Week Ahead: Recruitment firms, Dunelm

6th Apr 2012 13:09

In another week shortened by the Easter break, recruitment firms will be in the spotlight with both Michael Page and Hays giving updates.On the consumer front, cash-strapped pubs group Punch Taverns is set to release interim results on Thursday while Mothercare, the toddlers-and-baby goods seller, issues a trading statement on the same day.The day before (Wednesday), Dunelm is scheduled to issue a third quarter interim management statement according to Panmure Gordon, which is forecasting a 2.5% increase in like-for-like sales, as the bedding, curtains and cushions seller starts running up against soft comparative figures from a year earlier."We have written before about competitor weakness in the space from which Dunelm can benefit. The other side of this coin is that Next, despite double digit like for like sales declines in its standalone Home Stores in FY2012 [fiscal 2012], is investing the lion's share of its FY2013E and FY2014E capex [capital expenditure] in these stores, sharing our view that growth is imminent in the sub-sector following a down period of at least 18 months," Panmure Gordon said."As a reminder, like for like sales grew by 3.8% in Q2 [second quarter of] 2012, vs. a 4.2% snow affected decline in the prior year. When most other retailerswere reporting pressure at gross margin level over the Christmas trading period, Dunelm grew its gross margin by 10bp [basis points; 100 bp = one percentage point] in Q2 2012. Dunelm's year end is June," the broker added. Monday April 09TRADING ANNOUNCEMENTSVolexTuesday April 10INTERIM DIVIDEND PAYMENT DATEAlumasc Group, Carclo, Colefax Group, Dechra Pharmaceuticals, Diageo, Hays, Oxford Instruments, Park Group, Quayle Munro Holdings, Renishaw, RicardoQUARTERLY PAYMENT DATEAfrica Opportunity Fund Ltd., Small Companies Dividend TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (GER) (07:00)Current Account (GER) (07:00)Factory Orders (GER) (11:00)Retail Price Index (GER) (07:00)Wholesales Inventories (US) (15:00)GMSBank Audi SAL (Audi Saradar Group) GDR (Reg S)SPECIAL DIVIDEND PAYMENT DATEIndependent Inv TrustEGMSBank Audi SAL (Audi Saradar Group) GDR (Reg S), OJSC OC Rosneft GDRS (Reg S)AGMSZhejiang Southeast Electric Power Co Ltd. GDR (Reg S)UK ECONOMIC ANNOUNCEMENTSRICS Housing Market Survey (09:30)FINAL DIVIDEND PAYMENT DATEBrewin Dolphin Holdings, Domino Printing Sciences, Electronic Data Processing, Independent Inv Trust, TUI TravelWednesday April 11INTERIMSMatchtech GroupINTERIM DIVIDEND PAYMENT DATEGalliford Try, Hargreaves Lansdown, Haynes Publishing GroupINTERIM EX-DIVIDEND DATEManchester & London Inv Trust, Northamber, Thorpe (F.W.)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US) (19:00)Crude Oil Inventories (US) (15:30)Import and Export Price Indexes (US) (13:30)MBA Mortgage Applications (US) (12:00)Treasury Budget Statement (US) (19:00)IMSSMichael Page InternationalEGMSAltona Energy, INA-Industrija Nafte D.D. GDR (Reg S), VietNam Holding Ltd.AGMSAFC Energy, Baronsmead VCT 3, Low Carbon Accelerator Ltd., PorvairUK ECONOMIC ANNOUNCEMENTSBRC Sales Monitor (00:00)FINAL DIVIDEND PAYMENT DATECQS Rig Finance Fund Ltd., Manroy, Safestore HoldingsFINAL EX-DIVIDEND DATE32Red, Berendsen, BG Group, Cenkos Securities, Charles Taylor Consulting, Chesnara, Communisis, Edinburgh UK Tracker Trust, EMIS Group, Filtrona PLC, Fisher (James) & Sons, Foreign and Colonial Inv Trust, Foresight 2 VCT, Foresight 2 VCT 'C' Shares, Fyffes, Goals Soccer Centres, IDOX, IMI, Kerry Group 'A' Shares, Logica, Merchants Trust, Mondi, Novae Group, Psion, Rotork, RPS Group, Smurfit Kappa Group, Ultra Electronics Holdings, Wood Group (John), WSP GroupQ1X5 Retail Group NV GDR (Reg S)Thursday April 12INTERIMSPunch TavernsINTERIM DIVIDEND PAYMENT DATECasdon plc, London Finance & Investment Group, Wilmington GroupQUARTERLY PAYMENT DATEGlaxoSmithKlineINTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Trade (US) (13:30)Bloomberg Consumer Confidence (US) (14:45)Continuing Claims (US) (13:30)ECB Report (EU) (09:00)Industrial Production (EU) (10:00)Initial Jobless Claims (US) (13:30)Producer Price Index (US) (13:30)FINALSElektron Technology, Escher Group Holdings, JD Sports Fashion, Networkers InternationalANNUAL REPORTFidelity European Values, Mam FundsIMSSGalliford Try, Hays, XP Power Ltd. (DI)SPECIAL DIVIDEND PAYMENT DATEGlaxoSmithKlineAGMSBaronsmead VCT 5, BP, Primary Health Properties, Smith & NephewTRADING ANNOUNCEMENTSMothercareUK ECONOMIC ANNOUNCEMENTSUK Trade (09:30)FINAL DIVIDEND PAYMENT DATERio TintoFINAL EX-DIVIDEND DATESagicor Financial Corp.Friday April 13INTERIM DIVIDEND PAYMENT DATECentaur Media, Dunelm Group, Go-Ahead Group, TristelQUARTERLY PAYMENT DATESchlumberger Ltd., Yamana Gold Inc.INTERNATIONAL ECONOMIC ANNOUNCEMENTSConsumer Price Index (GER) (07:00)Consumer Price Index (US) (13:30)U. of Michigan Confidence (Prelim) (US) (15:00)GMSLochard Energy GroupFINALSNorconANNUAL REPORTDignityUK ECONOMIC ANNOUNCEMENTSProducer Price Index  (00:00)FINAL DIVIDEND PAYMENT DATEChemring Group, Octopus Titan VCT 1, Octopus Titan VCT 2, RMFINAL EX-DIVIDEND DATEFirst Quantum Minerals Ltd.