Body Shop - Introduction "The Body Shop International...

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Introduction Page 1 "The Body Shop International Plc: 2001" (Case 8) Please note: Copyright © 2001 by the Trustees of the University of Virginia Darden School Foundation. Revised March 7, 2006. 1) This is a working model. Assumptions / Inputs presented can be changed to vary the results. 2) This model intentionally incorporates circular logic. To resolve this circularity, please instruct Excel to iterate 20-30 times in recalculating the model. This is achieved by clicking on Tools/Options/Calculation, and on the iteration button. 3) As long as default spreadsheet calculation is "automatic" the impact of changing assumptions will be computed in real time. If calculation is set as "manual" you should press the F9 function key to recalculate results. To set numerical calculation settings to automatic look under tools, options, calculations menu.
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Exhibit TN1 The Body Shop Plc 2001: Hypothetical Three-Year Forecast Worksheet, Drawing on Case Exhibit 8 Fiscal Year Ended February 28 Assumptions Forecast 1999 1999 2000 2000 2001 2001 (GBP) (% sales) (GBP) (% sales) (GBP) (% sales) 2002–2004 2002 2003 2004 Income Statement Turnover 303.7 100.0 330.1 100.0 374.1 100.0 9% 13% Cost of sales 127.7 42.0 130.9 39.7 149.0 39.8 3% 14% Gross profit 176.0 58.0 199.2 60.3 225.1 60.2 Operating expenses –excluding exceptional costs 151.4 49.9 166.2 50.3 195.7 52.3 –exceptional costs 4.5 1.5 0.0 0.0 11.2 3.0 Restructuring costs 16.6 5.5 2.7 0.8 1.0 0.3 Net interest expense 0.1 0.0 1.5 0.5 4.4 1.2 Profit before tax 3.4 1.1 28.8 8.7 12.8 3.4 Tax expense 8.0 2.6 10.4 3.2 3.5 0.9 Profit/(loss) after tax (4.6) (1.5) 18.4 5.6 9.3 2.5 Ordinary dividends 10.9 3.6 10.9 3.3 10.9 2.9 Profit/(loss) retained (15.5) (5.1) 7.5 2.3 (1.6) (0.4) Fiscal Year Ended February 28 1999 1999 2000 2000 2001 2001 Balance Sheet (GBP) (% sales) (GBP) (% sales) (GBP) (% sales) 2002 2003 2004 Assets Cash 34.0 11.2 19.2 5.8 13.7 3.7 Accounts receivable 27.8 9.2 30.3 9.2 30.3 8.1 Inventories 38.6 12.7 44.7 13.5 51.3 13.7 Other current assets 12.5 4.1 15.6 4.7 17.5 4.7 Net fixed assets 87.8 28.9 104.7 31.7 110.6 29.6 Other assets 0.0 0.0 6.0 1.8 6.7 1.8 Total assets 200.7 66.1 220.5 66.8 230.1 61.5 Liabilities and equity Accounts payable 13.0 4.3 20.5 6.2 10.7 2.9 Taxes payable 11.3 3.7 11.7 3.5 7.1 1.9 Accruals 10.8 3.6 15.6 4.7 11.5 3.1 Overdrafts 0.0 0.0 0.3 0.1 0.7 0.2 Other current liabilities 21.6 7.1 13.3 4.0 16.9 4.5 Long-term liabilities 28.0 9.2 36.7 11.1 61.2 16.4 Other liabilities 1.7 0.6 1.0 0.3 0.4 0.1 Shareholders' equity 114.3 37.6 121.4 36.8 121.6 32.5 Total liabilities and equity 200.7 66.1 220.5 66.8 230.1 61.5
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Exhibit TN2 Page 3 Exhibit TN1 The Body Shop International Plc 2001: Hypothetical Three-Year Forecast, Drawing on Case Exhibit 8 Fiscal Year Ended February 28
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This note was uploaded on 11/22/2011 for the course BUS 306 taught by Professor Anhnamsung during the Spring '11 term at Solano Community College.

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Body Shop - Introduction "The Body Shop International...

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