PAP.L Share News (PAP)

The late August bank holiday means that five days of results are squeezed into four but even so, the schedule does not seem particularly busy, and with the major economic event of the week - Federal Reserve Chairman Ben Bernanke speaking at the central bankers conference in Jackson Hole - taking place on Friday, markets may find themselves treading water.Of the companies scheduled to report, Hays, Serco, G4S, Admiral and a number of online gaming firms could catch the eye.Recruiters have mostly been having a tough time of it and Hays is no exception, although the group said back in April it had made an encouraging start to the year. That upbeat assessment had changed, however, by July when the group grumbled about a "challenging environment", with the slow-down in the financial services sector hitting hard. The market is expecting the group to report a profit before tax of £120.3m for the year to the end of June on revenue of £3,642m. Earnings per share are seen rising to 5.47p from 5.19p. The group recently rebased - weasel words to describe a cut - its dividend policy to pay-outs between one-third and one-half of earnings per share, so the market has pencilled in a full-year dividend of 2.53p, down from 5.80p last year, which means a final dividend for the year of 1.70p. For those of you who like to follow stocks in the gambling and gaming sectors there are plenty of updates scheduled. Peel Hunt thinks online gaming firm 888's interim results will show growth over the first half of 2011 but the second half of the year is likely to be more challenging, "given the investment in newly regulated markets and the potential disruption of the Olympics."The broker is also expecting Irish bookie Paddy Power to serve up impressive results on Wednesday. Australia and the online business are once again likely to be the main drivers, the broker thinks, and given the recently reported experience of Ladbrokes there may even be signs of recovery in the bookie's home market of Ireland."The cash pile is growing and there is likely to be an increasing interest in what the group intends to do with this," Peel Hunt suggests.Gaming software specialist Playtech is set to see a maiden first half contribution from PTTS, the company it acquired in July 2011. Peel Hunt is predicting adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of around €88m, including the contribution from William Hill Online.As for online gaming titan bwin.party, which publishes interims on Friday, Peel Hunt is forecasting clean EBITDA of around €89m, versus €81.9m in the first half of last year."The combination of the uncertain regulatory environment in Germany, a weak poker market and rising taxation has led to a stream of downgrades. This has been exacerbated by the need to focus on the integration of the two businesses," Peel Hunt said.Given the flak it took about its Olympic Games security foul-up, interim results from G4S on Tuesday might get a higher profile than usual.Panmure Gordon is expecting a modest improvement in earnings per share year-on-year, reflecting a pick-up in organic growth, offset by a four-tenths of a percentage point decline in margins due to start-up costs in the Cash Systems business and lower margins in the US Security business."We have pencilled in +6% DPS [dividend per share] growth but cautiously assume a flat full year dividend given the earnings uncertainty post the Olympic contract," the broker said. "Key areas of interest will be the Olympic contract and how the company has performed during the games, as well as confirmation of the financial impact. Consensus was published prior to the Olympic contract and we could see an underlying hit to PBITA [profit before interest, tax and amortisation] (£2-4m) as a result. The company may also make a provision for the expected loss on the Olympics contract as an exceptional item, like it did with the Kabul embassy contract a couple of years ago," Panmure Gordon noted. "Perhaps more importantly will be the impact this contract may have on the pipeline of opportunities particularly with the UK government," the broker speculates.Monday August 27INTERIM EX-DIVIDEND DATEFirst Quantum Minerals Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSIFO Business Climate (GER) (09:00)IFO Current Assessment (GER) (09:00)IFO Expectations (GER) (09:00)Pending Homes Sales (US) (15:00)Tuesday August 28INTERIMSBouygues SA, Bunzl, Eurasia Drilling Co Ltd GDR (Reg S), FBD Holdings, G4S, Inspired Energy, Lamprell, OJSC Magnitogorsk Iron & Steel Works GDR (Reg S), Regus, UTV Media, Yule Catto & CoINTERIM DIVIDEND PAYMENT DATEDewhurst, Dewhurst (Non-Voting)INTERNATIONAL ECONOMIC ANNOUNCEMENTSBalance of Payments (GER) (07:00)Consumer Confidence (US) (15:00)M3 Money Supply (EU) (09:00)Q2OJSC Magnitogorsk Iron & Steel Works GDR (Reg S)AGMSAdvanced Computer Software Group, Development Securities, Livermore Investments Group Ltd., Omega Diagnostics Group, Pinewood Shepperton, Vedanta ResourcesWednesday August 29INTERIMS21st Century Technology, 888 Holdings, Chime Communications, Corin Group, DP World Limited, Grafton Group Units, Hansteen Holdings, IQE, OJSC Pharmstandard GDR (Reg S), Paddy Power, Serco Group, Zhaikmunai LP GDR (Reg S)INTERIM DIVIDEND PAYMENT DATEArden PartnersINTERIM EX-DIVIDEND DATEAcencia Debt Strategies Ltd., African Barrick Gold , Croda International, Devro, Downing Income VCT 3 E Shs, Ferrexpo, Glencore International, Henderson Group, Hikma Pharmaceuticals, Hochschild Mining, Kingspan Group, Lancashire Holdings, Legal & General Group, Low & Bonar, LPA Group, Mobeus Income & Growth Vct, Robinson, Rotork, Wood Group (John), XstrataQUARTERLY EX-DIVIDEND DATEAnglogold Ashanti Ltd., Energy XXI (Bermuda) (Di), Premier Energy & Water Trust, Real Estate Credit Investments PCC Ltd, Schlumberger Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSBeige Book Fed Survey (US) (19:00)Crude Oil Inventories (US) (15:30)GDP (Preliminary) (US) (13:30)MBA Mortgage Applications (US) (12:00)FINALSMattioli WoodsAGMSCoral Products, Green Compliance, Ingenious Media Active Capital Ltd.FINAL EX-DIVIDEND DATEBloomsbury Publishing, City of London Group, Downing Absolute Income VCT 2, Downing Distribution VCT 1, Downing Income VCT 3, ECO Animal Health Group, Falkland Islands Holdings, Fletcher King, Micro Focus International, NCC Group, Park Group, Rank Group, Stagecoach GroupThursday August 30INTERIMSAdmiral Group, APR, Bilfinger Berger Global Infrastructure Sicav S.A.(DI), Cape, Evraz, Hardy Oil & Gas, Hunting, Integra Group GDR (Reg S), International Public Partnerships Ltd., Kentz Corporation Ltd., Lombard Medical Technologies, Macfarlane Group, Melrose, Perform, Playtech Ltd., Public Power GDR SA (Reg S), Salamander Energy, Unite Group, Vislink, WPPINTERIM DIVIDEND PAYMENT DATEOctopus Second AIM VCTINTERNATIONAL ECONOMIC ANNOUNCEMENTSBloomberg Consumer Confidence (US) (14:45)Business Climate Indicator (EU) (10:00)Continuing Claims (US) (13:30)Economic Sentiment Indicator (EU) (10:00)Initial Jobless Claims (US) (13:30)Personal Consumption Expenditures (US) (13:30)Personal Income (US) (13:30)Personal Spending (US) (13:30)PMI Retail (EU) (09:00)PMI Retail (GER) (08:55)Unemployment Rate (GER) (08:55)FINALSHaysAGMSConsort Medical, Iomart Group, New Century AIM VCTUK ECONOMIC ANNOUNCEMENTSMortgage Approvals (09:30)Friday August 31INTERIMSBwin.party Digital Entertainment, Charles Taylor, Chesnara, Computacenter, EMIS Group, Exillon Energy, Goldenport Holdings Inc., Headlam, IFG Group, Independent News & Media, Lavendon Group, Marshalls, Molins, Restaurant Group, Vimetco NV GDR (Reg S)INTERIM DIVIDEND PAYMENT DATEBrunner Inv Trust, Foresight 2 VCT Planned Exit Shares, Foresight VCT Planned Exit Shares, Maven Income & Growth 3 VCT, Maven Income and Growth VCT 5, Mecom Group, Nichols, Reed ElsevierQUARTERLY PAYMENT DATECity of London Inv TrustINTERNATIONAL ECONOMIC ANNOUNCEMENTSChicago PMI (US) (13:45)GFK Consumer Confidence (GER) (07:00)International Reserves (EU) (11:00)Retail Sales (GER) (07:00)U. of Michigan Confidence (Final) (US) (15:00)Unemployment Rate (EU) (10:00)Q2Frontline Ltd.GMSCareCapital GroupAGMSJubilant Energy, Victoria, Worldlink GroupUK ECONOMIC ANNOUNCEMENTSGFK Consumer Confidence (01:00)FINAL DIVIDEND PAYMENT DATEAtkins (WS), Atlantis Japan Growth Fund Ltd., JPMorgan Euro Small Co. Trust, ProVen Growth & Income VCT, Solid StateJH