BREWING, aerospace, banking and confectionery are only some of the sectors represented by a long list of blue-chip companies reporting next week.

On Wednesday, Scottish & Newcastle is expected to announce a 23 per cent fall in earnings per share and a 21 per cent drop in full year pre-tax profits to £370m.

Despite strong competition affecting its Eastern European business, analysts said the brewer of Kronenbourg 1664 had been doing a lot to lay the foundations for medium-term growth.

The group has reinvested significant cost savings in the UK into increasing marketing of its brands and UK operation Scottish Courage is likely to be able to deliver further operating efficiency gains.

S&N is expected to say continental Europe has been a problem because of the difficult retail environment, but Kronenbourg has been making market share gains in France, which should improve operating margins, while Portugal should have benefited from last year's European football championships.

Aerospace and defence group BAE Systems is expected to announce an 11 per cent rise in full year pre-tax profits to £844m on Thursday.

The UK's largest defence contractor is expected to report an improved year following a restructuring programme that should allow it to leave the avionics sector to focus on increased acquisitions, which accounts for about 35 per cent of its turnover. Further sales of parts of its business are expected, which should reduce debt and increase cash flow.

The UK operation, representing about a quarter of its turnover, has experienced a mixed year and the company is expected to cause some concern by revealing that its pension deficit is about £3bn. The group is expected to announce a large cut in net debt.

Investors dismayed by Centrica's disappointing trading statement in December will be casting a critical eye over this year's outlook when it reports final year results on Thursday.

The group, which is expected to report pre-tax profits of £1.2bn against just over £1bn a year ago, is expected to announce that 2004 was another year of strong growth.

But investors will be looking for an update on customer turnover and its impact on margins at British Gas Residential (BGR). The group decided to abandon the deadline for its eight per cent margin target at BGR, although it continues to maintain that the figure is achievable in the longer term. Elsewhere, it is expected to report a generous dividend increase, further profitability from BGR and progress from Centrica Storage, Centrica North America and One.Tel.

Market watchers are expecting Royal Bank of Scotland (RBS) to become the latest UK bank to report huge profits on Thursday. RBS is expected to report annual pre-tax profits in line with expectations of £7.9bn, up from £7.2bn last time.

The annual results are expected to include strong income growth across a broad mix of businesses, with improved efficiency and continued improvements in bad debt provisions.

Analysts say RBS has maintained strong organic income growth in the second half of the year, supported by continued good growth in loans and deposits, stable margins and healthy growth in non-interest income.

Cadbury Schweppes is expected to confirm that the group enjoyed a good second half performance, which is important, since 60 per cent of revenues are generated in the second half of the year.

Earnings are likely to be seven per cent lower due to the weak US dollar, while pre-tax profits should come in 0.9 per cent higher at £930m