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Tuesday's agenda: Paddy Power faces hit from poor sporting results

Paddy Power looks set to update on the Betfair merger, as well as current trading

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Numis Securities said results have been poor for the bookie this year

Bookmaker Paddy Power will be reporting on Tuesday, with particular interest on whether the acquisition of rival Betfair can contribute as much as previously hoped.

In its interims, the bookie said it was aiming for operating profit to be a mid-to-high single digit percentage above market expectations.

But the process of the acquisition is still on-going, and “might not be repeated” according to broker Numis Securities.

This will be of particular note, as it is based on tough comparables last year, when football's World Cup and favourable results boosted the firm.

Chelsea FC aside, there have been some poor periods of sporting results this autumn, and Numis suggests growth will be more muted this year than last.

Elsewhere, Easyjet will be looking to hit its own profit target of £675mln-£700mln for the year.

Recently the company has been heavily involved in repatriating tourists from Sharm el Sheikh in Egypt, while Friday’s terror attacks in Paris also hit the firm's shares.

“The market will therefore be looking for an update on that issue and how it has affected the overall performance in what is now the company’s first quarter of the new financial year,” Graham Spooner at The Share Centre said.

With the low oil price helping fuel costs, it will also be interesting to hear if ticket prices have been lowered, as well as any comments on expected future dividend hikes.

 

Significant announcements expected:

Final: YouGov (LON:YOU), Easyjet (LON:EZJ), Enterprise Inns (LON:ETI)

Interim: Halma (LON:HLMA), Homeserve (LON:HSV), Intermediate Capital Group (LON:ICP), Big Yellow Group (LON:BYG), Entertainment One Group (LON:ETO), McKay Securities  (LON:MCKS), Nord Gold (LON:NORD), Blinkx (LON:BLNX), British Land Co (LON:BLND)

Trading statement: Paddy Power (LON:PAP), Spirax-Sarco Engineering (LON:SPX), Devro (LON:DVO), Coats Group (LON:COA)

Economic: UK – PPI, retail price index, CPI; EU – new car registrations, ZEW survey; US – CPI, industrial production

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