(MENAFN- ProactiveInvestors) Troubled emerging markets lender () sends out its full year numbers tomorrow and the consensus is for revenue of US$18.27bln and adjusted net income of US$4.06bn.
The Asia-focused bank has struggled recently with profits falling bad debts and a share price that has declined almost 30% over the past twelve months.
The firm has already taken measures to restructure itself while the equities division has been all but shut down and there were job cuts in the region of 4000.
The most recent shake up was the announcement that chief executive Peter Sands will step down in June and will be replaced by Bill Winters of JP Morgan.
The bank’s chairman Sir John Peace has also come under pressure to step down and will do so next year.
Ahead of tomorrow’s results spread betting firm said equity analysts are bullish on .
“Out of the 38 recommendations 12 are buys 17 are holds and nine are sells. The average target price is £9.89 which is 2% below the current price” said IG analyst David Madden.
Bakery chain () is also up on Wednesday and full-year pre-tax profit is forecast to jump by 66% from £33mln up to £55mln.
Expectations are high following last month’s comments from management that the full-year figures will smash expectations following a very strong Christmas and New Year.
Over the last twelve months the company has embarked on an upgrade of its menu of goods on sale and migrated away from the reputation of being a bakery outlet.
It's been selling more soups steak pastries and coffee and has also looked at changing the locations of new outlets with a particular focus on travel hub points such as train stations.
"Considering the bold company statement ahead of its full-year figures release we should be expecting big things" added 's Madden.
"The sentiment towards the company now is almost an inverse to last year where the weather conditions were frequently used as an excuse.
Although the share price has more than doubled in the last year the growth of profits could well be set to match this pace."
Wednesday
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