Week Ahead: Whitbread, Carnival, Kesa

11th Dec 2009 09:42

Hotel and coffee chain group Whitbread is set to issue a third quarter trading update on Monday, and once again the performance of the company's Costa Coffee chain is expected to be a highlight.The company is so enamoured of the coffee business that it is looking to expand in eastern Europe by means of a possible offer for AIM-listed Coffeeheaven.Things have also been looking up at its hard pressed budget hotel chain Premier Inn. Although like for like sales were down 7.5% year on year in the six months to 27 August, the company's management spoke of an improving trend.Having sailed through choppy conditions for much of the year cruise operator Carnival said third quarter revenues were more buoyant than anticipated, and responded by lifting full year 2009 earnings guidance to between $2.16 and $2.20 a share from a previous range of $2.00 to $2.10.Broker Charles Stanley thinks the company will hit the top end of the range when it publishes full year results on Friday, though earnings per share of $2.20 would still represent a fall from the $2.90 achieved last year.The slide in earnings can be attributed to a precipitous fall in ticket yields plus higher fuel costs. Performance in North America has been hit especially hard by the global recession with customers, unsettled by the employment picture, putting off bookings until the last minute - or not booking at all.In Europe, where the market is dominated more by those who have retired from work, the market has been a bit more resilient. Charles Stanley is predicting profit before tax of $1,765m, down from $2,377m last year, on revenue of $13,225m, down from $14,646m.Comet store owner Kesa Electricals issues interim results on Wednesday, and a read across from Currys owner DSG International, which said at the end of last month that it was seeing improving trends in a number of its businesses, would suggest that life is getting less hard for Kesa.DSG, however, is in the midst of rolling out new store concepts across its portfolio, with positive results, and this may have put pressure on Kesa in the UK, where Comet traditionally goes head to head with Currys.Monday December 14INTERIMSO Twelve EstatesFINALSRWS HoldingsIMSSWhitbreadEGMSAscent ResourcesAGMSBaronsmead VCT, Baronsmead VCT 2, Kopane Diamond Developments, Pan African Resources, Starvest, Uranium ResourcesTuesday December 15INTERIMSPrivate and CommercialINTERIM DIVIDEND PAYMENT DATEPayPointQUARTERLY PAYMENT DATECryptologic LdINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (GER)Empires State Manufactacturing (US)Industrial Production (US) Producer Price Index (US) FINALSRenovo GroupAGMSAisi Realty Public, Baqus, Connaught, Energybuild, Firestone Diamonds, Imperial Innovations, JPMorgan Chinese Inv Trust, Octopus Eclipse VCT 1, Rubicon Software, Tristel, Vietnam Property Fund Ltd., Watford LeisureFINAL DIVIDEND PAYMENT DATEWorld Careers NetworkWednesday December 16INTERIMSKesa Electricals, Polar Cap Technology TrustINTERIM DIVIDEND PAYMENT DATEUnileverINTERIM EX-DIVIDEND DATEAtkins (WS), Babcock International Group, Cropper (James), Halfords Group, Intelek, KCOM Group, London and Associated Properties, Mitie Group, Northumbrian Water Group, red24, Telford Homes, United Utilities GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (EU)Consumer Price Index (US) Current Account (US)FOMC Interest Rate (US)Housing Starts (US)IMSSPunch TavernsAGMSAdvance UK Trust, Charteris, Fidelity Special Values, Henderson Global Property Companies Ltd., Nautical Petroleum, Punch Taverns, Standard Life Equity Income TrustTRADING ANNOUNCEMENTSPetrofac LtdUK ECONOMIC ANNOUNCEMENTSUnemployment Rate (09:30)FINAL DIVIDEND PAYMENT DATEFidelity Asian ValuesFINAL EX-DIVIDEND DATEAlternative Networks, Carluccio's, Carr's Milling Industries, Ciref, Downing Protected VCT IV, Downing Protected VCT V, Forest Support Services, Marston's, OMG, Scottish Oriental Smaller Companies TrustThursday December 17INTERIM DIVIDEND PAYMENT DATEMan Group, UBC Media GroupINTERNATIONAL ECONOMIC ANNOUNCEMENTSInitial Jobless Claims (US)Leading Indicators (US) Philadelphia Fed Index (US)FINALSAdvanced Power ComponentsEGMSIrish Life and PermanentAGMSBritish Assets Trust, British Empire Securities & General Trust, Leed Petroleum, Norseman Gold, Templar MineralsTRADING ANNOUNCEMENTSTravis PerkinsUK ECONOMIC ANNOUNCEMENTSInternet Retail Sales (09:30)Retail Sales (09:30)FINAL DIVIDEND PAYMENT DATEING Global Real Estate Securities, Narborough PlantFriday December 18INTERIM DIVIDEND PAYMENT DATEEstablishment Inv Trust, Ferrexpo, Foresight 4 VCT, Hansa Trust, Hansa Trust 'A' Shares, Investec, Montanaro UK Smaller Companies Investment Trust, Rensburg AIM VCT, Straight, Young & Co's Brewery 'A'QUARTERLY PAYMENT DATEM&G Equity Inv Trust Income SharesFINALSCarnivalINTERNATIONAL ECONOMIC ANNOUNCEMENTSProducer Price Index (GER)EGMSGlobal MENA Financial Assets Ltd.AGMSAltona Energy, Cheerful Scout, JPMorgan Japanese Inv Trust, Keystone Inv Trust, Palmaris Capital, Sportingbet, Urals Energy Public Company, Victoria Oil & GasUK ECONOMIC ANNOUNCEMENTSPublic Sector Finances (09:30)FINAL DIVIDEND PAYMENT DATEAir Partner, Baqus, Charteris, Jarvis Securities, JPMorgan Chinese Inv Trust, JPMorgan Income & Growth Inv Trust Income Shares, JPMorgan Japanese Inv Trust, Lok'n Store Group, Mouchel Group, Standard Life Equity Income Trust, Trading Emissions, Tristel