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Here’s our regular look at the FTSE 350 & other companies reporting from 25 to 29 October

  • Reckitt Benckiser faces challenging comparisons from last year, but has finally got rid of its Chinese millstone
  • Facebook reveals how users and advertisers have responded to recent headlines
  • We are expecting a solid set of results from AVEVA
  • Anheuser-Busch Inbev looks to build back its balance sheet as bars reopen.

Reckitt Benckiser, Q3 Trading Update, Tuesday 26 October

Nicholas Hyett, Equity Analyst

“Rising input costs are expected to eat into Reckitt Benckiser [LON:RKT] profit margins in the second half. With volume growth also somewhat lacklustre at the half year, the group has its work cut out. Part of the challenge the group faces is the very strong results reported in 2020 – as coronavirus concerns drove uptake of its health and hygiene products. That will remain the case in the second half, and in all honesty, we would view flat numbers as a positive result in products like Dettol and Lysol. Reckitt also completed the disposal of its Chinese infant nutrition business in September. As a long-term detractor from performance, the completion of that bit of housekeeping should mean management have more time to focus on core business going forwards. That can only be good news.”

AVEVA Group, Q3 Trading Update, Wednesday 27 October

Steve Clayton, Manager of the HL Select Funds

Aveva [LON:AVV] is set to report half year results on Oct 27 and we expect them to be solid enough. But the outlook is harder to predict. Last year Aveva reported 26% growth in its third quarter and that sets a tough comparative for the group to guide against. Underlying it all though, there should be robust demand for the group’s industrial automation software.”

Facebook, Q3 Results, Wednesday 27 October

Nicholas Hyett, Equity Analyst

“The regulatory and reputational heat on Facebook [NASDAQ:FB] has been increasing in the last quarter. Facebook, Instagram and WhatsApp faced a major outage in early October, the group was accused of covering up research suggesting its products are bad for users’ mental health and WhatsApp was fined for incorrect use of customer data. All in all, a pretty horrible set of headlines.

The question next week is whether the bad news has had much impact on users. The group’s no stranger to bad press, and that hasn’t stopped daily user’s rising 79% in just two years. Advertisers too seem to be willing to overlook bad press to access Facebook’s audience, with average revenue per user up 43.5% in just one year. Management will hope this latest round of negative headlines is no different.”

Anheuser-Busch Inbev, Q3 Results, Thursday 28 October

Nicholas Hyett, Equity Analyst

“The re-opening of pubs and bars around the world should be good news for Anheuser-Busch Inbev [EBR:ABI] – brewer of Budweiser, Corona and Leffe (to name just a few). Profits were already showing a dramatic improvement at the half year stage, and that trend could gather pace. That would be something of a relief, because the real story at AB Inbev is the truly eyewatering level of debt the group’s lugging around. Back in June, net debt stood at $83.4bn, or 4.4 times cash profits. While this may have been trimmed slightly, full year free cash flow is forecast to be just $7.7bn suggesting it could take years to get back under control. Given the monumental task ahead, even positive third quarter results will be just a small step on a long road to recovery.”

FTSE 100, FTSE 250 and selected other companies scheduled to report

25-Oct
HSBCQ3 Results
PetropavlovskQ3 Production Report
26-Oct
AlphabetQ3 Results
BunzlQ3 Trading Update
EssentraQ3 Trading Update
HochschildQ3 Production Report
MicrosoftQ1 Results
Polymetal InternationalQ3 Production Report
Reckitt BenckiserQ3 Trading Update
SoftcatFull Year Results
VisaFull Year Results
WhitbreadHalf Year Results
27-Oct
AVEVA GroupQ3 Trading Update
CentaminQ3 Production Report
Coca-ColaQ3 Results
ContourGlobalQ3 Trading Update
FacebookQ3 Results
FresnilloQ3 Production Report
GlaxoSmithKlineQ3 Results
HeinekenQ3 Trading Update
McDonaldsQ3 Results
Network InternationalQ3 Trading Update
SpotifyQ3 Results
28-Oct
AB InBevQ3 Results
Airtel AfricaHalf Year Results
AmazonQ3 Results
AppleFull Year Results
C&C GroupHalf Year Results
ElementisQ3 Trading Update
EVRAZQ3 Trading Update
Helios TowersQ3 Results
InchcapeQ3 Trading Update
IndiviorQ3 Results
LloydsQ3 Interim Management Statement
Royal Dutch Shell*Q3 Results
Travis PerkinsQ3 Trading Update
WPPQ3 Trading Update
29-Oct
ComputacenterQ3 Trading Update
ConvaTec GroupQ3 Trading Update
GlencoreQ3 Production Report
NatwestQ3 Results

This article is brought to you in association with Hargreaves Lansdown. All opinions expressed in this article are from the analysts and do not necessarily represent the opinions of The Armchair Trader.

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Please note this article does not constitute investment advice. Investors are encouraged to do their own research beforehand or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

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