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Compare The Accounts Of Two Major Supermarkets

3287 words - 13 pages

Introduction to ReportThe attached report will analyse and compare the financial status of two UK supermarkets, Morrisons plc and Somerfield plc, for a potential investor who wishes to become a minor shareholder in one of the two company's. To perform this investigation the 2002 financial accounts of both company's have been used, this information will also include the financial data from the 2001 period, for further comparison between years. Please note the following points ~a, For both company's the period for 2002, includes 52 weeks trading and the period for 2001, includes 53 weeks trading. No alteration for this difference has been undertaken, as both company's have the same discrepancy and to alter the figures would only result in minor alterations and no significant changes to the conclusions made in the report.b, As each set of financial accounts is shown in different formats between the two companies, with the various components and values represented at different stages and headings. I have re-structured the profit & loss accounts and the balance sheets for the two company's. So that the relevant information is shown in a standard, Profit & Loss Account and Balance Sheet, therefore making comparisons between the two company's easier and more beneficial. Where this has not be possible and potential conflicts of interest have occurred, these limitations to the analysis have been noted and described in the report text.c, The writer of the report has no link to either company, through employment or otherwise.Company DescriptionW.m. Morrisons Supermarkets plc operates 113 Morrisons supermarket stores ( 4,039 thousand sq.ft ) throughout the United Kingdom. The Company's supermarkets sell groceries, fresh and frozen foods, home and leisure products, music and video, health and beauty products. It offers over 20,000 different products under its own or other brand namesSomerfield plc. The Groups principal activity is food retailing in the United Kingdom. The Group operates 1306 stores ( 10,963 thousand sq. ft ) with over 6,000 own label products, more than 65 fresh organic lines and over 300 organic products. Own label brand ranges include taste of Orient, Part, So Good, Good Intentions and Basics. Other activities include property holding, concessions management, insurance and merchant services.Sales AnalysisMorrisons, turnover as stated in the " Chairman's Statement " has continued to increase since the company went public in 1967, this being backed by the figures shown in the six year summary. In 2002 turnover stood at 918.3 million, which on average relates to .7 million per store ( 0 per store sq ft ), this being an increase of 11.9% on the previous year.Although Somerfield plc had a higher turnover of 640.5 million in 2002, this however only equates to average sales of 6 million per store ( 3 per store sq ft ), which is significantly less than the Morrisons average sales per store figure. This representing a very small increase of...

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