Wednesday preview: Petropavlovsk, 888 results in focus

Wednesday’s session is set to be fairly quiet on the corporate front, although results are due from Petropavlovsk and 888 Holdings.

888 Holdings (DI)

26 April 2024 10:55:23

Source: Sharecast

Russian gold miner Petropavlovsk will release its first-half numbers.

Broker Peel Hunt said that after the second-quarter production update, it’s expecting group EBITDA of $116m from the gold operations and reported EBITDA of $172m, including $56m as its share of the IRC EBITDA.

"Ongoing high corporate overhead spend as the new team beds in and invests in new systems and $26m interest expense means that despite strong EBITDA, we expect reported net income of $60m and earnings per share of 1.5 cents," Peel said.

Gambling group 888 Holdings is also slated to report interim results. Peel Hunt said: "When 888 reports its interims, current trading will be compared to a strong 2H20, which will make for less impressive year-over-year growth than reported recently.

"However, with opportunities in new markets, including the US, and continually improving diversity of revenue sources we believe management will still have a good story to tell."

Elsewhere, retailer WHSmith, which has outlets at train stations and airports, is due to release its pre-close trading statement.

On the UK macro front, Nationwide house prices for August are out at 0700 BST, while Markit’s manufacturing PMI for August is due at 0930 BST.

INTERIMS

888 Holdings, Churchill China, Johnson Service Group, Menzies(John), Petropavlovsk, PPHE Hotel Group Ltd, Uniphar (CDI)

INTERIM DIVIDEND PAYMENT DATE

Blackrock Income And Growth Investment Trust, Coventry 12 1/8% Perm Int Bearing Shs #1000, Jupiter Fund Management

QUARTERLY PAYMENT DATE

JpMorgan China Growth & Income

INTERNATIONAL ECONOMIC ANNOUNCEMENTS

Auto Sales (US) (20:30)

Construction Spending (US) (15:00)

Crude Oil Inventories (US) (15:00)

MBA Mortgage Applications (US) (12:00)

Personal Consumption Expenditures (US) (13:30)

Personal Income (US) (13:30)

Personal Spending (US) (13:30)

PMI Manufacturing (GER) (08:55)

PMI Manufacturing (EU) (09:00)

PMI Manufacturing (US) (14:45)

Retail Sales (GER) (07:00)

Unemployment Rate (EU) (10:00)

FINALS

Arcontech Group

SPECIAL EX-DIVIDEND DATE

KKV Secured Loan Fund Limited 'C Shares', KKV Secured Loan Fund Limited NPV

AGMS

Appreciate Group, Eckoh, Jupiter Green Inv Trust, Kinovo , Polar Capital Technology Trust, Prime People, Severfield

UK ECONOMIC ANNOUNCEMENTS

BRC Shop Price Index (00:01)

PMI Manufacturing (09:30)

FINAL DIVIDEND PAYMENT DATE

Braemar Shipping Services

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