T.Clarke, the building services group, said in mid-November it was on track to meet market expectations for the full year and in Panmure Gordon's opinion it had better deliver, or face the wrath of the market.
"After some disappointing updates, the company needs to start delivering again. While market conditions remain tough, the last IMS [interim management statement] was in line, so it is a start to the process," the broker notes. "However, against a backdrop of challenging market conditions, this remains a tough task," the broker added.
The broker reckons the key issues in Friday's full-year trading update will be: revenue visibility (regions versus the south); pricing and margin pressures; strategy implementation; and financial, with cash levels being important for a dividend yield stock such as this.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Regarding the latter, net cash at the half-year stage was £3.4m; Panmure Gordon expects the usual seasonal working capital inflow in the second half, so its full-year net cash forecast is £4.6m.
Precision instrumentation and controls company Spectris is set to deliver revenue growth in the double-digits in its trading announcement, if Numis Securities' Scott Cagehin is to be believed. Enjoy it while it lasts, though, Cahegin warns; the company will start running up against some tough year-on-year comparative figures.
INTERIM DIVIDEND PAYMENT DATE
Alliance Pharma, Babcock International Group, Caffyns, Cropper (James), Electrocomponents, Kewill, Marks & Spencer Group, Northern 3 VCT, Severn Trent, Shanks Group, Telford Homes, UK Mail Group
QUARTERLY PAYMENT DATE
Yamana Gold Inc.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
Import and Export Price Indexes (US) (13:30)
U. of Michigan Confidence (Prelim) (US) (15:00)
GMS
Beowulf Mining
AGMS
Bellway
TRADING ANNOUNCEMENTS
Spectris, Ted Baker
FINAL DIVIDEND PAYMENT DATE
Associated British Foods, Debenhams, Renewable Energy Generation Ltd.
jh
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
