City awaits raft of corporate results

London traders will return from Britain's long weekend to a relatively packed week of results, including updates from Psion, Schroders and betting-to-hotels group Hilton.

Anglo-Dutch software and computer services group CMG has seen its shares suffer along with the rest of the tech sector of late.

The group issued a warning in April on performance at its wireless data solutions (WDS) division, although it said in May it expected a better performance from the division over the second half of the year.

The City will be keen for an update on WDS when CMG reports half-year figures on Wednesday, as although only a small contributor to revenues, the business has a more significant impact on CMG's growth rate. Pre-tax profits are forecast at £12.5m, down from £50.9m, said broker Gerrard.

Handheld computer group Psion announced in July its decision to quit the increasingly tough handheld organiser market.

It said at the time the decision would see it take a £29m restructuring charge, including £3m related to 250 job cuts, and analysts say the group is expected to report a half-year pre-tax loss of £16.5m on Wednesday against a £3m profit for the same period a year earlier.

Despite a positive first-quarter trading statement, Hilton Group's subsequent performance will have been hit by the impact of the US economic slowdown and the foot-and-mouth outbreak on its hotels.

However, pre-tax profits on Thursday should still be 10% higher than last year's at £120m after an improved showing from its betting division, which was helped by better weather and fewer race cancellations.

Fund manager Schroders will show the impact of slowing world stock markets on Friday when it reports figures for the half-year.

Profits are expected to have fallen from almost £164m a year earlier to a mere £43.5m - reflecting a £15bn reduction in funds under management to £118bn.