Briefing: FirstGroup hopes for progress after two-year drought
UPDATES from FTSE 250 firms geared to domestic demand will give investors a better steer on the health of the economy.
• FIRSTGROUP, which is posting a half-year trading update on Wednesday, will be under pressure to show progress after two years without a dividend.
Costs associated with reviving the UK bus arm as well as First-Student - its yellow school bus service in North America - meant the transport services group did not pay a dividend for the year to March 31.
A year earlier it was prevented from doing so by the botched bidding process surrounding the West Coast rail franchise.
However, its British buses unit, which carries 1.6 million people a day, showed signs of progress in July when passenger numbers rose 2.7 per cent in the first quarter of its new financial year.
The company introduced mobile ticketing and made prices more competitive.
Nomura forecast full-year pretax profits up 35.7 per cent to £152million on higher margins on its UK buses and better sales at its US Greyhound coach service.
Nomura forecast full-year pretax profits up 35.7 per cent to £152million on higher margins on its UK buses and better sales at its US Greyhound coach service
• PITCHER & Piano owner Marston's, led by chief executive Ralph Findlay (below), is set to reveal a slowdown in sales when it delivers an end-of-year trading update on Wednesday.
The company, which also brews Banks's and Ringwood beers, is expected to disclose weaker revenues in comparison with last year's hot summer.
It is also thought likely that its trading figures will have been hit by cautious consumer spending and promotions by rival brewers.
Analysts expect full-year results next month to show pre-tax profits down 3.8 per cent at £85million.
• SIMPLY Be and Jacamo owner N Brown posts half-year results on Thursday in the latest update on its performance during what it has described as a "transitional" year.
The Manchester retailer has slashed marketing investment in its catalogues by 24 per cent, leaving revenues 3.2 per cent lower in the second quarter and 0.6 per cent down across the half year to August 30.
It has moved spending into customer recruitment, particularly online.
This will be re-phased towards the second half of the year in order to adjust to the way customers now shop.
Chief executive Angela Spindler, a former Debenhams director who joined the company last year, said it had pushed on with a "programme of far reaching change". This has included modernising its operations and attempting to ensure it capitalises on long-term opportunities.
N Brown is expected to post fullyear pre-tax profits up 3 per cent to £103million.
