News flow from coloured gems specialist has been good explaining the 50% increase in the share price year-to-date.
Last week the company added sapphires from Sri Lanka to its coloured gemstones while auction results this year have been good including the company’s first ruby auction.
Monday sees the company issue full-year results and with the market cap now up to around £265mln the company has a decent following in the broking community. Those brokers anticipate revenues of around US$144.2mln and a profit before tax of US$27.3mln.
One thing that was not mentioned in the Scottish referendum coverage was the little known fact that there is only one country in the world where Coca-Cola (assuming it is sold at all) is not the best selling brand of fizzy pop; that country is Scotland where the carbonated drink of choice is Irn-Bru made by .
The drink is apparently widely used as a pick-me-up for hangover sufferers so the company may well have been hoping that the unionists celebrated the “no" vote in style while the separatists drowned their sorrows in the time honoured fashion.
Wisely the company has broadened its portfolio considerably to include among others the energy drink Rockstar which is proving a bit of a star performer.
Tuesday’s interims should see the company announce sales growth of around 5.6% at £135mln well ahead of the market. Broker N+1 Singer expects growth in underlying earnings (EBIT) to be ahead of sales growth at 8% which would put EBIT at around £18.2mln.Significant announcements expected
Monday
Companies: Interims: () Moss Bros () Netdimension () China Chaintek (LON:CTEK) () Finals: () () (). Trading Statement: ().
Macroeconomic: EU: ECB president Mario Draghi speech. US: Existing home sales.
Tuesday
Companies: Interims: AA () CentralNIC () () Nahl Group () Netscientific () Barr (A G) () () () Cupid () () GLI Finance (LON:GLIF). Finals: Close Brothers () Regenersis ().
Macroeconomic: EU: PMI Manufacturing Composite. US: Redbook. PMI Manufacturing. Housing price index.
Wednesday
Companies: Interims: () Bango () Clean Energy () () Outsourcery () Instem () Personal Group (). Finals: Origin Enterprises (LON:OGN) Solutions () Clinigen Group (). Trading update: United Utilities ()
The following widely-held companies will be trading in ex-dividend form: Redrow Drax Crest Nicholson .
Macroeconomic: US: New home sales. MBA mortgage applications.
Thursday
Companies: Interims: Mission Marketing () Synairgen () Holdings () Incadea () () Epwin Group (LON:EPWN) Havelock Europa () Learning Technologies (LON:LTG).
Macroeconomic: UK: CBI distributive trades. Nationwide house prices. US: Durable goods. Jobless claims. Markit Services PMI. Markit PMI Composite.
Friday
Companies: Interims: Public Service Properties (). Finals: Produce Investments (LON:PIL) () ().
Macroeconomic: UK: Consumer credit. US: GDP. Consumer Sentiment. Reuters/Michigan consumer sentiment
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