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Wednesday Preview: Barratt, Land Securities, Johnston Press

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Date: Tuesday 13 May 2008

LONDON (ShareCast) - Barratt Developments’ interim management statement comes soon after the Royal Institute of Chartered Surveyors (RICS) reported a sharp rise in the number of surveyors reporting house price falls in April.

Current conditions may be hard for even the normally ebullient Barratt to dodge and broker UBS expects more gloom for the housing market. The housebuilder is tipped to to report a deteriorating order book.

Land Securities’ final results are tipped by UBS to show a 13% fall in net asset value to 1,960p a share and a worsening outlook for the property group.

Johnston Press, publisher of The Scotsman and The Yorkshire Post, as well as several more localised titles, is also heavily affected by falling house price as it depends on property advertising for much of its revenue. Late last month, Goldman Sachs cited the impact of cuts in advertising budgets as it lowered its target price to by 69p to 223p. What Johnston says about advertising is the thing to watch for.

J Sainsbury's final results could give more evidence on the state of the economy. UBS predicts a 26% increase in pre-tax profits to £480m, but even more telling will be the supermarket's comments on trading so far this year and the outlook for the remainder.

Compass should show an improved performance if brokers’ predictions prove accurate. Evolution Securities is tipping a 25% rise in pre-tax profits to £280m for the caterer

DSG, the Currys and PC World retailer, will be in focus. The Sunday Times reported the retailer will slash its dividend and announce plans to close dozens of stores in the first phase of new chief executive John Browett’s plan to turn round the company.

INTERIMS
Compass Group, Dimension Data, Fountains, Gateway Telecommunications, Interserve

INTERIM EX-DIVIDEND DATE
Aberdeen Asset Management, Anglo Irish Bank Corp, Numis Corporation, Sage Group, Smart (J) & Co., United Drug

QUARTERLY PAYMENT DATE
Merchants Trust

QUARTERLY EX-DIVIDEND DATE
BP, Royal Dutch Shell 'A'

FINALS
Datatec (DI), FirstGroup, Land Securities Group, Leisure and Gaming, J Sainsbury, Titanium Resources, Vertu Motors

EGMS
Iimia Investment Trust

AGMS
Amec, Athelney Trust, Bunzl, First Derivatives, Glanbia, Graphite Enterprise Trust, Henry Boot, Imagesound, International Personal Finance, Interserve, Invesco Perpetual UK Sm Cos, Landore Resources, Legal & General Group, LogicaCMG, Matica, Mediwatch, Nichols, Northbridge Industrial Services, Oxford Catalysts, Rentokil Initial, STM Group, TT Electronics, Unilever, Venture Production

TRADING STATEMENTS
Amlin, Barratt Developments, Chime Communications, DSG International, Interserve, Johnston Press, LogicaCMG

UK ECONOMIC ANNOUNCEMENTS
BoE Inflation Report (09:30)

FINAL DIVIDEND PAYMENT DATE
Dairy Farm International (Singapore), Devro, GKN, Hongkong Land Holdings, Impax Environmental Markets, Jardine Matheson (Singapore), Jardine Strategic (Singapore), Management Consulting Group, Rathbone Brothers, Savills, SR Europe Investment Trust, St James's Place

FINAL EX-DIVIDEND DATE
Ambrian Capital, Computacenter, Hiscox, Independent Media Distribution, K3 Business Technology Group, Lamprell, M. P. Evans Group, Mallett, Matrix Income & Growth 4 VCT, Oakdene Homes, Provident Financial, Public Service Properties Investments, Robert Walters, Severfield-Rowen, Ted Baker, TT Electronics, Win, Work Group, Xaar

QUARTERLY RESULTS
ReneSola

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