Companies reporting w/c 25 November

We give our thoughts on what to expect from companies announcing results week commencing 25 November 2019.


Compass Group Plc (Q4 2020 Earnings Release)

The catering group has performed well this year, mainly thanks to good momentum in its key North American market. One of the appeals for investors is the relatively stable nature of the business so there shouldn’t be any big surprises in these full-year figures. Europe will be a focus as the company reported some weakness there in the last update in July. Rival Sodexo has been hit recently by concerns that food delivery companies might provide stronger competition in future for the catering sector. Overall full-year revenue should rise by around 6% and the market will be interested in any guidance for the new financial year.

We currently list Compass as a BUY

IG Design Group Plc (Q2 2020 Earnings Release)

Investors will be hoping for more positive momentum in 2019 following the company’s positive update in August where the company maintained growth through its strong order book and greater production volumes. Investors will also hope recent acquisitions will start to generate stronger bottom line figures helping to maintain the progressive dividend policy.

We currently list IG Design as a BUY

Intertek Group Plc (Q3 2019 Sales and Revenue Release – Trading Update)

The quality assurance and safety testing group has been making steady progress in recent years through both organic and acquisition led growth. However, the half year numbers were a little mixed and falling short of expectations while benefitting from a currency tailwind. The third quarter numbers should continue to benefit from a currency translation tailwind. While there is a long term structural growth in this market, some may wonder what impact the global trade tensions are having on the group given that a large proportion of its labs and testing facilities are based at shipping ports. Some analysts in the city have taken a more positive stance on the stock lately, believing the company is in a position to return surplus capital to shareholders.

We currently list Intertek as a BUY


Marston’s Plc (Q3 2019 Sales and Revenue Release – Trading Update)

Following the company’s trading update in October investors will be hoping for continued progress on the primary goal of debt reduction which the company has aimed to reduce to £200m by 2023. The company warned underlying pre-tax profit would be roughly 3% lower than last year, therefore any upside surprises will be more than welcomed. Improvements in the destination and premium operations side of the business are likely to be a focus considering the reduced margins experienced earlier in the year. However, trading on an attractive forward P/E, with a robust dividend, this stock still remains a strong proposition.

We currently list Marston’s as a BUY 

Iomart (Interims)

At the last set of full year results, sales breached £100m for the first time, up 6% on the previous year, and there is expectation that this steady rise in sales should have continued during the latest half year period as cloud services are adopted by more businesses, government departments and individuals. The group has made some small acquisitions so there is an expectation of a progress update on the integration of these, but an eye will also be kept on the debt levels, which have been creeping up.

We currently list Iomart as a BUY


Ince Group (Interims)

Recent acquisitions by the group contributed to a rise in revenues to £52.6m in July. However, resulting costs did hurt profits. Despite this, the trading update in November reported this was in line with expectations and performance would be weighted to the second half. With the legal services market ripe for further consolidation and management keen to take advantage of this opportunity, investors will be keeping their attention on any news of further developments. As a smaller, niche company investors will also hope the attractive dividend yield can be maintained.

We currently list Ince 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.