Scott Reid: Big hitters set to reveal how Scotland plc fared in 2010

A STRING of Scottish corporate heavyweights will update investors on the past year's performance this week, including Weir Group, Aggreko, Standard Life and Johnston Press, owner of The Scotsman.

Engineering firm Weir is likely to have benefited from robust business in a number of geographic areas, including North and South America and China, when it posts stronger full-year profits tomorrow. Adjusted pre-tax profit is expected to have risen by more than 100 million to some 300m.

The City is looking for Aggreko, the generator hire specialist, to highlight a 25 per cent hike in its full-year pre-tax profit to about 305m as demand from developing countries remains strong. The increase is unlikely to be as high in the current year given the lack of major events - 2010 saw a boost from both the World Cup and Winter Olympics.

Standard Life's results on Thursday are forecast to show an 11 per cent fall in operating profits to 355m, from 399m in the previous year. In its half-year results, the Edinburgh-based life and pensions stalwart reported a 5 per cent decrease in UK profits due to lower volumes of annuity business and increased costs relating to investment in new areas of business.

The group is expected to cheer investors with a near-5 per cent increase in its final dividend. However, Andrew Crean, an analyst at Autonomous, said Standard Life would continue to underperform in the UK.

He said: "Standard Life has chosen to compete mainly in the retail savings and retail and corporate pensions market within the UK, an area where margins are relatively slim and competition considerable.

"We worry that the investment required to build and sustain scale in a rapidly changing market place will be sizeable in relation to the overall profit opportunity."

Newspaper publisher Johnston Press is set to announce robust figures when it releases its annual results on Wednesday.

The retail sector will be in sharp focus a day later with supermarket giant Morrisons tipped to post an increase in pre-tax profits despite a year when competition in the sector has been intense.

Analyst forecasts show a 12 per cent hike in full-year pre-tax profits to 861m for the year to 31 January, up from 767m the previous year.

The UK's fourth biggest grocery chain defied the Arctic conditions over Christmas and beat City expectations by posting 1 per cent like-for-like sales growth, excluding fuel and VAT.

Chief executive Dalton Philips said the company had risen to the "twin challenges" of a difficult consumer environment and a prolonged spell of adverse weather.

Pub chain JD Wetherspoon will reveal how far its profits have been affected by the rising cost of food and drink on Friday.

The chain, which operates nearly 800 outlets, saw like-for-like sales rise 2.3 per cent in the six months to the end of January as its low prices proved a draw to customers.But it recently admitted its profit margins have come under pressure as it struggles to pass on cost hikes in the face of increasing competition.

Restaurant Group, owner of Chiquito, Garfunkel's and Frankie & Benny's, is expected to report an 11 per cent rise in profits on Wednesday despite a decline in like-for-like sales at its restaurants. Analysts predict pre-tax profits of 55.6m, lifted by efficiency savings and new eatery openings.