Companies reporting w/c 26 August

We give our thoughts on what to expect from companies announcing results week commencing 26 August 2019.


Bunzl Plc (Q2 2019 Earnings Release)

Following a period of underperformance investors will be hoping the group at least reiterates guidance for the year, rather than for signs of slowing revenue growth. The company provides a variety of every day products ranging from disposable cups, napkins to food packaging. The US is its largest market contributing around 58% of revenue. The group are known for a growth strategy based on acquisitions.

We currently list Bunzl as a BUY


James Fisher & Sons Plc (Q2 2019 Earnings Release)

Being able to provide a range of maritime specialist services such as oil rigs, nuclear decommissioning, wind farms, transporting oil, wharf operations, marine equipment and monitoring stress in structures and submarine rescue, creates an expertise and limits competition. It has continued to make acquisitions of niche businesses, the latest being of a service provider to offshore oil in Brazil. Any further comment on the order pipeline will be worth noting.

We currently list James Fisher & Sons as a BUY


Chesnara PLC

The acquisitive life policy operator should continue to show good cash flow generation in its niche area of the market. It is also expected to show good solvency ratio metrics. However, the anticipated lower inflation environment and recent market wobbles will impact upon their investment returns. Investors will expect to hear how acquired businesses are performing, especially the Scildon acquisition.

We currently list Chesnara as a BUY

The Gym Group (Interims)

The Gym Group offers low cost, flexible gym access in around 165 locations around the UK and is demonstrating rapid growth, stating in the last update in July growth had remained strong. A new premium type of membership, LIVE IT, has boosted revenue and in these interim figures investors will be interested how that is performing. There are plans to open a further 15-20 new locations this year, along with new “small box” gyms, so investors will also be looking for progress on those. After a 36% rise in revenues last year analysts are forecasting £150mn for 2019 and the market will also be watching for any guidance on full-year profits.

We currently list The Gym Group as a BUY

All information given including prices, yields and our opinion is correct at the time of publication. Our opinions on investments can change at any time and for our latest view please go to To understand how our Investment research team arrive at their views please read our Investment Research Policy.