Financial Information Morrison's Essay

1367 words - 5 pages

Question 1:Wm Morrison Supermarkets plc is a supermarket chain with 439 superstores around the United Kingdom. Morrison's, as a grocery retailing business, they are focused on offering groceries and home wares to their customers and some electronics, clothing and furnishings can also be found in their stores. It is a supermarket that offers a range of goods including both branded and label products. The company's aim is to provide all its clients the best quality products for the less money wherever they live.Question 2:The auditor's report of Chris Hearld for Morrison's, explains that all their financial statements have been properly prepared in accordance with what is legally required. This report is just an opinion on whether the information is correct and free from material misstatements, whereas all the other purposes in using them are users' decisions.Question 3:
Ratio

Expression

2011

2010

2011 Result

2010 Result

Industry Average

ROE

Net Income x100 Shareholder equity

632 x100 5420

598 x100 4949

11.7%

12.1%

19%

Gross profit margin

Gross profit x100 turnover

1148 x100
16479

1062 x100
15410

7%

6.9%

10%

Net profit margin

Net profit x 100 turnover

632 x100 16479

598 x100 15410

3.8%

3.9%

3%

Current ratio

Current assets Current liabilities

1138 2086

1092 2152

0.5

0.5

1.7

Inventory turnover period

Inventories x 365 Cost of sales

638 x 365 15331

577 x 365 14348

15.2 days

14.7 days

50 days

Payables' turnover period

Trade payables x365 Cost of sales

268 x 365 15331

199 x 365 14348

6.4 days

5 days

20 days

Gearing ratio

Long term liabilities Capital employed

1643 x100 7063

1659 x100 6608

23%

25%

4%

P/E ratio

Share price Earnings per share

2.70 0.24

2.48 0.23

11.3 x

10.8 x

9.0 x

1455 words Takis Panagiotis Dontis-CharitosQuestion 4:a) (16479 x 100) / 15410 = 106.9 + 6.9%b) (904 x 100) / 907 = 99.7 - 0.3%c) (23.93 x 100) / 22.80 = 105 + 5 %Question 5:The ROE is a ratio that shows the capacity of a company in generating profit for shareholders' equity and how well a company uses its investment funds. From 2010 to 2011, Morrison's has a ROE decrease of 0.4%. That happened because there was an increase in the shareholders' equity and a small growth of net income in 2011. However, the results are not really good comparing to the industry average of 19%, showing that the competition is performing better. To have an acceptable ROE percentage a company should target a minimum of 15%, so Morrison's should concentrate and make some urgent management decisions in order to overcome this problem.The gross profit margin ratio in both years is beyond the industry average. In spite of that, Morrison's showed a short growth of 0.1% from 2010 to 2011, this change might happen because they increased their purchase prices. Though, these results prove that something has to be done to face this strong market competition. The company should continue to...

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