Week ahead: Prudential, Friends Provident, Intercontinental Hotels

7th Aug 2009 12:51

Life insurance groups take centre stage next week on an otherwise quiet week as the holiday season really kicks in. The sector has already had mixed messages about prospects, with both Legal & General and Aviva cutting their dividends, but it is the turn of Prudential and Friends Provident to give some firmer idea of the sector's short-term prospects. The Pru's capital position may attract more attention than normal this time especially losses on its credit portfolios. Brokers expect an interim dividend of around 6p per share. Friends Provident has a more pressing issue of how to deal with the attentions of self-styled industry consolidator Resolution. It has rejected Resolutions merger proposals so far, but talk still persists that a deal could be done. If Friends is serious about keeping independent, it needs some good figures here. Expect a dividend of 1.3p.Broker Charles Stanley expects Intercontinental Hotels report a very weak set of interim results, reflecting tough conditions in the global hotels industry and high operational gearing. it expects global constant currency revenue per room to be down by 14%. The broker expects profits will fall to $135m from $232m, with a maintained dividend of 12.2c.Monday August 10INTERIMSForbidden Technologies, Morgan SindallINTERIM DIVIDEND PAYMENT DATEPressure TechnologiesEGMSDatang Intl HAGMSNoventaFINAL DIVIDEND PAYMENT DATEBisichi Mining, Hansa Trust, Hansa Trust 'A' Shares, MDM Engineering GroupQUARTERLY RESULTSFirst Quantum MineralsTuesday August 11INTERIMSCollins Stewart, Friends Provident, Greggs, Intercontinental Hotels, Prodesse Investment Ltd.INTERIM DIVIDEND PAYMENT DATECirefQUARTERLY EX-DIVIDEND DATEAddax PetroleumFINALSNWF GroupAGMSAlbion Enterprise VCTUK ECONOMIC ANNOUNCEMENTSBRC Sales Monitor (10:30)FINAL DIVIDEND PAYMENT DATEElektronWednesday August 12INTERIMSBalfour Beatty, Smurfit Kappa Group, Soco International, Universe GroupINTERIM DIVIDEND PAYMENT DATESafestoreINTERIM EX-DIVIDEND DATE4imprint Group, BlackRock Latin American Inv Trust, Charter International, Genetix Group, Ladbrokes, Law Debenture Corp., Meggitt, Millennium & Copthorne Hotels, Nichols, RSA Insurance Group, Schroders, Spirent Communications, Standard Chartered, Standard LifeQUARTERLY EX-DIVIDEND DATEBP, ING UK Real Estate Income Trust Ltd., JPMorgan Claverhouse Inv TrustAGMsDatatec (DI), Gemstones of Africa Group, Invesco Asia Trust, Mountview Estate, Rambler Media GroupUK ECONOMIC ANNOUNCEMENTSBoE Inflation Report (09:30)FINAL DIVIDEND PAYMENT DATEFramlington AIM VCT 2FINAL EX-DIVIDEND DATEAtkins (WS), Atlantis Japan Growth Fund, BT Group, DS Smith, European Assets Trust, Greene King, Northumbrian Water Group, Pennon GroupQUARTERLY RESULTSTUI TravelThursday August 13INTERIMSPrudential, Spring GroupAGMSInvestec, Software Radio TechnologyFINAL DIVIDEND PAYMENT DATEBritish Smaller Companies VCT, Caledonia Investments, GB Group, VT GroupQUARTERLY RESULTSCryptologic Ld, European Goldfields Limited, Western Canadian Coal CorporationFriday August 14INTERIMSAtlas Estates, PayPointINTERIM DIVIDEND PAYMENT DATEAsset Man Inv Trust, IDOXQUARTERLY PAYMENT DATEBritish Land CoEGMSNetplay TV, TelspecAGMSAmur Minerals, Gulf Keystone Petroleum, Heath (Samuel) & Sons, Lewis Charles Sofia Property Fund LimitedFINAL DIVIDEND PAYMENT DATEBusiness Post Group, Cropper (James), Intermediate Capital Group, Invesco Asia Trust, Majestic Wine, Montanaro UK Smaller Companies Investment Trust, Noble AIM VCT, Sepura, Tanjong, Welsh Industrial Inv Trust