{"id":32447,"date":"2026-08-02T21:19:50","date_gmt":"2026-08-02T21:19:50","guid":{"rendered":"https:\/\/microvibenews.com\/?p=32447"},"modified":"2026-08-02T21:19:50","modified_gmt":"2026-08-02T21:19:50","slug":"sir-dave-updates-on-diageo-plan-bp-declares-interims-daily-business","status":"publish","type":"post","link":"https:\/\/microvibenews.com\/?p=32447","title":{"rendered":"Sir Dave updates on Diageo plan, BP declares interims \u2013 Daily Business"},"content":{"rendered":"

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\"Johnnie-Walker-Princes\"Johnnie-Walker-Princes
Johnnie Walker owner Diageo is seeking a turnaround in its fortunes (pic: DB Media Services)<\/em><\/figcaption><\/figure>\n

Sir Dave Lewis will be hoping City analysts toast his turnaround plans with a dram of Johnnie Walker after they attend the Diageo\u2019s chief update.<\/p>\n

The board hired the former Tesco boss in January to claw back declining revenue and share value.<\/p>\n

Sir Dave and Diageo are facing a global decline in sales but the markets are looking to a \u201ctransition year\u201d in 2027 and the chief executive is expted to deliver it.<\/p>\n

UBS says investors want nothing less than \u201ca short-term profit and margin reset\u201d after seeing shares in the company halve in value over the past five years.<\/p>\n

Slowing growth in key markets such as the United States and changes in drinking patterns are among the factors blamed for the slump.<\/p>\n

Sir Dave\u2019s presentation to investors and analysts on Thursday is expected to focus on categories, rather than the group\u2019s 200+ individual brands which include Guinness and Gordon\u2019s gin.<\/p>\n

BP<\/strong><\/p>\n

On Tuesday all eyes will be on BP\u2019s half-year results following its momentous decision to pull out of the North Sea. <\/p>\n

The British oil major expects to benefit from rising oil prices and higher refining margins in the second quarter despite a drop in upstream production related to the Iran war.<\/p>\n

CEO Meg O\u2019Neill\u2019s \u2018back to basics\u2019 approach will be in focus as BP looks to simplify operations and tighten financial discipline.<\/p>\n

With share buybacks suspended, O\u2019Neill is pursuing a $20 billion disposal programme aimed at deleveraging the balance sheet by the end of 2027.<\/p>\n

First half capital expenditure levels will show whether BP\u2019s capital discipline is holding. The resumption of share buybacks will likely be conditional on prevailing oil prices.<\/p>\n

HSBC<\/strong><\/p>\n

With the shares trading close to all-time highs and management raising net interest income guidance twice in 2026, the bar is high for earnings to come in higher than expected, say AJ Bell analysts Russ Mould\u00a0and\u00a0Danni Hewson.<\/p>\n

They note that Standard Chartered recently reported surprisingly good cost discipline, which raises the stakes for HSBC to deliver on its own targeted annual savings programme.<\/p>\n

DIARY<\/u><\/strong><\/p>\n

Monday 3 August<\/strong><\/p>\n

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  • In the US, second quarter results from\u00a0Berkshire Hathaway<\/strong><\/li>\n<\/ul>\n

    Tuesday 4 August<\/strong><\/p>\n

      \n
    • Half-year results from\u00a0BP, HSBC, Smith & Nephew\u00a0<\/strong>and\u00a0Convatec<\/strong><\/li>\n
    • In the US, quarterly results from\u00a0SpaceX, AMD\u00a0<\/strong>and\u00a0Pfizer<\/strong><\/li>\n<\/ul>\n

      Wednesday 5 August<\/strong><\/p>\n

        \n
      • Half-year results from\u00a0Legal & General, Glencore, Zotefoams\u00a0<\/strong>and\u00a0Coca-Cola HBC<\/strong><\/li>\n<\/ul>\n

        Thursday 6 August<\/strong><\/p>\n

          \n
        • Half-year results from\u00a0Tritax Big Box, Harbour Energy, Serco, WPP\u00a0<\/strong>and\u00a0Michael Page<\/strong><\/li>\n
        • Full-year results from\u00a0PZ Cussons<\/strong><\/li>\n
        • Capital markets day at Diageo<\/strong><\/li>\n<\/ul>\n

          Friday 7 August<\/strong><\/p>\n

          \t <\/div>\n