The week ahead with nebusiness

Jun 27 2008 By Andrew Mernin

What is in store for nebusiness readers over the next seven days?

Retailers HMV and ASOS will be in the spotlight with results this coming week, while Taylor Wimpey is set to give the latest gloomy snapshop of the housing market.

Monday’s results from online fashion retailer ASOS should reveal healthy profits growth as the company bucks the worst of the tough trading conditions endured by high street rivals.

ASOS - which stands for As Seen On Screen - is expected to post pre-tax profits of around £7 million for the year to March 31 - more than double the previous year’s £3.4 million.

Music and games retailer HMV is set to unveil the fruits of a recent sales recovery with its full-year results on Tuesday.

The group - one year into a three-year turnaround plan led by chief executive Simon Fox - is expected to post pre-tax profits towards the £58m level for the year to April 26, ahead of the previous year’s £48.1m.

Housebuilding stocks have been hit with a fresh torrent of downgrades from the City in recent weeks with analysts fearing the worst as the housing downturn gathers pace.

On Wednesday, Taylor Wimpey presents a pre-close update amid fears that many firms in the beleaguered sector could be forced to turn to shareholders for cash to secure their finances.

Taylor Wimpey lost its place in the FTSE 100 Index in March and its shares have fallen to around a tenth of their worth a year ago.

The group, which sells homes under brands including George Wimpey and Bryant Homes, also anticipated that the ``current subdued conditions“ would continue, leading to profits at the lower end of expectations this year.

On Monday – the Monday Interview with George Hepburn of the Community Foundation, as well as Kevin Rowan’s weekly column;

On Wednesday - catch up with the region’s top Dealmakers, and see all the North East’s new developments in Commercial Property;

On Thursday - read all the latest technology news in nedigitalbusiness;

And on Friday, all that’s happening in the world of construction.