THE UK travel industry saw more consolidation last week when Thomas Cook was snapped up by German giant C&N, but the City is widely expecting First Choice Holidays to continue on its own expansion trail over the coming year.

The destination specialist reports its full-year figures on Tuesday, and analysts are eager to hear what it intends to do with the cash it generated through a convertible bond issue earlier this year, which saw Royal Caribbean Cruise take a 20 per cent stake in the company. Full-year pre-tax profit is expected to be £88m.

Granada Compass reports its final results on Wednesday, and they mark something of a crossroads for the catering and foodservice group.

They are the first since the merger between Granada and the Compass Group this July, but they will also be the last before it is demerged into Granada Media, the recently-floated media group, and Compass Hospitality. This is expected to be completed in two months' time.

Pre-tax profits are forecast to come in at £970m

Property developer the Berkeley Group is expected to highlight the slowdown in the housing market in London and the south-east, as well as the impact the poor weather has had on delays in building projects, when it reports its interims on Tuesday.

Berkeley will paint a positive picture, and it is forecast to turn in pre-tax profits of £75m for the half year against £60.3m last time