Companies reporting next week

AS the new tax year begins, heavyweight corporate news is back on the agenda with some of the UK's biggest retailers - Tesco, Sainsbury's and Marks & Spencer - scheduled to update investors next week.

The City will be hoping for yet more good news from Marks & Spencer when the retailer issues its fourth-quarter trading update on Wednesday. Another improvement in sales is expected but investors will not get an indication of when boss Luc Vandevelde may split his dual role of chairman and chief executive, despite speculation this week.

Sports lovers are looking forward to an action-packed summer and retailer JJB Sports will be hoping to be grab a slice of the action. The company posts final figures on Wednesday and fund manager Gerrard is forecasting pre-tax profits of £107.7m, up from £84.1m. And with big events such as the football World Cup coming up, the City will also be hoping for some idea of how JJB expects to fare over the next few months.

Health club operator LA Fitness will need to reassure investors it remains in good shape on Tuesday given the sluggish trading seen at upmarket rivals Holmes Place and Esporta in recent months.

Analysts will be hoping a focus on the 'affordable quality' end of the market and trial schemes such as special classes for older people has paid off over the crucial New Year period.

LA Fitness wants to have 70 clubs operating by July 2003 and house broker Old Mutual is forecasting interim profits around £2.9m, up from £2.2m last year.

Shares in drugs discovery firm Alizyme have surged 73% in the past six months, helped by approval for final trials of a key treatment for inflammatory bowel disease.

Interim results in September showed losses had widened to £3.3m and full-year figures on Thursday are expected to a show Alizyme £7.5m in the red, compared with just over £5.5m a year ago.

Analysts will expect another strong set of figures on Wednesday from Britain's biggest grocer, Tesco. Fund manager Gerrard expects the supermarket chain to report a 15% jump in pre-tax profits to £1.37bn from £1.07bn.

Tesco's closest rival Sainsbury's will round off the week with a fourth-quarter trading update on Friday. The company has been focusing on refurbishing stores and improving product ranges and the City is expecting sales growth of between 5% and 6%.