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Essay / Research Paper Abstract
This 13 page paper examines at a set of annual accounts supplied by the student and looks at the profitability, the working capital utilisation, the liquidity, the gearing and capital structure, the cash flow and the stock market indicators. Ratio are calculated and all calculations are shown. The bibliography cites 2 sources.
Page Count:
13 pages (~225 words per page)
File: TS14_TEexmouth.rtf
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Unformatted sample text from the term paper:
This will mean looking at aspects such as profitability, efficiency, liquidity, the gearing and capital structure, cash flow and the way the stock market indicators. The case supplied
by the student for Exmouth plc has the accounts for 2003/4 which will be referred to as the year ending 2004 and for 2002/3 which will be referred to as
2003. It is worth noting that 2003 was a 53 week year, however as many of the ratios we will be considering are percentages this is unlikely to make material
difference. All figures are in million apart form the per share figures unless there s a specification otherwise. Looking at profitability there are several different profit measures all of
which give an indicating to operating cost. The first is the gross profit margin. The gross margin is expressed as a percentage. This is the level of revenue that remains
when all of the direct costs for producing the goods or services are deducted form the revenue. This indicates the level at which direct costs account take up revenue. The
gross profit for 2004 is 11.74%, this has fallen from 16.27%. This is calculated as follows 2004 2003 Income (a) 1,048.30 1,021.50 cost of sales (b) 925.2 855.3 Gross
profit (a - b) (c) 123.10 166.20 Gross profit margin (%) (c/a x 100) 11.74 16.27 This indicates a disproportionate increase in direct costs has been seen in 2004.
However, this is only one profit measure, there are other costs. We can also look at the operating profit. The operating profit margin is also expressed as a percentage. This
is the revenue after all direct and indirect costs have been deducted. A well as the direct materials, there are also the indirect costs such as wages and administration, these
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