Task1– MM Ltd
MM Ltd has been operating for several years. The following are summaries of the company’s statements of comprehensive income and financial position for the previous three years:
Summarized Statements of comprehensive income for the year ended 31 December
2015 2014 2013
£m £m £m
Revenue 913 981 840
Cost of sales 590 645 554
Gross profit 323 336 286
Operating expenses 219 214 186
Profit from operations 104 122 100
Finance costs 19 15 6
Profit before tax 85 107 94
Taxation 45 52 45
Profit for the year 40 55 49
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Dividends 24 24 24
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Summarized Statements of financial position as at 31 December
2015 2014 2013
£m £m £m
Assets
Non-curent assets
Intangible assets 48 40 36
Property, plant and equipment (net) 216 206 176
264 246 212
Current asset
Inventories 294 303 237
Receivables 160 141 105
Bank 52 58 52
770 748 606
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Equity and liabilities
Equity
Ordinary share capital 100 100 100
Retained earnings 346 330 299
446 430 399
Non-current liabilities
Long-term loans 138 138 74
Current liabilities
Trade payables 75 75 53
Other payables 111 105 80
770 748 606
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Assume that the index of retail prices has remained constant between 2013 and 2015.
Required: Analyse the performance of MM Ltd in terms of its profitability and working capital management.
Task1 – Baker Plc and Grant Plc
Analyse the performance of Baker Plc and Grant Plc in terms of the ratios shown below:
Baker Plc Grant Plc
ROCE
Earnings per share 22 pence 24 pence
Price/earnings ratio
Current ratio
Liquid ratio
Payables turnover days days
Capital gearing
Dividend yield
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