News

Tuesday preview: Redrow, Craneware

08 September 2008 15:34:00

The UK government's changes to stamp duty and the week-end bail-out of US mortgage lenders Fannie Mae and Freddie Mac should make life a little easier for hard-pressed UK housebuilders in the months ahead.

The developments have come too late to affect Redrow's full-year results, which are announced on Tuesday.

The company said back in July that it expects to meet expectations for the full year, excluding write-downs, despite a sharp increase in cancellations, and nothing much has changed in the UK housing market in the interval to change that.

The main area of interest, therefore, will concern provisions for the slump in the value of its land bank.

Analysts are expecting full-year earnings per share to fall by more than a third to 33.7p, with pre-tax profits down to £45.7m from £120.5m a year ago. Sales are forecast to fall to £663.5m from £795.7m.

Hospital management software supplier Craneware's results for the year ended 30 June 2008 should also be in line with expectations.

The AIM-listed software company has pleased the market with a string of contract wins since floating a year ago, as it benefits from a legislative change that requires US states to ensure correct Medicare payments to healthcare providers by 2010.

KBC Peel Hunt said the number of contract wins in the last year has been 29% higher than it envisaged. It is forecasting adjusted profit before tax of $4m and an adjusted EPS of 12.6 cents.

Tuesday September 09

INTERIMS
Advanced Medical Solutions, AGI Therapeutics, Fairpoint Group, Impellam Group, Johnson Service Group, KBC Advanced Technologies, STM Group, Tikit, Velti

INTERIM DIVIDEND PAYMENT DATE
Foreign and Colonial Inv Trust

INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (GER) (07:00), Current Account (GER) (07:00), Wholesales Inventories (US) (15:00)

FINALS
Abcam, Morse, Redrow

AGMS
VP

UK ECONOMIC ANNOUNCEMENTS
BRC Sales Monitor (11:00), RICS house price survey; Manufacturing output data; Industrial production data.

FINAL DIVIDEND PAYMENT DATE
Accident Exchange Group, Anglo-Eastern Plantations, AT Communications

QUARTERLY RESULTS
Ocean Power Technologies

All data suppied by Digital Look (15 minute delay)




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