Friday preview RBS, Rentokil, US jobless – MoneyWeek

TheSwissbankisforecastingfirstquarterrevenuesof£1。

85bnforRBS,down22%year-on-year。

Itisexpectingalossbeforetaxof£340mandalosspershareof0。

2p。

WeexpectNon-Coreassetstodeclineby4。

5%QoQ[quarter-on-quarter]to£100bnatendQ12012,CreditSuissesaid。

RentokilInitial,rat-catchertoHerMajesty,andabignameinwash-roomsupanddowntheland,isonceagainexpectedtohavehaditsperformancedraggeddownbythetroublesomeCityLinkcourierbusinessinthefirstquarter。

CityLinkwillcontinuetopostlosseswithnosignsofimprovementlikelytobevisibleuntilH2[secondhalf]2012attheearliest,whilerecenteuroweaknesswillputadditionalpressureonearnings,reckonsPanmureGordon。

Thebrokerisforecastingfirstquarterrevenuesof£629m,upfrom£609。

7mlastyear。

Forearningsbeforeinterest,taxandamortisation(EBITA)ithaspencilledinafigureof£37。

5m,asmidgenupfromlastyears£37。

2m,whileithasforecastadjustedprofitbeforetaxof£28。

5m,upfrom£27。

4mtheyearbefore。

CityLinkremainsanunresolvedissueandweanticipatelargerlossesof£11。

3mattheEBITAlevelvs。

£10。

7mlastyear,thebrokersaidinapreviewoftheresults。

ImprovingorganicgrowthinTextileHygieneandFacilitiesServicesshoulddroptothebottomlineandweareanticipatingimprovingprofitabilityasaresult。

PestControlislikelytoseesomemarginpressurewiththeUSlossmakingduringQ1duetoseasonalitywithhighermarginEuropeanoperationslikelytoseesomeFX[foreignexchange]pressure。

ItisalsoimportanttopointoutthatthesegmentalsplithasbeenreclassifiedwithAustralian/NewZealandoperationsmovedintoTextileHygieneandPestControl。

CityLinkandFacilitiesServicesaretheonlydivisionstoremainunchanged,thebrokeradded。

Acrossthepond,USnon-farmpayrollsis,asever,thefirstkeyeconomicindicatortobereleasedfortheprecedingmonth。

Expectationsarethatpayrollswillhaveincreasedby175,000inApril,followingonfromMarchs170,000increase。

Theunemploymentrateisseenstayingat8。

2%。

INTERIMDIVIDENDPAYMENTDATE

AnimalcareGroup,AsianCitrusHolding

INTERNATIONALECONOMICANNOUNCEMENTS

Non-FarmPayrolls(US)(13:30)

PMIComposite(EU)(09:00)

PMIComposite(GER)(08:55)

PMIServices(EU)(09:00)

PMIServices(GER)(08:55)

UnemploymentRate(US)(13:30)

ANNUALREPORT

DillistoneGroup,ToumazLimited

IMSS

IMI,Laird,Rolls-RoyceHoldings,RoyalBankofScotlandGroup

SPECIALDIVIDENDPAYMENTDATE

AsianCitrusHolding

AGMS

AerLingusGroup,GlobaltransInvestmentGDR(RegS),IMI,JohnLaingInfrastructureFundLtd,Laird,Rolls-RoyceHoldings,SmurfitKappaGroup,ToumazLimited

TRADINGANNOUNCEMENTS

RentokilInitial

UKECONOMICANNOUNCEMENTS

NewCarRegistrations(09:30)

FINALDIVIDENDPAYMENTDATE

AminoTechnologies,Berendsen,Bodycote,Devro,Foresight2VCT,Foresight2VCTCShares,LondonCapitalGroupHoldings,Nichols,Pearson,PrometheanWorld,SEGRO,TikitGroup,UltraElectronicsHoldings

Q1

LancashireHoldings,NorwegianPropertyASA,SmurfitKappaGroup

NakedTextNakedText


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