Thursday will bring half-year figures from newspaper group Daily Mail & General Trust PLC (LON:DMGT).
Investors are unlikely to be looking forward to the figures after the owner of the Daily Mail suspended its full-year guidance as the coronavirus pandemic hit sales, particularly in its Events and Exhibitions and Consumer Media businesses.
As a result, shareholders are likely to look for how serious the damage will be as well as how healthy the companys balance sheet is and how the firm is planning to ride out the effects of the crisis.
All eyes on IWG renewals
IWG PLC (LON:IWG) will break a two-month silence since an update in March, with the serviced offices group issuing a trading statement on Thursday.
In March, the serviced offices provider suspended its dividend and its share repurchase programme, while flagging expected pressure on its businesses from the coronavirus pandemic.
In a preview, Peel Hunt said the immediate impact will be limited, considering many tenants will have had at least six months left on their leases so it is the rate of renewals that now matters. “We are assuming that renewal rates drop to 40%, from a usual 70%, in April-June, although rent suspension in exchange for a contract lengthening might make this too pessimistic,” the Peel Hunt analysts said.
“Renewals are is a metric that IWG does not normally communicate hence even if it is quantified, it will require comparative period data and a level of detail that may not be forthcoming, hence we will have to look at general occupancy rates which give only limited clarity.”
IWG's occupancy rateRead More – Source