Look ahead to FTSE 350, other companies reporting & economic events from 12 – 16 August 2024

• Aviva hoping to profit from earlier price increases

• Can Dowlais keep full-year guidance on track?
• Will the Crowdstrike IT outage derail TUI’s profit outlook?

Aviva, Half Year Results, Wednesday 14 August
Derren Nathan, head of equity analysis, Hargreaves Lansdown 
“Aviva had a strong first quarter across all divisions. Next week’s interim results should see a continued benefit from earlier price rises in home and motor insurance. The results will also enjoy a contribution from recently acquired business. So far, it’s committed more than £1.2bn to acquisition’s this year.

The UK wealth market is another potentially significant growth opportunity for the group. Analysts will want to hear whether the post half year-end volatility in global markets has impacted flows.

Aviva’s upgraded full-year target is for mid-single digit growth in total dividends. It’s been buying back shares too so dividend per share growth may be a little higher. Keep one eye on the interim pay out, although nothing’s guaranteed.”

Dowlais, Half Year Results, Tuesday 13 August
Aarin Chiekrie, equity analyst, Hargreaves Lansdown 
“In the four months to the end of April, Dowlais saw its underlying revenue fall 1.9%. This was driven by a 3.3% decline in its Automotive business, where growth in China and its Driveline products was more than offset by the volatility of electric vehicle production volumes. Despite this, underlying operating margins rose in the period, as profitability improved in both the Automotive and Powder Metallurgy businesses.

Investors will be keen to see if the outlook for demand and revenue has changed in next week’s results. Full-year revenue guidance has already been wound back from £5.5bn (flat on last year) to “slightly below” that level. Performance was always expected to be weighted towards the second half, due to the timing of several new programme launches. But any further weakness in the upcoming first-half results risks leaving too much to do later in the year, opening the door to further potential downgrades.”

TUI, Q3 Results, Thursday 15 August
Aarin Chiekrie, equity analyst, Hargreaves Lansdown 
“TUI delivered a blockbuster second quarter as revenue rose 16% to a record €3.6bn. Performance was buoyed by strong travel demand and stronger performances in the smaller Cruise and Hotels & Resorts businesses.

Looking to next week, markets are expecting third-quarter revenue to rise around 7.5% to €5.7bn. Operating profits are set to rise at a faster pace of around 28% to €217mn, which is slightly ahead of the 25% full-year target. Investors will be keen to hear if this is still where the goalposts lie, especially after the Crowdstrike IT outage wreaked havoc for airlines and holidaymakers.”

Among those currently scheduled to release results next week:

*Events on which HL will be updating investors