BT Group PLC (LON:BT.A) will report its fourth-quarter and full-year results on Thursday as speculations mounts over the future of its BT Sport division.

For the fourth quarter, the consensus forecasts are for revenue of £5.29bn (down 6.1% year-on-year) and underlying earnings (EBITDA) of £1.83bn.

For the full-year, the City’s scribblers have pencilled in a 6.4% decline in revenue to £21.37bn and EBITDA of £7.43bn, equating to earnings per share of 18.7p.

Net debt excluding lease liabilities is expected to clock in at £11.51bn, with normalised cash flow during the fourth quarter estimated at £520mln.

The telecoms giant recently confirmed that it is in talks over the future of its BT Sport division but was otherwise tight-lipped. The City will be interested to see whether there is an additional focus on this part of the business in the results commentary.

Burberry takes to the catwalk

On the same day, luxury fashion brand Burberry Group PLC (LON:BRBY) is likely to strut its stuff as it releases final results, having upgraded its full-year forecasts in March.

Like-for-like retail sales for the fourth quarter are estimated to rise between 28% and 32% compared with the same period last year, while full-year group revenue is forecast to decline between 10% and 11%, with adjusted operating margin to be in the range of 15.5% to 16.5%.

As of January, the trench coat designer still had 15% of stores closed while 36% were operating with reduced hours or under regional restrictions. Given recent post-lockdown reopenings in several countries, investors will be hoping trading activity has picked up further.

However, there is a potentially large snag in the form of an ongoing public relations fracas in China, one of the company’s core markets, over the recent spat between the country’s communist government and several western administrations over allegations of human rights abuses in the province of Xinjiang.

The FTSE 100 company lost its Chinese brand ambassador, actress Zhou Dongyu, while its famous beige tartan was scrubbed from a popular video game as part of Chinese backlash against one of the members of the Better Cotton Initiative, which said in October it was suspending its approval of cotton sourced from Xinjiang.

Greggs eyes reopening

With the pandemic having forced most of its bakeries to close, a trading update from Greggs PLC (LON:GRG) is likely to be eyed for how the group has performed since April 12, when a relaxation of lockdown restrictions in the UK allowed it to reopen most of its stores.

In terms of the rest of the period, the roll out of a click and collect service alongside a delivery partnership with Just Eat is likely to have helped offset some of its losses, however with customer trends having shifted even further online during the lockdown, investors may be concerned whether the group can continue to deliver the same levels of success if high street footfall fails to recover to pre-COVID levels.

With this is mind, the company’s store opening programme will likely come into focus on Thursday, as well as whether it is planning new additions to its offering to lure in more customers following the success of its vegan sausage roll.

Thursday May 13

Trading announcements: Greggs PLC (LON:GRG), Beazley PLC (LON:BEZ), ContourGlobal PLC (LON:GLO), Hargreaves Lansdown PLC (LON:HL.), Elementis plc (LON:ELM)

Finals: BT Group PLC (LON:BT.A), Burberry Group PLC (LON:BRBY), 3i Group plc (LON:III)

Interims: Brewin Dolphin Holdings PLC (LON:BRW), Grainger PLC (LON:GRI), Ten Lifestyle Group PLC (LON:TENG), Countryside Properties PLC (LON:CSP)

FTSE 100 ex-dividends to knock 3.83 points off the index: Royal Dutch Shell PLC (LON:RDSB), Avast PLC (LON:AVST

Economic data: US jobless claims, US PPI

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