Jefferson Smurfit is likely to report only a marginal rise in pre-tax profits when it reports annual figures tomorrow. Overcapacity in the sector and the consequent downward pressure on prices should see the group report profits in the region of €190E200 million (£150£157.5 million) compared to €190.7 million last year.
Worse still, analysts expect the continuing tough market conditions - which have spilt over from the second half of last year following the Asian crisis - to halve earnings per share in the current trading year before a recovery in the millennium year.
Monday
Results: Bond International, CGU (Q1), Charles Schwab (Q1), Mattel (Q1), McInerney, Riva Group, Software, Servomex, Wardle Storeys (H1).
A.G.M.: Adare Printing (e.g.m.), Goodyear.
Meetings: European Parliament holds plenary session including debate and vote on former Italian prime minister Romano Prodi as the new European Commission President (Strasbourg to Fri); Internet World expo (Los Angeles).
Indicators: Japanese industrial production (Feb), trade (Feb) and current account (Feb); German industrial production (Jan/Feb); French consumer prices (Mar).
Others: Mr Hans Eichel officially appointed as new German Finance Minister by President Roman Herzog; Foresight, Business Studies Group, Journal gets up and running.
Tuesday
Results: AlliedSignal (Q1), Automotive Precision Holdings, Dalkeith Inns, Gartmore British Inc. (H1), Intel Corp (Q1), Jefferson Smurfit, London & St Lawrence Inv (H1), Merrill Lynch (Q1), Motorola (Q1), Rugby Estates, Tesco, Xpertise Group.
Meetings: Seminar on pen-European Telecommunications (Jurys Hotel to Thurs)
Indicators: Irish consumer prices (Mar); US consumer prices (Mar), retail sales (Mar) real earnings (Mar) and Atlanta Federal Index (Mar); French purchasing managers' index (Mar).
Others: Comms 99 exhibition (RDS, Dublin)
Wednesday
Results: AMD (Q1), Continental, Co-operative Bank, Iona Technologies (Q1), Irish Interconti- nental Bank, Investor (Q1), Mannesmann, Pressac (H1), Tellabs (Q1).
A.G.M.: Caterpillar, Investor, Lloyds TSB.
Meetings: ISME national council meets; European Union leaders meet to discuss European Commission reforms to be proposed by President-designate Romano Prodi (Brussels); The Financial Stability Forum, a new group of senior financial officials set up to improve information flows and co-ordination between the world's major financial powers, meets for the first time (Washington).
Indicators: EU exports (Jan); British Treasury publishes new independent forecasts for the British economy; US business inventories (Feb).
Others: World Bank President Mr James Wolfensohn due to visit Moscow for talks with Prime Minister Mr Yevgeny Primakov, other government
officials and business leaders; Swedish budget for 1999/2001 presented; British Lord Chancellor, Lord Irvine of Laing, delivers fourth annual RTE/UCD lecture entitled "Broadcasting, Society and the Law".
Thursday
Results: Laura Ashley, Ciba (Q1), Delta Air (Q3), Ford (Q3), General Motors (Q3), Merck, Polydoc, Roche (Q1), Seascope Shipping Holdings, Sun Microsystems (Q3).
A.G.M.: BP Amoco, Irish Permanent, Woolwich.
Meetings: Bundesbank council meets and publishes annual report; NCB Irish Equity conference (Radisson Hotel, Dublin to Fri).
Indicators: Irish industrial production (Feb); British Chambers of Commerce quarterly economic survey; US Philadelphia Federal Survey (Apr); German wholesale prices (Mar); French current account (Jan); Italian industrial production (Feb).
Others: Information Society Commission produces second annual report; National Innovation Awards 1999 launch.
Friday
Results: ARM Holdings (Q1), Barclays Caterpillar (Q1), Global Inv (H1), Clariant, Grundig, Saltire.
A.G.M.: Tomkins (e.g.m.).
Meetings: European Union finance ministers hold informal meeting (Dresden to Sun).
Indicators: US capacity utilisation (Mar), industrial production (Mar), housing permits (Mar) and housing starts (Mar)
Others: Shirtmaker Clubman Omega opens new operation in Buncrana; Irish Pharmaceutical & Chemical Manufacturers Federation publishes survey on economic impact on the sector.
