FTSE 100 and FTSE 250 shares what to expect on the stock market next week

What to expect from a selection of FTSE 100, FTSE 250 and select other companies reporting next week:

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FTSE 100, FTSE 250 and selected other stocks to be reported next week:

*Events we will keep investors informed about.

Associated British Foods Aarin Chiekrie, equity analyst

In a trade statement issued at the end of February, Associated British Foods announced it expects half-year sales to be more than 16% higher than last year, excluding currency effects. This is thanks to consumer spending, which has so far proved more resilient than initially forecast.

The food companies, which include well-known brands such as Kingsmill, Ryvita and Ovaltine, are expected to post sales and underlying earnings well ahead of the same period last year, but at a lower margin. Inflated input costs have been ahead of pricing and cost-cutting activities, and we’re curious to see how much this squeezed margins.

Next week’s results should also give us an updated view of ABF’s expectations for the second half. Although inflation is nearing its peak and some commodity prices have fallen, there are still plenty of headwinds to fight. The cost-of-living crisis remains a dark cloud over consumers’ heads, and ABF has already said it is cautious about any potential effects on discretionary spending that could affect Primark’s fortunes.

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Unilever Matt Britzman, equity analyst

Investors await Unilever’s forthcoming trading statement detailing its first-quarter sales performance, eager to see how the company’s strategy to protect its strong brand products amid sequential price increases has played out.

While Unilever’s full-year results beat market expectations, the company has struggled to maintain volumes amid price increases and a cost-of-living crisis. We expect more increases in the first half as the group targets underlying sales growth to top 3-5% over the year.

For now, Unilever’s brand strength has at least helped offset some of the volume declines. That makes protecting the quality of their brands a top priority. To that end, brand and marketing spending is crucial, and we’ve seen investments increase by $0.5 billion over the past year. It’s a non-negotiable expense for a branded machine like Unilever, and markets will be watching the volume picture closely.

We will also look forward to comment on how the 600 million cost savings program is going. It is expected to be weighted towards the second half, but early progress would be well received.

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Whitbread, Derren Nathan, Head of Equity Research

Whitbread delivered strong momentum to its hotel business in the closing stages of the financial year. For the first five weeks of the quarter, UK accommodation sales were 35% higher than the previous year and 36% higher than before the pandemic. Whitbread expected prices to remain strong. There are some signs that the market has remained resilient, although no guarantees can be given. We’ll see if bookings continue to be strong in the current year. Food and beverage sales also rose by low double digits, but not quite back to 2020 levels.

For the full year, consensus forecasts expect group sales growth of around 50%, although this is flattered by the Covid restrictions in place at the start of the comparative period. The forecasts also expect full-year dividends to rise 66.3% to 57.7 pence, implying a final payout of 33.3 pence. This cannot be guaranteed and any final dividend will depend on management’s confidence in the outlook.

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Unless otherwise stated, estimates are a consensus of Refinitiv analyst forecasts. These estimates are not a reliable indicator of future performance. Past results are not a guide to the future. Investments rise and fall in value, which can cause investors to lose.

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