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Financial Report On The Strategy Of Zotefoams

2038 words - 9 pages

The strategy of Zotefoams refer to the expansion through new customers for MuCell extrusion technology licensing business, partnerships or acquisitions in related technologies, products or markets and a combination of profitable organic growth of Polyolefin and HPP foams businesses. There are four key objectives of Zotefoams that explain the strategy’s core elements.

• Grow – Grow sales in their polyolefin business. Sales growth in polyolefin foams grew by 8 percent in constant currency and exceeded twice the average rate of GDP growth. Company want to increase sales in excess of twice GDP growth through support customers in new application and product innovation.
• Develop – Develop a HPP portfolio and MEL customer base to deliver increased margins. HPP sales increased by 51 percent to 3.60 million. Company see potential to increase margins and high profit in HPP portfolio so they tend to further invest in markets, products and technology from these high growth opportunities.
• Improve – Improve their return on capital employed. Pre-tax return on capital employed (ROCE) rose to 20.8 percent in 2012. ROCE is a suitable benchmark for them because a result of lower of ROCE might occur in each year and the longer term shareholders expect a return over their risk.
• Profit – Increase their operating margins. Group operating margins grew to 12.8 percent of sales. The polyolefin foams margins and HPP business were increased whereas the increased investment of MEL was loss. Therefore, they want to achieve in operating margins.

However, they plan to keep on the same four key objectives of business, although the high levels of capital expenditure planned will impact the return on capital employed. Moreover, they extend the site of Croydon, United Kingdom to encourage the development in future of HPP foams and Polyolefin. In addition, because of foam is bulky, the cost of transport are high. They will reduce cost if the manufacturing is near the point of use. Therefore, they intend to invest in Asia to support the market.

Accounting Methods

Zotefoams Company is a firm incorporated in United Kingdom. They separated the financial statements into two sets. Those are the consolidated financial statements and the company financial statements. The Directors who prepared and approved both of financial statements are adopted from an agreement with International Financial Reporting Standards (IFRS). Directors will evaluate an important risk of material adjustment in the next year and consider the application of accounting policies. They also adopt the going concern basic to create the annual financial statements. However, Zotefoams Company gets the benefits of the exemption of the Companies Act 2006. They do not need to present their Income Statement and related notes if they do not satisfy.

Interpretation of technical analysis

Horizontal and Vertical Balance sheet Statement

According to a Horizontal analysis of Balance sheet Statement of company,...

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