(MENAFN- ProactiveInvestors - UK) The City will get another chance to gauge the health of the housing and construction market on Tuesday when Wolseley plc (LON:WOS) reports final results.
The builder's merchant is expected to reveal a currency boost and investors will examine the performance of its US business.
In the weeks following the third quarter, like-for-like sales fell back from 5% to 2-3%, mostly reflecting price deflation.
That reflects the ongoing impact of low oil prices on non-building activities, although Numis Securities reckons the construction outlook remains good.
The broker's Howard Seymour said: 'This aside we expect a mixed bag – UK is likely to be weak (Q3 LFL -0.3%) in keeping with comments from others, and Nordic should see some improvement after a difficult Q3 (LFL -2.6%).
'We regard Wolseley as a high-quality company, but see the share price as in the right area following the share price bounce, which we believe now reflects its strong overseas positioning after the 'Brexit' decision, a feature which investors are clearly focused on.'
Elsewhere, online fashion group Boohoo.com PLC (LON:BOO) will unveil half-year results, having said last month that it did well in the first five months of the year and had made an encouraging start to August.
Investors are likely to look for confirmation of Boohoo's prediction that given the good performance, annual results would be above expectations with increased sales growth of between 28% and 33%, against previous guidance of 25%-30%.
Peel Hunt analysts are forecasting a 94% rise in first-half pre-tax profit to £12.1mln.
They said in a note: 'We expect management to accelerate growth revenue investment in the second half given the stronger first-half performance, whether marketing or into the wider customer proposition.
'Our forecasts are set above guidance levels and sit about 10% ahead of consensus.
"We look for full-year sales growth of 35%, EBITDA margins of 10% and pre-tax profit of £24.5mln.
'We are unlikely to be upgrading again on Tuesday, but see market forecasts moving towards our level.'
Other companies set to report include:
Finals: Close Brothers Group;
Interims: AG Barr; Card Factory, Circassia Pharmaceuticals, PTSG, S & U;
Trading statement: Thomas Cook, United Utilities Group;
Capital Markets Day: UDG Healthcare.
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