Just Eat, Legal & General dominate Wednesday results diary


The mid-point of the week will see food delivery and insurance take the spotlight in the results diary with final results from Just Eat and Legal & General.

Investors will also have a litany of other results to look forward to including numbers from Spirax-Sarco, Balfour Beatty and National Express. Meanwhile, markets will also be keeping an eye on US inflation data

Did somebody say Just Eat results?

Just Eat Takeaway.com NV’s (LON:JET) finals on Wednesday are coming at a time of big excitement for competitor Deliveroo’s IPO.

Shares are little changed from where they were 18 months ago despite high demand for food deliveries as it fights with huge competition.

The company is growing revenue fast but it’s not just down to the supportive market, as the Anglo-Dutch group is having to pump a fair whack of cash on marketing, while also investing in growth.

JET said last year that it plans to hire thousands of new couriers as it stepped up a gear with adding deliveries to its Just Eat marketplace offering in the UK, so investors will want to hear updates on this.

The market will also be keen for updates on which of London, Amsterdam or New York will be best for its long-term listing location.

The acquisition of US-based Grubhub required the firm to list in New York so Just Eat will need to make a decision on which European stock exchange to take off the order.

Bonds key for L&G

Legal & General PLC (LON:LGEN) (L&G) has already announced many of its headline numbers for 2020, so few surprises are likely to be expected when it reports its final figures.

Analysts are intrigued by the impact rising bond yields will have had on the insurance firm’s solvency ratio; an improvement in the ratio should enable the company to write a higher level of new annuity business than previously expected.

“An unexpected (if long-awaited) rebound in the yield on Government (and other) bonds makes it easier for Legal & General to generate the income it needs to match the liabilities it will face as customers begin to draw down their pensions or claim on their policies,” explained Russ Mould, the investment director at AJ Bell.

The insurer has already indicated it intends to leave the 2020 dividend unchanged but from this year on it is looking to grow the dividend by “low to mid-single digits” (in percentage terms).

Significant announcements for Wednesday 10 March:

Finals: Just Eat Takeaway PLC (LON:JET), Legal & General PLC (LON:LGEN), Spirax-Sarco Engineering PLC (LON:SPX), Balfour Beatty plc (LON:BBY), CLS Holdings PLC (LON:CLI), FDM Group (LON:FDM), Hill & Smith Holdings PLC (LON:HILS), Ibstock PLC (LON:IBST), IP Group PLC (LON:IPO), National Express PLC (LON:NEX), Quilter PLC (LON:QLT), Tritax Big Box REIT (LON:BBOX), Aptitude Software Group PLC (LON:APTD), Breedon Group PLC (LON:BREE), Foxtons Group PLC (LON:FOXT), Restaurant Group (LON:RTN), TT Electronics (LON:TTG), Vaalco Energy (LON:EGY)

Interims: Kin and Carta PLC (LON:KCT)

AGMs: Blackrock Income & Growth Investment Trust (LON:BRIG), Inspirit Energy (LON:INSP), Northamber (LON:NAR), Titon (LON:TON)

Economic announcements: US CPI


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