Tuesday's agenda: Prudential continues to look east
The company reported a 17% rise in first-half operating profits last year. Its US and Asian businesses were the biggest gainers while the UK division announced a 10% jump in operating profits.
“The company’s CEO Tidjane Thiam still plans to grow the company ‘aggressively’ in Asia even though the region is slowing” said spread betting firm IG Group.
The firm is still seeking opportunities in the Far East and the failed takeover attempt of AIA in 2012 means he has unfinished business in Asia.
The consensus for Prudential’s figures is for revenue of £54.48 billion and adjusted net income of £2.44 billion. These estimates equate to a 4% increase in revenue and a 5.3% rise in adjusted net income.
Equity analysts are bullish on Prudential and out of the 25 recommendations 18 are buys five are holds and only two are sells
Accident-prone security firm G4S also weighs in with its full-year and fourth quarter update.
The company has blotted its copybook in the UK this decade but has been doing well in emerging markets; trouble is the economies of many emerging markets have been slowing down of late.
The group is in the process of sloughing off many parts of the business and trying to establish a better reputation.
“Management are also addressing the financial situation of the company in order to cut debt” notes Sheridan Admans investment research manager at The Share Centre.
Companies such as G4S often like to accompany results with news of a contract win so watch out for that plus any update on the contract pipeline.
Significant announcements expected
Finals: Prudential (LON:PRU) StatPro Group (LON:SOG) Cairn Energy (LON:CNE) esure Group (LON:ESUR) Inchcape (LON:INCH) G4S (LON:GFS) Hill & Smith Holdings (LON:HILS) Menzies (LON:MNZS)
Interims: Close Brothers Group (LON:CBG) Craneware (LON:CRW)
Economic announcements expected: China CPI US jobs openings Japan machine orders
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