The Week Ahead: Bovis, BHP and Cairn

Published in Investing on 20 August 2010

Next week sees interims from Bovis and Persimmon, and oil explorers Cairn, Tullow and Premier Oil.

Of several sets of full-year results expected next week, on Wednesday we'll get those from mobile banking network operator Monitise (LSE: MONI), though it will be while yet before the company is expected to turn a profit.

Drinks giant Diageo (LSE: DGE) will release its full-year results on Thursday, and is expected to plod along with a very modest improvement in profits. If earnings come in at around the expected 70p per share, we'll be looking at a P/E of about 15 and a dividend yield of around 3.5%, which isn't exactly cheap.


Interim reports from a couple of builders will grab some attention, starting with Bovis Homes (LSE: BVS) on Monday, and followed by Persimmon (LSE: PSN) on Tuesday. There should be no surprises, as both companies gave us trading statements last month, Persimmon on July 6 and Bovis on July 9, and we'll be expecting "steady as she goes" progress towards hopefully sustainable recovery.

Digging and delving

On Tuesday well be seeing first half results from copper mining giant Antofagasta (LSE: ANTO), and the company's recent second-quarter production report means the numbers are going to look quite attractive. Thanks to growing global demand and rising metal prices, earnings are expected to be boosted by nearly 70% this year, with further growth to come in 2011.

On Wednesday, we'll get preliminary full-year results from BHP Billiton (LSE: BLT). Coming just a week after the company finally announced a hostile $40bn takeover bid for PotashCorp, the results are expected to be good, with earnings per share up around 15%. The shares are on a P/E of about 12.5, but forecasts for next year bring that down to about 8, which could well be a bargain.

Interims from Petropavlovsk (LSE: POG), one of the biggest gold miners in Russia, and Kazakhstan-based miner Kazakhmys (LSE: KAZ) will follow on Thursday.

Oily stuff

Oil firms will be in the news too, with interim figures from oil and gas explorer Cairn Energy (LSE: CNE) on Tuesday, coming on the back of this week's confirmation of the proposed disposal of some of its assets to Vedanta Resources (LSE: VED).

And then on Wednesday, Tullow Oil (LSE: TLW) will report interims. Tullow, whose exploration and production activities are focused in Africa, is expecting profits to start to soar next year as production comes on line.

That will be followed by interims form Premier Oil (LSE: PMO), whose exploration operations extend to the Middle East and South East Asia, on Thursday.

Notable announcements next week:

Monday: Bovis Homes, Monitise, Amlin, Hiscox, Lamprell, Petrofac
Tuesday: Persimmon, Cairn Energy, Antofagasta, Oxford Biomedica, Severfield-Rowen, Spectris, Spirax-Sarco, Vitec Group, WPP Group
Wednesday: BHP Billiton, Admiral Group, Aggreko, Arriva, Axis-Shield, Paddy Power, Serco Group, SIG, UK Coal
Thursday: Diageo, Petropavslovsk, Premier Oil, Amec, Avis Europe, Carillion, Chesnara, CPP Group, Filtrona, G4S, Hikma Pharmaceuticals, Hunting, IMI, Robert Walters, Savills, William Hill
Friday: Computacenter, Dana Petroleum, Frontline, JKX Oil & Gas, Lavendon, Marshalls, Rightmove, Yule Catto

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