One of the current darlings of the stock market, Golden Vale reports full-year results on Wednesday and these should do nothing to upset its phenomenal new year bull run. Recovery in its cheese division aided by better performances in its Danish and Northern Irish operations are expected to see pre-tax profits climb to around £14 million from £6.3 million last time out, with earnings per share of 7.2p. A new management structure and an acceptance that it may have to look outside for much of its growth, particularly by diversifying into a more broadly-based food company, bode well for a future clear of the profits rollercoaster of recent years.
Reuters: Reuters will be one to watch tomorrow, when it issues its full year pre-tax profits.
Shareholders will be more interested in answers about the rollercoaster ride they have suffered on the stock market this week.
Allegations that the company improperly gained access to information from arch rival Bloomberg took the shares down steeply.
Broker Wise Speke predicted pre-tax profits of £690 million sterling, compared with £701 million last time. Like all global companies, the strength of the pound and the Asian crisis are expected to dent profits.
MONDAY
Results: British Airways (Q3), ICC Bank, Northamber (H1), Olim Convertible Trust, PizzaExpress (H1).
A.G.M.: Dunedin Smaller, Derwent Valley (e.g.m.), Eurotherm, Minerva (e.g.m.).
Indicators: British producer price index (Jan).
Others: ACE Insurance Company Europe to announce establishment of non-life operation in Dublin (Westbury Hotel, Dublin).
TUESDAY
Results: BOC Group (Q1), British Petroleum, Future Integrated Telep (H1), Inn Business Group, Henderson Tr Pacific, Povair, Reuters Holdings, Stanford Rook Holdings, Time Warner (Q4), Unilever.
A.G.M.: Allied Domecq, Foreign & Colonial PEP, Windsor.
Meetings: Mr Martin O'Rourke, managing director of BUPA, addresses the monthly meeting of the Leinster Society of Chartered Accountants (Herbert Park Hotel, Dublin); Airports conference on duty free post-European Union (Burlington Hotel, Dublin).
Indicators: British retail price index (Jan) and British Retail Consortium retail survey; US productivity data (Q4) and LRJ Redbook; German consumer price index (Jan); French consumer confidence (Jan) and consumer price index (Jan).
Others: IBEC report on the "telecommunications priorities" and creation of IBEC telecoms user group.
WEDNESDAY
Results: Britannia Smaller, Dalgety (H1), Golden Vale, Internet Technology, Medeva, Polygram, Scot American Inv Co, Viglen Technology (H1).
A.G.M.: Archimedes Inv Trust, Carlton Comms, Daily Mail Gen & Trust, Heals, United Drug.
Indicators: Irish consumer price index (Jan), producer price index (Jan) and repo rate; British unemployment (Jan), underlying average earnings (Dec), Bank of England inflation report (Feb) and minutes of Bank of England monetary policy committee.
Others: Broker Patrick Foote back in court in Limerick; Japanese markets closed.
THURSDAY
Results: Armitage Brothers (H1), Baring Tribune Investment Trust, BT (Q3), Colt Telecom, Den Norske Bank, KNP BT, Memory Corporation, Nokia, Philips, Ryanair (Q3?), Shell, Willis Corroon Group.
A.G.M.: British Thornton (e.g.m.), Burndene Investments, Countryside Properties, Eurocamp, Finsbury Intnl Hedge, Greencore, Rutland Trust (e.g.m.), Schroder Asia Pacific, Warner Estate Holdings.
Meetings: IAPF meeting on EMU and pension funds (University Industry Centre, Belfield); Dublin city manager, John Fitzgerald addresses Strategic Planning Society on "Management of Change in City Government" (Dublin Civic Offices); EU research ministers (Brussels).
Indicators: US retail sales (Jan), weekly jobless claims and Atlanta Federal Survey.
Others: Telecoms regulator, Ms Etain Doyle attends Dail Committee; Minister for Finance, Mr McCreevy publishes 1998 Finance Bill; British High Court hearing in Lloyd's case seeking recovery of debt from rebel Names.
FRIDAY
Results: Lloyds TSB Group.
A.G.M.: Digital Animations (e.g.m.), Hurlingham Properties.
Indicators: US business inventories (Dec) and University of Michigan Consumer Sentiment Survey; Bank of Japan council meeting.
