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Flutter and Wetherspoon’s updates key news for Wednesday


The mid-point of the week will see the gambling and pubs sector move into focus, with trading updates due from Paddy Power owner Flutter Entertainment PLC (LON:FLTR) and publican JD Wetherspoon PLC (LON:JDW).

Meanwhile, investors may be on the lookout for interims from Great Portland Estates for more clarity on the state of the UK’s property sector, while there may also be some fizz from an update by drinks bottler Coca-Cola HBC AG (LON:CCH).

For Flutter, investors will be keeping an eye on forecasts after the gambling group predicted an underlying loss of £140-£160mln in the US for the full year at its interim results in August, however, the remaining activities are forecast to deliver underlying earnings (EBITDA) of £1.1-£1.3bn.

The company also said its second half had started well, however, the advent of lockdown 2.0 in the UK may have squeezed the brakes on some of its operations with bricks and mortar bookmakers being forced to close under new restrictions.

However, with major sports events still expected to continue despite the new lockdown, the firm’s online operation could help offset the downturn from its retail outlets.

Wetherspoon’s updates as lockdown begins again

Wednesday will bring a trading update from publican JD Wetherspoon PLC (LON:JDW), coming shortly after England’s pubs were forced to shut down again in a second lockdown.

With this in mind, the update is likely to contain more opinions from chairman Tim Martin on the effectiveness of the latest lockdown restrictions, however, investors are likely to be more interested in how the company’s pub estate has performed amid regional restrictions, as well as its cash balance and any cost-saving plans.

Given the new lockdown is likely to once again hammer the hospitality industry, there may also be a risk of permanent pub closures and job losses. There will also be interest in any methods the company employs to keep making money during lockdown, including the possibility of selling takeaway drinks.

Significant announcements for Wednesday November 11:

Trading updates: Flutter Entertainment PLC (LON:FLTR), JD Wetherspoon PLC (LON:JDW), Coca-Cola HBC AG (LON:CCH)

Interims: Great Portland Estates PLC (LON:GPOR), Great Eastern Energy Corp Ltd (LON:GEEC), Renold PLC (LON:RNO), Workspace Group PLC (LON:WKP)

Finals: Beximco Pharmaceuticals Ltd (LON:BXP)

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