(MENAFN- ProactiveInvestors) Cruises operator has had its share of highly publicised setbacks but the slump in oil prices has lit a fire under the share price.
According to Deutsche Bank’s number crunchers consensus forecasts for the current year are likely to rise by 5-10% on the back of lower fuel costs.
The company reports its fourth quarter figures and final results for the year just gone on Friday afternoon and Deutsche Bank (DB) has a sneaking feeling that bookings and prices have recovered so well that the numbers will be ahead of market expectations.
“However while we think results will point to an ongoing recovery in both demand and pricing there is a risk that management set a slightly lower bar at this early stage with C/C net yield guidance of 2% to 3% vs consensus of 3% to 4%” DB said.
“Given the recent c.30% fall in fuel costs since the group last update we think will set FY15E EPS guidance above the current US$2.31 consensus. We would expect a range of $2.25 to $2.55 (DB estimate $2.57) as management play the game of beating guidance” it added.
Work-wear and laundry firm Berendsen issues a pre-close statement and shareholders will be hoping the company continues its steady progress.
The shares have scrubbed up well rising 14% this year despite the company facing forex headwinds and experiencing soft conditions in some markets.
Troubled outsourcer Serco had been down to issue a trading update though whether it will still do so having made an announcement on Thursday about a renegotiation of its financial covenants is a question that the company’s investor relations web page cannot resolve.
Perhaps they should outsource maintenance of the web site …
Sheridan Admans investment research manager at The Share Centre has been keeping track of Serco’s profit warnings in the last year and reckons the count is up to four.
“The new CEO needs to restore a measure of confidence in the group which will not be easy. Investors will therefore be looking for more news on his strategy review and long term rescue plan. Other areas to concentrate on will be any comments on its US operations and the company’s overall financial situation” Admans ventured.Significant announcements expected
Finals: ()Trading statements: Berendsen () () Serco ()
Economic announcements: EU Current Account statistics French business survey German Producer Price Index.
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