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Germany confirms the economy shrank 0.2 percent decline in the first quarter which now means it is now in recession.

Royal & Sun Alliance posted a 15 million pound increase in its first quarter profits to 175 million pounds on Thursday putting it into profit., ahead of most analysts' expectation

Tomkins met forecasts for first-quarter profit on Thursday but it was lower than last year due to the weakness of the dollar.The operating profit of 67.4 million pounds was down from 71.4 million pounds for the same quarter last year.

BT reported a rise in profit to the upper end of forecasts and a 6.3 billion pound gap in its pension fund under new FRS17 accounting standards.Profit rose 44 percent to 1.829 billion pounds in the year to the end of March, compared with analysts' forecasts running from 1.784 billion to 1.835 billion pounds. Revenue rose two percent to 18.727 billion pounds, in line with forecasts.

Burberry reporting its first set of annual results bang in line with market forecasts. Earnings rose 29 percent to116.7 million pounds, while pretax profits rose to 110.3 million pounds and he company proposed a dividend of two pence per share. BUT they said fears about the deadly SARS virus in Asia and world political troubles had begun to hurt its retail performance, particularly in Hong Kong and at home. British water and electricity provider United Utilities reported a slight rise in annual profit that was at the top end of forecasts, and gave an upbeat outlook.

Celltech Group Britain's biggest biotech firm said its business performed well in the first four months of 2003 and it was comfortable with market expectations for the year.

GWR Group british radio said on Thursday its profit for the year to March 31 rose more than 11 percent after restructuring its operations and shedding loss-making units. Turnover fell slightly to 127.1 million pounds from 128.4 million pounds in the prior year.

Calendar All GMT	United Kingdom (F)inals (I)nterim	United States (Click Flag)	Europe & World
Thu 22nd May             AGM	BPB (F), Burberry (F), Land Securities (F) Royal & Sun Alliance (Q1), InterContinental Hotels (I) Mitchells & Butler (I), Royal & Sun Alliance  - Q1, BT (F), Findel(F) Kingston Communications(F), Pillar Property (I) Scottish & Southern (F), United Utilities (F) Uniq(F), Merrydown, Celsis International, Genus Brake Brothers, Informa Group, Marshalls, Michael Page Group Yule & Catto Company, Alfred McAlpine Alliance Unichem, Amlin, Geest, ICI, Meggit, Michael Page Group, Novar, Tomkins, Yule & Catto Company Retail sales April CBI Industrial Trends May RICS House Price Survey	8:30 AM EST Initial Claims
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