IAN Meakins hasn't got the easiest job. The new chief executive of Wolseley - celtic Plating Pendant who presents the plumbing and building group's full- year results for the first time on Monday - stepped into the shoes of ousted chief executive Chip Hornsby in July. Now he is tasked with turning around the underperforming juggernaut.
Investors will be keen to hear Meakins' plans and his views on the prospects for the business in the coming months. Although the company has already cut 27% of its workforce, he is tipped to reveal details of further cost-cutting plans.Meakins' first move as chief executive was to start dismantling Other Brands Jewellery the empire built up by Hornsby: planning to sell its operations in Belgium, the Czech Republic and Slovakia. Investors will also want to know if there are likely to be any further disposals. Brokers don't expect too many surprises from the numbers, after a detailed pre-close trading statement. The City will, however, be scrutinising the figures for signs of a pick-up in any markets. Liberum Capital reckons underlying pre-tax profits will come in at around Pounds 256 million - down from Pounds 631 million last year. But they also warn that there will be write-offs and
embroidered patches other exceptional charges of around Pounds 1.5 billion. Analysts are, however, pencilling in a "token" final dividend of 3p.
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