Among those currently scheduled to release results next week:
01-Jun | |
|---|---|
Sirius Real Estate | Full Year Results |
02-Jun | |
|---|---|
British American Tobacco* | Half Year Trading Statement |
GB Group | Full Year Results |
Paragon Banking Group | Half Year Results |
03-Jun | |
|---|---|
B&M European Value Retail | Full Year Results |
Broadcom* | Q2 Results |
discoverIE Group | Full Year Results |
Ninety One | Full Year Results |
04-Jun | |
|---|---|
Capital Gearing Trust | Full Year Results |
CMC Markets | Full Year Results |
Mitie Group | Full Year Results |
05-Jun |
|---|
No FTSE 350 Reporters |
No surprises expected from BATS, but second half delivery will still be key
BATS started 2026 by guiding towards the lower end of medium-term growth targets, which are 3-5% for revenue and 4-6% for underlying operating profit. But that was before the Iran conflict, and with duty-free sales and tobacco volumes reportedly coming under pressure, we’re keen to hear whether these targets are still seen as achievable. The key variables in all of this are likely to be pricing and New Category sales, where the company’s a relatively strong player.
Profitability was always expected to be second-half weighted, and we should hear how much work there’s left to do in the latter part of the year. With guidance reiterated last month, we’re not expecting too many surprises in next week’s first-half update. Share buybacks and a yield of over 5% are a key attraction for the stock. However, these aren’t guaranteed, and we’ll be seeking assurances that net debt is heading back towards the target range of 2-2.5x underlying cash profit (EBITDA).
Broadcom looks set to post some mammoth growth numbers as AI demand soars
Broadcom heads into next week’s second-quarter results with expectations running high after a strong first quarter and an even stronger guide. Management expects revenue of around $22bn, up 47% year-on-year, with underlying cash profit margins of around 68%, driven by accelerating demand for custom AI accelerators and networking – though we expect investors will want a beat against those numbers. AI revenue is expected to grow by almost 140%, and investors will be watching closely to see whether that momentum continues to build.
Just as important as the numbers will be the order book and commentary on future demand. Broadcom’s custom chip model, where it works directly with large tech firms to build bespoke AI chips, has been gaining traction alongside the broader GPU market. Recent developments point to longer-term customer commitments, and we think the latest AI guidance, both near and medium-term, looks conservative. But a lot now rides on future orders and customer spending plans, so investors will want reassurance that demand visibility remains strong and that margins can hold up as AI revenue becomes the key driver of performance.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss. Yields are variable and not guaranteed.
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.
