This week sees a pick-up in the rate of UK corporate results with housebuilder Persimmon kicking-off the majors followed by figures from blue chips Rentokil Initial and InterContinental Hotels.

With Persimmon delivering a positive trading statement in June, much of the focus will be on the impact of the recent rise in interest rates when it posts its first half results tomorrow.

The Bank of England lifted interest rates for the first time in two years earlier this month and the indications are that a further rise may follow before the end of the year.

The higher cost of borrowing could cool the housing market but it will not affect Persimmon's first half which it has said saw like-for-like sales increase seven per cent and average selling prices hit £188,000.

The group completed the acquisition of rival Westbury in January for £643 million, a deal which it said boosted turnover at Persimmon's South Midlands region, based in Studley.

However in June the company also said margins had been affected by the Westbury acquisition, but it pointed out that it expected an improvement over coming months.

Persimmon Homes West Midlands is based in Wolverhampton. Developments in the region also include the Cape Hill brewery site in Smethwick which will see almost 1,000 new homes.

Hargreaves Lansdown analyst Keith Bowman said: "Likely good results aside, some element of caution may have crept into the management's outlook statement given the recent increase in UK interest rates." Analysts will also look for an update on cost savings following the acquisition of Westbury.

Investors in InterContinental Hotels - which owns the which owns the Crowne Plaza and Holiday Inn brands - will be eager to know if they are in line for a windfall after the company last month agreed to sell seven hotels in Europe for £440 million and lease them back.

The sale was part of the firm's strategy to concentrate on management contracts following its separation from the Six Continents group in April 2003.

There will also be interest in the strength of the market in the US, where InterContinental makes most of its money.

Instore radio firm Immedia could cheer the market when it posts its interim results Wednesday if it unveils new contracts to add to existing deals with Lloyds Pharmacy, HSBC and Ikea.

Analyst James Hollins, of stockbrokers Daniel Stewart & Company, said: "We are confident that the management should announce new contracts during the remainder of the year."

The focus will switch to bookmaker Ladbrokes on Thursday when it announces its first set of results since the company changed its name from Hilton Group earlier this year. This followed the sale of the hotel brand to its USbased sister company.

As such, there are a number of unknowns.

David Liston, analyst at Barclays Stockbrokers, said the most meaningful comparison will be at the operating level where he expects profits to have risen by ten per cent to £160 million.

Troubled pest control specialist Rentokil Initial will report half-year results on Thursday and investors will be looking to see if there has been any progress in its turnaround programme.

In May the group posted organic growth of 4.3 per cent and a nine per cent rise in group revenues £535.1 million.

But the sales increase failed to prevent a 22 per cent slump in first quarter pre-tax profits to £44 million as it paid the price for a series of one-off costs and planned investments.