Among those currently scheduled to release results next week:
23-Jun | |
|---|---|
SDCL Energy Efficiency Income Trust | Full Year Results |
24-Jun | |
|---|---|
Bunzl* | Trading Statement |
Carnival* | Q2 Results |
Foresight Environmental Infrastructure | Full Year Results |
Inchcape | Trading Statement |
Telecom Plus | Full Year Results |
25-Jun | |
|---|---|
Sequoia Economic Infrastructure | Full Year Results |
26-Jun | |
|---|---|
Foresight Group Holdings | Full Year Results |
Moonpig Group | Full Year Results |
Patria Private Equity Trust | Half Year Results |
Serco Group | Trading Statement |
27-Jun |
|---|
No FTSE 350 Reporters |
Bunzl navigating challenges and eyeing recovery
Bunzl’s reputation as a steady ship is under some serious pressure after a disappointing first quarter that was as much self-inflicted as due to a weakening market. There was a downgrade to current year guidance, a pausing of the buyback, hunkering down the balance sheet, and questions being asked about medium-term growth.
North America, Bunzl’s largest and most profitable market, is facing headwinds due to missteps in pricing strategy and broader market pressures. We’re expecting to hear more in next week’s trading statement about how Bunzl has resolved some of the pricing issues and the ongoing impact of tariffs. Bunzl has historically been able to benefit in times of rising prices, and we’re still cautiously optimistic that some more positive commentary is around the corner.
Carnival cruising strong, navigating higher costs
Carnival is coming into dock for second quarter results next week, after a strong set of first quarter results driven by increases in both ticket sales and onboard revenue. At the last check the cruise operator was 80% booked for the full year, with last-minute demand and onboard spend showing exceptional strength. We’ll want to hear if recent geopolitical unrest has taken the wind out of Carnival’s sales.
The tensions in the Middle East have also seen fuel prices spike, which could limit the prospects of an upgrade to this year’s profit guidance.
The second quarter tends to be the strongest in terms of cash generation, so we will be monitoring whether Carnival has managed to reduce its net debt, which totalled $26.2bn at the end of March.
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