LONDON (ShareCast) - JD Wetherspoon rounds off a busy week for pub operators, following in the footsteps of Punch Taverns and Greene King, both of whom confirmed hard times for the pub trade.

Wetherspoon is one of the most competitively priced operators in the High Street, and has been working hard at driving footfall through promotions, but nevertheless pre-tax profit is expected to slide to £55.2m in the year to end-July from £62m the year before.

Dresdner Kleinwort has forecast a fall of 70 basis points in the EBITDA (Earnings Before Interest, Tax, Depreciation and Amortisation) margin as costs of raw materials continue to rise sharply.

KBC Peel Hunt is concerned about balance sheet issues. “We believe the next periods will test the resolve of investors and we would not be buyers above 200p given our balance sheet concerns,” the broker said.

Entertainment retailer HMV has been enjoying a revival of late, despite increased competition – both legal and illegal – from the internet. Computer games and technology sales have been driving the upsurge in fortunes, and now account for 21% of HMV UK & Ireland’s sales, up from 14% the year before.

Though the company professed to be ahead of schedule in its recovery programme when it announced its full-year results at the beginning of July the good news was soured by concerns over a delay in planned improvements to the distribution system at Waterstone’s.


Friday September 05

INTERIMS
Pacific Alliance China Land Limited, North Midland Construction

INTERIM DIVIDEND PAYMENT DATE
London Capital Group, RAB Capital, St. Modwen Properties, Thomas Cook Group, Witan Investment Trust

QUARTERLY PAYMENT DATE
Mapeley

FINALS
CPL Resources, Go-Ahead Group, JD Wetherspoon, TMN Group

AGMS
M&G High Income & Growth Units, Plant Impact

FINAL DIVIDEND PAYMENT DATE
Cranswick, Prosperity Minerals Holdings, QinetiQ Group, RPC Group, Sovereign Reversions

TRADING STATEMENTS
HMV

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