ASDA reports half-year results on Thursday amid signs of a barbecue bounce from the heatwave. Figures from market analysts Nielsen suggested Britain’s major grocers lifted sales by 6.4 per cent on last year thanks to demand for soft drinks, beers and cider.
The British Retail Consortium has said last month saw the best performance for food and drink sales since November 2009.
l Prudential is the latest to report from the sector today after a mixed set of results so far from the major players.
Stronger financial markets and the launch of the Government’s scheme to autoenrol workers into pension plans has provided a boost to the likes of Legal and General and Standard Life. But general insurers such as Direct Line Group have also been hit by a price war as competition ramps up in the UK car insurance market.
Cineworld looks set to unveil a bumper profits haul amid increasing ticket prices and higher audience numbers when it reports first half results on Thursday. The group’s total takings have also been boosted by its acquisition of Picturehouse, the arthouse cinema group – although this faces a Competition Commission probe.
Grosvenor Casinos owner Rank is expected to reveal a dip in annual profits when it publishes results on Thursday.
The success of high-roller customers in London, as well as the impact of freezing weather on gambler numbers, dragged like-for-like revenues down by five per cent in the 18 weeks to May 5. Spend per visit at the chain, which operates 54 casinos in Britain and two in Belgium, was down by one per cent for the period
Car dealership Lookers is expected to deliver another set of strong results when it publishes half-year figures on Wednesday, nearly a year after billionaire investor George Soros bought a chunk of the company. Another buoyant performance from the Manchester-based firm will justify the faith placed in the business by Mr Soros, who bought a 4.5 per cent stake in the business last September.
The 82-year-old, famous for his £10bn bet against the exchange rate mechanism in 1992, acquired the shares in Lookers via Soros Fund Management.
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