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Next week on the stock market

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

Important information - 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.

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Among those currently scheduled to release results next week:

26-Feb

Bunzl*

Full Year Results

27-Feb

Abrdn

Full Year Results

Croda International

Full Year Results

Smith & Nephew*

Full Year Results

Unite Group

Full Year Results

28-Feb

Aston Martin Lagonda*

Full Year Results

Bluefield Solar Income Fund

Half Year Results

Derwent London

Full Year Results

Primary Health Properties*

Full Year Results

Reckitt Benckiser*

Full Year Results

Renewables Infrastructure Group

Full Year Results

RHI Magnesita NV

Full Year Results

St James's Place

Full Year Results

Taylor Wimpey*

Full Year Results

29-Feb

Anheuser-Busch Inbev*

Full Year Results

CVS Group*

Half Year Results

Drax Group

Full Year Results

Haleon*

Full Year Results

Hammerson

Full Year Results

Howden Joinery

Full Year Results

Hunting

Full Year Results

International Consolidated Airlines Group*

Full Year Results

London Stock Exchange Group

Full Year Results

Man Group

Full Year Results

Mobico

Full Year Results

Ocado*

Full Year Results

PPHE Hotel Group

Full Year Results

Schroders

Full Year Results

Serco Group

Full Year Results

Shaftesbury Capital

Full Year Results

Spectris

Full Year Results

Spire Healthcare

Preliminary Full Year Results

Vesuvius

Full Year Results

Weir Group

Full Year Results

1-Mar

IMI

Full Year Results

Pearson*

Full Year Results

Rightmove

Full Year Results

Tritax Big Box REIT*

Full Year Results

*Events on which we will be updating investors.

Volumes in focus for Reckitt Benckiser

Reckitt reports full-year results next week and if there’s one thing it needs to deliver, it’s improving volumes. Third-quarter results disappointed and the concern remains that consumers have yet to fully digest higher prices. Management was quick to give positive commentary on volumes, which are expected to improve over the fourth quarter. But there was no specific guidance given on when their growth might turn positive again.

There’s scope for margin expansion if volumes can start to move in the right direction over 2024, so guidance and commentary here will be watched closely. Given the valuation drop over the past couple of years, it won’t take much to give sentiment a boost. Of course, there are no guarantees.

Prices delayed by at least 15 minutes

Will Haleon catch a cold?

After two guidance upgrades in 2023, Haleon’s full-year results are expected to show organic revenue growth of between 7-8% with faster growth of 9-11% for underlying operating profit. 2023 saw high levels of cold and flu which will have directly boosted sales of products such as Theraflu and Otrivin, and will have done no harm to the Group’s vitamin supplements and painkillers. We’ll be looking to see if this has persisted into 2024, as all eyes turn to the outlook for this period and beyond.

Based on forward earnings, the shares trade in line with the peer group, but they offer a lower yield. Given the relatively high debt levels, the gap is unlikely to close any time soon. With this in mind, there’s certainly some pressure to deliver an acceleration in growth. Despite Haleon’s impressive portfolio of brands, this may still be challenging in the current economic environment.

Prices delayed by at least 15 minutes

Taylor Wimpey set to give a glimpse into the health of the UK housing market

Next week we’ll get a glimpse into the health of the UK housing market, with Taylor Wimpey reporting full-year results. Last we heard, the order book had slipped 8.7% lower to £1.8bn. And despite 2023’s operating profit expected to come in at the top end of the group’s £440-470mn guidance, it still marks a rough halving from the prior year. But a robust landbank and a healthy net cash position of £678mn at year-end should help provide a cushion to any potential bumps in the road.

Looking to 2024, we’re keen to hear where Taylor Wimpey casts its official guidance, with markets currently forecasting revenue and profits to fall at low single-digit rates. Against an improving backdrop of falling mortgage rates and lower build-cost inflation, which should improve affordability for buyers, we wonder if there’s room for a few positive surprises in next week’s update.

Prices delayed by at least 15 minutes

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. 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.

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.

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Written by
Matt-Britzman
Matt Britzman
Equity Analyst

Matt is an Equity Analyst on the share research team, providing up-to-date research and analysis on individual companies and wider sectors.

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Article history
Published: 23rd February 2024