Coronavirus - we're here to help
From how to access your account online, scam awareness, your wellbeing and our community we're here to help.

Skip to main content
  • Register
  • Help
  • Contact us
  • Log in to HL Account

Next week on the stock market

What to expect from a selection of FTSE 100, FTSE 250 and selected overseas shares 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 FTSE 100, FTSE 250 and selected other companies scheduled to report next week:

  • British Land's results are unlikely to make pleasant reading
  • Kainos could present a surprisingly mixed picture
  • Britvic will tell investors whether or not they’ll be getting a dividend

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

25-May
No FTSE 100 or FTSE 250 reporters
26-May
Kainos Full Year Results
Softcat Trading Statement
27-May
British Land* Full Year Results
Britvic Half Year Results
Caledonia Investments Full Year Results
Pershing Square Holdings Q1 Results
Petropavlovsk Full Year Results
Provident Financial Q1 Trading Statement
St. James's Place New Business Update
28-May
IWG Q1 Trading Statement
FirstGroup Full Year Results
PayPoint Full Year Results
29-May
No FTSE 100 or FTSE 250 reporters

*Companies on which we will be writing research.

British Land – Nicholas Hyett, Equity Analyst

British Land has been facing headwinds for a while. However, the coronavirus outbreak has turbo-charged existing trends, with the result that the group has already suspended dividend payments this year. For a company that’s meant to be all about dividends that’s a major step.

Retail accounts for 41% of the property portfolio by value. Back at the end of March just 12% of the group’s units were open and we doubt things have improved much since then. Rent collection is likely to be low, and with debts to pay we will be looking at the cash flow statement with an unusual degree of attention.

While we think rent collection will be better in the London offices that make up 55% of the portfolio, there is still the issue of valuation.

In the medium term the prospects for physical retail space don’t look good, and widespread adoption of working from home practices could also undermine long term rental growth in the London portfolio too. We should get the group’s most recent valuation assessment alongside full year results, and while it’s certain to be unpleasant reading, the real question is how unpleasant.

See the latest British Land share price, charts and how to trade


Sign up for British Land updates

Kainos – Nicholas Hyett, Equity Analyst

Kainos' business can be split into two broad categories. First it provides digital transformation and platform services to the UK government, particularly the NHS. Secondly it provides services to commercial customers associated with the Workday HR and internal finance products.

Much of the group’s revenues are recurring, contracted in advance, and, at least in theory, should be reliable even in these conditions. The reality however, may be quite different. Transitioning to new HR systems is unlikely to be top of many to do lists just now, and that could slow or even reverse what has been a high growth area in recent times.

So far the impact of lockdowns on the group has been limited, but any commentary on the more recent past or future prospects in next week’s results are worth eyeing closely. Management are clearly nervous, having already taken steps to reduce costs and cancelled the final dividend.

With £40m of cash in the bank and no debt, we’re hopeful the recent steps turn out to be an abundance of caution.

See the latest Kainos share price, charts and how to trade

Britvic – Sophie Lund-Yates, Equity Analyst

In March Britvic, which brings us brands like Lipton, Robinsons and Pepsi (in the UK), estimated that the lockdown would cost somewhere between £12m and £18m in cash profits each month. For context, in the full year ending 31 September 2019 the group made around £18.7m a month in the equivalent cash profits. Next week management may give us a better idea of what the true impact has been so far, but keep in mind the full set of results only runs to the end of March, so we won’t know the full impact of lockdowns yet.

In the same statement Britvic said it would tell shareholders whether or not they’ll be getting an interim dividend in its half year results. The group has a strong liquidity position and, unless the impact of the lockdown has been towards the higher end of the range or management sees darker clouds on the horizon, we think there’s a good chance they’ll pay – although there are no guarantees.

See the latest Britvic share price, charts and how to trade

Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by Thomson Reuters. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

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.


What did you think of this article?


Share insight: our weekly email

Sign up to receive weekly shares content from HL

Please correct the following errors before you continue:

    Existing client? Please log in to your account to automatically fill in the details below.

    Loading

    Your postcode ends:

    Not your postcode? Enter your full address.

    Loading

    Hargreaves Lansdown PLC group companies will usually send you further information by post and/or email about our products and services. If you would prefer not to receive this, please do let us know. We will not sell or trade your personal data.

    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.

    Editor's choice – our weekly email

    Sign up to receive the week's top investment stories from Hargreaves Lansdown. Including:

    • Latest comment on economies and markets
    • Expert investment research
    • Financial planning tips
    Sign up

    Related articles

    Category: Shares

    Next week on the stock market

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

    Emilie Stevens

    18 Sep 2020 5 min read

    Category: Shares

    EV/EBITDA – Another way to value companies

    William Ryder, Equity Analyst, explains how investors can value companies using EV/EBITDA.

    William Ryder

    17 Sep 2020 3 min read

    Category: Shares

    Is Apple worth $2 Trillion?

    Emilie Stevens, Equity Analyst, looks at whether Apple is worth the asking price.

    Emilie Stevens

    17 Sep 2020 8 min read

    Category: Shares

    EBITDA – what is it and what does it mean for investors?

    Will Ryder, Equity Analyst, takes a closer look at this controversial accounting metric.

    William Ryder, Equity Analyst

    17 Sep 2020 3 min read