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Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected other companies reporting next week.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

Among those currently scheduled to release results next week:

  • We’ll get an idea of whether Saga's travel business has restarted as planned
  • We’ll see if Compass' leaner structure can deliver on margin targets
  • CVS Group will let us know if the UK’s pet boom is still kicking, and what it means for investors

FTSE 100, FTSE 250 and selected other stocks scheduled to report next week:

20-Sep
No FTSE 350 Reporters
21-Sep
Compass Group* Pre-Close Trading Update
JTC Half Year Results
Kingfisher Half Year Results
22-Sep
Oxford BioMedica Half Year Results
PZ Cussons Full Year Results
Saga* Half Year Results
23-Sep
CVS Group* Trading Update
Investec Pre-Close Trading Update
Playtech Half Year Results
24-Sep
No FTSE 350 Reporters

*Events on which we will be updating investors.

Compass – Sophie Lund-Yates, Equity Analyst

As a contract caterer, sales collapsed for Compass over the course of the pandemic, but spending cuts helped keep the group from amassing piles of debt. While social restrictions are loosening, which is adding to demand, the recovery may be patchy with the delta variant still looming. That means it might have been more difficult for the group to reach its targets.

The group expected to operate at 80-85% of 2019 levels over the past quarter, which should translate into operating margins between 5.5% and 6%. This will be an important barometer of how much further Compass has to go before reaching its margin goal of 7%.

The cuts Compass made over the past year have created a leaner, more efficient organisation, so we’re optimistic that the group can deliver on its margin objectives even if demand isn’t quite as rosy as expected. Remember, nothing’s guaranteed though.

See the latest Compass share price, charts and how to deal

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Saga – Nicholas Hyett, Equity Analyst

Saga’s unique business, made up of both a travel business and personal insurance offerings, has struggled under the weight of the pandemic.

While insurance has done relatively well, all eyes will be on the travel side of the equation, which restarted cruising on 27 June. Management was optimistic about demand, with 73% of cancelled bookings retained. However, there’s a chance that delta variant concerns caused some to change their plans.

The balance sheet has been the other major point of interest in recent times. The significant debt associated with inactive cruise liners has been a burden, and saw the group subject to some punishing restrictions by its lenders. Since then the group’s raised new money by selling shares and issued £250m of new bonds. That should mean we see much healthier numbers next week.

See the latest Saga Studios share price, charts and how to deal

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CVS Group – Sophie Lund-Yates, Equity Analyst

A trading statement in July told us a lot of what to expect in next week’s full year results. Like-for-like sales rose 17.4%, and underlying cash profits will come in ahead of upgraded targets. That’s all great news, but what’s important is the outlook statement.

There are a lot of things going in the group’s favour, like the UK’s pet-ownership boom. But we wonder if there’s any sign of that slowing down yet. The other important update will be acquisitions. The group often adds to its family of vet clinics through buying up existing practices, rather than setting up its own. In July the group said it’s “well placed to pursue further targeted acquisitions”.

Finally we’d like a more specific update on net debt. This is expected to be well under the level of cash profits. Balance sheet flexibility is an important tool for CVS, because it gives it the firepower to fund those acquisitions.

See the latest CVS Group share price, charts and how to deal

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This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

Important notes

This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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