BRIEFING: Centrica profits down thanks to warm autumn
INVESTORS will get a broad snapshot of the economy this week, with updates from companies in a variety of sectors.
British Gas owner Centrica delivers its latest trading update on Thursday as a very warm start to the autumn and a competition probe weigh on prospects for investors.
The interim management statement will be the last under outgoing boss Sam Laidlaw, who will be replaced by BP executive Iain Conn in January.
Conn will have to deal with continuing political pressure over bills as next year's general election approaches, while a fullscale competition probe is also under way.
In May this year, Centrica said profits would be lower than expected, partly due to the warm winter and the loss of 180,000 residential accounts in the year to date.
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Letter volumes are expected to fall steadily as people send texts and emails instead
ANNUAL results from budget airline EASYJET tomorrow should show more strong growth, despite testing economic conditions in many of its markets.
The Luton-based carrier upgraded its profits guidance recently for the 12 months to September 30 to between £575million and £580million.
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ROYAL Mail is expected to report lower half-year results on Wednesday as its delivery operations come under pressure at home and in Europe.
Operating profits before transformation costs are forecast to be down 8.1 per cent to £260million due to tough competition in its profitable parcel business in Britain and its European delivery unit, GLS.
Led by Moya Greene, the group said in a July trading update that UK parcel revenues for the three months to June 29 fell by 1 per cent.
Volumes are up 1 per cent, however, as it battles rivals such as Dutch-owned TNT and DHL from the US.
Letter volumes are expected to fall steadily as people send texts and emails instead.
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HOUSEHOLD emergency repairs insurer Homeserve is expected to report half-year pre-tax profits of £27million tomorrow.
Investors are keen to see if customer numbers have passed the 2 million mark.
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MOTHERCARE updates on Thursday, when observers will hope to see further signs of stabilisation in the UK.
Chief executive Mark Newton-Jones will also come under the spotlight as he gives more details on the retailer's bold move away from aggressive discounting.
Attention will also focus on increasingly important online sales.
