Business and City Summary

Confidence up among managers

Confidence is rising among Britain's sales and marketing managers, according to a survey which reports that they expect to hit their sales targets for the year.

The Chartered Institute of Marketing says that although inflationary pressures are higher than last year, 88 per cent of those surveyed expect to keep price increases below 5 per cent.

Qantas profits

Australia's Qantas Airways expects improved profits ahead of its Adollars 2bn ( pounds 963.25m) float, as a result of marketing innovations announced last week, managing director James Strong said.

'I believe that what we are doing at the moment will be one of the factors that contribute to better profitability,' he said. Qantas, 25 per cent owned by British Airways, will be floated in the first half of 1995 through the public sale of the Australian government's 75 per cent stake.

Compel flotation

Compel, which supplies PC and Unix computer systems to customers such as Black & Decker, BNFL and Legal & General, is to float in September. The issue is expected to value the company at about pounds 25m, of which about pounds 4.5m will be new money raised by the company.

Union check-offs

More than 80 per cent of employers will continue to operate a check-off system for union subscriptions despite recent changes in the law, says a survey by the Institute of Manpower Studies.

Carpet earnings

Iran earned dollars 1.44bn in the year to last March from the export of carpets, about 42 per cent of non-oil exports, according to the country's commerce department.

TODAY 22.8.94

GDP (Q2) final, national accounts advance annual estimates (1993), balance of payments advance annual estimates (1993).

Interims: Fidelity European Values, Hibernian Group, MTM.

Finals: Aerospace Engineering, Coventry Building Society.

TOMORROW 23.8.94

Capital expenditure (Q2, prov) Stocks and work in progress (Q2, prov).

Interims: Friendly Hotels, Graseby, Kerry Group, Murray Intnl Trust, Scottish Eastern Inv, Thorn EMI, Wace Group.

Finals: Eaglet Investment Trust.

WEDNESDAY 24.8.94

Interims: S Daniels, Dunedin Income Growth IT, EFT Group, Gartmore, Gibbs & Dandy, Invesco, Jos Holdings, Latin American IT, M&G Income Inv Tst (2ID), M&G Recovery Inv Tst (1ID), Marley, Mersey Docks and Harbour, Mayflower Corp, Monument Oil & Gas, Parity, Senior Engineering Group, Slough Estates, Telegraph, Victaulic.

Finals: Farringford, W H Smith, Throgmorton 1000.

THURSDAY 25.8.94

Engineering sales and orders (June). New vehicle registrations (July).

Interims: Bridon, British Asset Trust (3Q), Delaney Group, Graham Group, Guardian Royal Exchange, Hambro Countrywide, Life Sciences Intl, Quicks Group, Rentokil Group, Scottish Inv Trust (Q3), Shorco Group, Weir Group, Willis Corroon Group (3ID).

Finals: News International, Roxspur, Select Industries, Welsh Industrial Inv Tst.

FRIDAY 26.8.94

CBI monthly trends survey (Aug). Main British banking groups' mortgage lending (Jul). US: GDP (Q2 provisional), import/export prices (July).

Interims Baillie Gifford Shin, Baldwin, Fleming Claverhouse, Pegasus Group, Sunleigh.

Finals: New London.