Among those currently scheduled to release results next week:
22-Sep |
|---|
No FTSE 350 Reporters |
23-Sep | |
|---|---|
Close Brothers Group | Full Year Results |
Kingfisher | Half Year Results |
Raspberry Pi | Half Year Results |
Smiths Group | Full Year Results |
TUI* | Trading Statement |
24-Sep | |
|---|---|
JD Sports Fashion* | Half Year Results |
25-Sep | |
|---|---|
Petershill Partners | Half Year Results |
26-Sep | |
|---|---|
Pennon Group | Q1 Trading Statement |
TUI charts a steady course despite some summer booking softness
TUI heads into next week’s trading update following a strong third quarter. Revenues were up 7% to €6.2bn and underlying operating profit rose 38% to €321mn, driven by robust performances in its Holiday Experiences and Cruises segments.
However, the competitive markets and airline operations remain under some pressure, with summer bookings down 2% year-on-year, impacted by heatwaves in source markets and the Middle East Conflict. Despite this, management has raised its full-year operating profit guidance to 9–11%, while revenue growth is expected to come in at the lower end of the 5–10% range. This indicates TUI’s managing to keep a tight grip on costs.
Net debt has continued to improve, now at €1.9bn, and further progress could strengthen the case for a potential return of dividends, but there are no guarantees. The upcoming trading statement should offer greater clarity on year-end performance, and with strong momentum in higher-margin segments, TUI appears well-positioned to meet its upgraded profit target.
The author holds shares in TUI.
JD Sports eyes second-half recovery
JD Sports reports half-year results next week. Its recent trading statement showed like-for-like sales falling by 3.0% in the second quarter, in line with market expectations, with all regions except Asia Pacific posting declines.
The sportswear retail sector continues to face headwinds from weak consumer confidence, with European markets particularly impacted by difficult comparatives following the boost from the men’s 2024 Euros. The company's strategic focus has shifted from aggressive expansion to optimising existing operations, particularly integrating US acquisitions like Hibbett, which now makes America JD's largest market with 36% of its sales.
Trends in the US are improving, and last we heard, full-year guidance was still on track. Management expects pre-tax profits of £885mn, weighted to the second half of the year.
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