The Week Ahead: RSA to report first-quarter results
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.The head of RSA Insurance, Stephen Hester, must be one of the few people in the City who dreads the arrival of bonus season.
Having had to turn down lucrative pay-outs while at the state-owned Royal Bank of Scotland, he is facing a shareholder revolt at the annual meeting on Friday over a long-term share award worth three times his £950,000 basic salary.
Before that, RSA will report first-quarter results which are expected to have been boosted by benign winter weather in the UK and Scandinavia.
According to Panmure Gordon, net written premiums are expected to have fallen 15 per cent to £1.68bn because of disposals.
The life insurer Legal & General is set to report first-quarter numbers tomorrow, with analysts expecting the company to have generated about £333m of cash.
Experts will be watching closely to see how far its annuity sales have fallen, following the introduction of pension reforms in April.
Away from the insurance sector, Sainsbury’s – the UK’s third biggest supermarket – follows in the footsteps of Tesco with its full-year results tomorrow. Most in the sector agree that this has been one of the toughest years for the supermarket industry and Sainsbury’s is expected to reveal a fall in sales for the first time in a decade. HSBC reckons pre-tax profits will fall 21 per cent, with margins also hit.
On the same day, the online fast fashion business and Asos wannabe Boohoo unveils its maiden full-year results since listing last year. Management will want to paint a bright future for the business after suffering a profit warning in January which has seen the shares trading at nearly half their listing value.
Thursday sees Morrison’s new chief executive, David Potts, give his first formal assessment of the task at hand when he unveils the supermarket’s first-quarter results. Less than two months since starting, the City does not expect any major strategy updates from him, although analysts will be keen to hear his initial thoughts on the struggling supermarket.
On Friday, telecoms giant BT will report full-year results, having had its £12.5bn takeover of EE rubber-stamped last week.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments