Doctoral Assignment options

Doctoral Assignment options - Exercise Compute some...

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Exercise Compute some appropriate liquidity, profitability, asset efficiency and capital structure ratios over the years and comment Assuming the WACC is 8% p.a. compute the annual EVA for the company and comment Tesco PLC All amounts in £m unless otherwise indicated 1997 1998 1999 2000 2001 SUMMARY PROFIT AND LOSS ACCOUNT Sales at net selling prices 14,984 17,779 18,546 20,358 22,773 Turnover including share of joint ventures 13,887 16,452 17,158 18,796 20,988 Less: share of joint ventures’ turnover 0 0 0 0 0 Group turnover excluding value added tax 13,887 16,452 17,158 18,796 20,988 Normal operating expenses (13,081) (15,505) (16,155) (17,712) (19,770) Employee profit-sharing (32) (35) (38) (41) (44) Integration costs 0 (95) (26) (6) 0 Goodwill amortisation 0 0 (5) (7) (8) Operating profit 774 817 934 1,030 1,166 Profit from joint ventures and associates 0 (15) 6 11 21 Net loss on disposal of fixed assets 0 (8) (8) (9) (8) Interest (24) (65) (90) (99) (125) Profit before tax 750 729 842 933 1,054 Tax (230) (223) (237) (259) (288) Minority interests 0 0 1 0 1 Profit for the financial year 520 506 606 674 767 Dividends (225) (255) (277) (302) (340) Retained profit 295 251 329 372 427 Diluted earnings per share (p) 7.83 8.87 9.37 10.18 11.31 Dividend per share (p) 3.45 3.87 4.12 4.48 4.98 SUMMARY CASH FLOW STATEMENT Cash from operations
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Doctoral Assignment options - Exercise Compute some...

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