Companies reporting next week

With several major media and leisure players reporting this week, the City will be keeping a close eye on the advertising downturn and the effects of the September 11 attacks on the tourism sector.

The disruption faced by transport group Stagecoach's Coach USA arm following the terrorist attacks on September 11 is expected to see first half profits dip to £88m from £91.8m a year ago when it reports on Wednesday. Two of Coach USA's busiest months are in September and October and the group warned last month it was already facing a £10m revenue shortfall given the disruption caused by the atrocities.

An update on the current prospects at the arm and the impact of Railtrack's woes on Stagecoach's rail operations, South West Trains and Virgin, will be the prime areas of interest for investors.

Takeover speculation about Securicor gathered pace this week with Rentokil mentioned as a possible bidder and analysts will be keen to hear the group's opinion on its future when it reports annual figures on Thursday. Securicor's market value has fallen since the US government decided it would nationalise airport security, a move that led to concerns about future growth at the group's US aviation security services arm Argenbright.

Two-thirds of Securicor's revenue comes from security, 22% from distribution and the remainder communication. Losses on the sale of 50% of its US wireless business will contribute to profits falling 5% to £45.5m.

Six Continents, the hotels and leisure group formerly known as Bass, warned earlier this month that profits in its hotels in the year to September 30 arm would be $25m (£16.4m) lower than expected after the US terror attacks. Full-year figures on Thursday will also, however, be hit by the impact earlier this year of the slowdown in the US economy and the effects of the foot and mouth outbreak on tourist visitors to the UK.

Despite receiving a boost from the acquisition of the Post House chain, Gerrard predicts the group, with brands such as Inter-Continental, Crowne Plaza and Holiday Inn, will see pre-tax profits fall 8% to £690m.

Scottish & Newcastle has been on the City's radar screen this week following the takeover speculation surrounding South African Breweries. Belgian group Interbrew has shown an interest in SAB, which put the spotlight on S&N, as the UK firm has been seen in the past as a possible partner for SAB. Apart from hopes of any comment on consolidation, the City is expecting the group to report flat half-year profits on Tuesday of £240m against £241m, as a result of disposals undertaken in the past year, including Centre Parcs, Pontins and around 700 pubs.

Carlton Communications, along with rival ITV broadcaster Granada, has suffered one of the worst years in recent history for advertising revenues, and analysts will be keen for the group's outlook for next year when it reports full year figures on Tuesday. Overall, revenues are forecast to fall 24% on the previous year, largely because of the sale of film printer and DVD maker Technicolor, fund manager Gerrard said. Pre-tax losses - including spending and interest payments relating to ITV Digital and ITV Sport - are forecast at £79m, against a profit of £101m.

The performance of Severn Trent's non-regulated businesses will be in the City spotlight on Tuesday, as investors analyse its waste management and services arms. The divisions are forecast to account for only 20% of operating profits but are important to the group's earnings growth prospects. Its core regulated water and waste water business, which accounts for the bulk of profits, is forecast to report flat operating profits, Gerrard said. Overall, the group is expected to show pre-tax profits of £116m, up from £112.8m last time.