Among those currently scheduled to release results next week:
10-Aug | |
|---|---|
HgCapital Trust | Q2 Results |
Plus500 | Half Year Results |
TSMC | Corporate Sales Release |
11-Aug | |
|---|---|
Atalaya Mining Copper | Half Year Results |
Bellway | Q4 Trading Statement |
Genuit Group | Half Year Results |
InterContinental Hotels Group | Half Year Results |
International Workplace Group | Half Year Results |
Lion Finance Group | Half Year Results |
Spirax Group | Half Year Results |
12-Aug | |
|---|---|
Balfour Beatty | Half Year Results |
TUI* | Q3 Results |
13-Aug | |
|---|---|
Antofagasta | Half Year Results |
Costain Group | Half Year Results |
Entain | Half Year Results |
Pershing Square Holdings | Q2 Results |
Rank Group | Full Year Results |
Savills | Half Year Results |
14-Aug | |
|---|---|
Aviva* | Half Year Results |
TUI faces key summer bookings test
TUI’s third-quarter numbers are being published smack in the middle of its key summer holiday season. The group’s been pulling on its operational levers as hard as it can with efficiency improvements in the Markets + Airline division helping to offset some of the cost impact of the Middle East conflict. However, demand is also suffering with summer bookings in the division down 7% at the last check. With the war still rumbling on, we’ll be keeping an eye out for any movement in that figure, and whether it points to a genuine softening in holiday appetite or a shift towards later bookings.
The uncertainty has seen management pull revenue guidance and issue a fairly wide range of €1.1-€1.4bn for full-year underlying operating profit. Forecasts are veering towards the upper end of that range with €0.3bn expected in next week’s results. But with the majority of profits set to be delivered in the fourth quarter, the key section to watch will be the outlook.
Aviva has the momentum but faces a mixed insurance backdrop
Aviva heads into half-year results with good underlying momentum, but against a mixed insurance backdrop. Wealth led the first-quarter, supported by Workplace and Platform flows, while Canadian general insurance profitability improved sharply. UK personal lines were stable, but commercial insurance is softening and claims inflation remains a risk. Investors should therefore focus on pricing discipline and underwriting margins rather than premium growth alone. Elsewhere, Aviva remains selective in bulk annuities, prioritising returns over market share, while the expanding Wealth and Health businesses offer less capital-intensive routes to growth.
Direct Line will be the bigger test. Early integration progress has been encouraging, with Aviva moving quickly to improve pricing, expand distribution through comparison websites and deliver capital benefits. The acquisition also creates a sizeable cross-selling opportunity across Aviva’s broad customer base, which should support retention and underlying growth. The solvency ratio is expected to recover as further Direct Line benefits come through; that’s important for rebuilding flexibility around dividends and buybacks, neither of which is guaranteed.
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.
