPORTIngenious Entertainment VCT 1 'C' SharesIMSSDignity, Renishaw, Serco GroupSPECIAL DIVIDEND PAYMENT DATESavillsAGMSIngenious Entertainment VCT 1, Ingenious Entertainment VCT 1 'C' Shares, Ingenious Entertainment VCT 1 'D' Shares, Ingenious Entertainment VCT 1 E Shares, Ingenious Entertainment VCT 1 F Shares, Ingenious Entertainment VCT 2, Ingenious Entertainment VCT 2 'D' Shares, Ingenious Entertainment VCT 2 E Shares, Ingenious Live VCT 1, Ingenious Live VCT 2, MCB Finance Group, Michelmersh Brick Holdings, MirLand Development Corp., RSA Insurance Group, Serco Group, Stratex InternationalFINAL DIVIDEND PAYMENT DATECommunisis, CRH, Delcam, Melrose, Merchants Trust, SavillsQ1Arnoldo Mondadori Editore SPATuesday May 15INTERIMSOMG, Sanderson GroupINTERIM DIVIDEND PAYMENT DATEGCP Infrastructure Investments Ltd.QUARTERLY PAYMENT DATEAbbott Laboratories, Marsh & Mclennan Cos Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBusiness Inventories (US) (13:30)Consumer Price Index (US) (13:30)GDP (Flash Estimate) (EU) (10:00)Gross Domestic Product (GER) (07:00)Manufacturing Inventories (US) (15:00)Retail Sales (US) (13:45)Retail Sales Inventories (US) (15:15)ZEW Survey (EU) (10:00)ZEW Survey (GER) (10:00)FINALSBabcock International Group, DCCIMSSCapital & Counties Properties , Evraz, G4S, Mithras Inv Trust, TT Electronics, Unite GroupAGMSBlackRock Latin American Inv Trust, Capita, Charles Taylor Consulting, Erste Group Bank AG, Hardy Underwriting Bermuda Ltd. (DI), International Power, NB Private Equity Partners Ltd., Proximagen Group, Standard Life Investments Property Income Trust Ltd., TMT Investments, TT Electronics, W H Ireland GroupUK ECONOMIC ANNOUNCEMENTSUK Trade (09:30)FINAL DIVIDEND PAYMENT DATECenkos Securities, Fyffes, HGCapital Trust, Kazakhmys, KBC Advanced Technologies, Rentokil Initial, Sagicor Financial Corp., Standard CharteredQ1Bouygues SA, New Europe Property InvestmentsWednesday May 16INTERIMSCompass GroupINTERIM EX-DIVIDEND DATESage GroupQUARTERLY EX-DIVIDEND DATEHoneywell International Inc., M Winkworth, MedicX Fund Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (EU) (11:00)Building Permits (US) (13:30)Capacity Utilisation (US) (16:15)Consumer Price Index (EU) (10:00)Crude Oil Inventories (US) (15:30)FOMC Interest Rate Minutes (US) (19:00)Harmonised Index of Consumer Prices (EU) (10:00)Housing Starts (US) (13:30)Industrial Production (US) (16:15)MBA Mortgage Applications (US) (12:00)New Car Registrations (EU) (10:00)Wholesale Price Index (GER) (07:00)FINALSC&C Group, Datatec Ltd. (DI), Lombard Risk Management, Speedy HireIMSSBovis Homes Group, Greggs, Hardy Oil & Gas, Hilton Food Group, Interserve, Tullow OilEGMSPsource Structured Debt Ltd.AGMSAberdeen Asian Income Fund Ltd., Aegon NV, Aminex, BG Group, Bovis Homes Group, Cape, Churchill China, CPP Group, Elringklinger AG, Fidelity European Values, Greggs, Hardy Oil & Gas, Hilton Food Group, Howden Joinery Group, Interserve, Jupiter Fund Management , Legal & General Group, Marshalls, Playtech Ltd., Princess Private Equity Holding Ltd., ProPhotonix (Reg S), Publishing Technology, Tribal Group, Tullow Oil, XchangingUK ECONOMIC ANNOUNCEMENTSClaimant Count Rate (09:30)GDP (output, income & expenditure) (09:30)Index of Services (09:30)Unemployment Rate (09:30)FINAL DIVIDEND PAYMENT DATEDairy Farm International Holdings Ltd. (Singapore), Hongkong Land Holding Ltd. (Bermuda), Hongkong Land Holding Ltd. (Jersey), Hongkong Land Holding Ltd. (Singapore), Jardine Matheson Holdingd Ltd. (Bermuda), Jardine Matheson Holdingd Ltd. (Jersey), Jardine Matheson Holdings Ltd (Singapore), Jardine Strategic Holdingd Ltd. (Bermuda), Jardine Strategic Holdingd Ltd. (Singapore), Logica, Mandarin Oriental International (Singapore), St James's Place, Wood Group (John)FINAL EX-DIVIDEND DATEAdvanced Medical Solutions Group, Capital & Counties Properties , Carillion, Computacenter, Derwent London, F&C Private Equity Trust, Glencore International, Inchcape, Inmarsat, Management Consulting Group, Mecom Group, Morrison (Wm) Supermarkets, Northbridge Industrial Services, Polymetal International, Provident Financial, Robinson, Sainsbury (J), SDL, Tandem Group, TP70 VCT, WhitbreadQ1New World Resources A SharesThursday May 17INTERIMSEuromoney Institutional Investor, Grainger, Marston's, OptosINTERNATIONAL ECONOMIC ANNOUNCEMENTSBloomberg Consumer Confidence (US) (14:45)Continuing Claims (US) (13:30)Initial Jobless Claims (US) (13:30)Leading Indicators (US) (15:00)Philadelphia Fed Index (US) (15:00)FINALS3i Group, Invensys, Investec, National Grid, Rugby Estates, Shanks Group, SSEIMSSAmlin, Aviva, Kier Group, Paddy Power, Premier Oil, UTV Media, Yule Catto & CoEGMSOrascom Construction Industries SAE GDR (Reg S)AGMSAmlin, Beacon Hill Resources, Brammer, Cookson Group, Essenden, Hikma Pharmaceuticals, Intertek Group, Lloyds Banking Group, LMS Capital, Manganese Bronze Holdings, Marsh & Mclennan Cos Inc., Next, Noricum Gold Ltd (DI), Prudential, Resolution Ltd., Restaurant Group, STM Group, Tanfield Group, Thalassa Holdings Ltd. (DI), UTV Media, Yule Catto & CoFINAL DIVIDEND PAYMENT DATEAviva, Kingspan Group, Man Group, Rathbone Brothers, Tullett PrebonQ1MHP SA GDR (Reg S)Friday May 18INTERIMSMitchells & ButlersINTERIM DIVIDEND PAYMENT DATEJames HalsteadINTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER) (07:00)GMSWildhorse Energy Ltd. (DI)FINALSBlinkx, JZ Capital Partners LtdIMSSChesnara, Keller Group, Kentz Corporation Ltd.SPECIAL DIVIDEND PAYMENT DATEMillennium & Copthorne HotelsAGMSChesnara, Computacenter, Fresnillo, Huntsworth, JSC Kazkommertsbank GDR (Reg S), Keller Group, Kentz Corporation Ltd., Menzies(John), Michael Page International, Total ProduceFINAL DIVIDEND PAYMENT DATEArbuthnot Banking Group, ARM Holdings, Clarke (T.), Downing Planned Exit VCT 2011 (General Shares), Downing Planned Exit VCT 2011 (Low Carbon Shares), Downing Planned Exit VCT 2011 (Structured Shares), Goldenport Holdings Inc., Johnson Service Group, MCB Finance Group, Millennium & Copthorne Hotels, Morgan Sindall Group, National Express Group, Norish Units, office2office, Petrofac Ltd., Powerflute Oyj (DI), ReThink Group, Secure Trust Bank, Spirax-Sarco Engineering