"It's not going to be terrible, but it is looking pretty flat. There will be some small growth in some companies."
The results would reflect an economy that was not growing as quickly as expected and some of the companies would have been affected by flat retail sales during the first half of the year, he said.
ING Medical Properties and Mainfreight were expected to be the pick of the bunch, Mr Conroy said.
ING should show solid growth in normalised earnings, reflecting the leasing of vacant space, inflation-adjusted rent reviews and lower interest and tax.
Mainfreight had gained more market share and was achieving strong profit growth.
Today, Freightways was expected to announce that volume growth was at a standstill because of the soft retail sector and the soft outlook reflected in the recent earnings downgrade, he said.
Tomorrow, the NZX profit would reflect delays in the clearing and settlement system launch and a softer listing and trading outlook.
Downgrades were likely.
Sky City would report a flat operating performance, with sluggish Auckland gaming offset by international business growth and modest gains from Australia.
Fletcher Building on Wednesday would report a subdued second half and deteriorating outlook for non-residential construction, Mr Conroy said.
Port of Tauranga was expected to show profit growth, reflecting continued strength in log-related exports.
Friday would be a busy day, with Sky TV, Telecom, Cavalier Carpets, Contact Energy and Michael Hill International due to report, he said.
Sky's profit improvement was under way; Cavalier had significant operating leverage, with a recovery in carpet demand expected over the latter part of 2011 and 2012; and Michael Hill's comments might be cautions.
For Telecom, the full-year result had been recently upgraded and there was little potential for surprises, Mr Conroy said.
"This is the end of another difficult year for Contact. Strong hydro conditions have suppressed electricity prices and led to Contact not taking all of its paid-for gas. A dividend cut is possible.
"As you can see from the expected results, a fairly subdued reporting week is expected," he said.
