Armillary-Private-Capital-Roce-Report
Return on Capital Employed
Review of the NZ Listed Sector
May 2012
Return on Capital Employed
Contents
1. Opening Comment 2. Executive Summary 3. Return on Capital Employed Explained 4. Discussion of Results 5. Background on Armillary Private Capital 6. Sources of Data Appendix 1 – Detailed Results 2 3 5 12 23 23 24
2012
Disclaimer
The information contained in this report has been prepared by Armillary Private Capital ('Armillary'). While the intention is to provide accurate information based on historical performance and market information, Armillary accepts no liability for any errors or inaccuracies in this report. The reader is advised to perform their own research to confirm the accuracy of the information contained in this report before relying on it for any investment decision making. This report has been prepared as a 'class service' as defined by the Financial Advisers Act and is general in nature.
Page | 1
Return on Capital Employed
1 Opening Comment
2012
Dear Reader We would personally like to thank you for taking the time to read this report. We, at Armillary Private Capital, trust it provides some insights into the performance of listed NZ companies and make you think about how you can apply the methodology used in your own business. The methodology we have used in this report was developed by Du Pont Corporation and therefore is not proprietary to us. As it is simple to apply, anyone who understands the methodology can use it. We regularly use this methodology as a tool in our client engagements and in our financial training curriculum. Useable benchmarks to compare businesses are difficult to find in NZ as there is no central database of information available about business performance in general. Accordingly we hope that this report can be used to assist with benchmarking and performance expectations. We are certain that some of the insights from this report will make you pause and think. We see this report and
Review of the NZ Listed Sector
May 2012
Return on Capital Employed
Contents
1. Opening Comment 2. Executive Summary 3. Return on Capital Employed Explained 4. Discussion of Results 5. Background on Armillary Private Capital 6. Sources of Data Appendix 1 – Detailed Results 2 3 5 12 23 23 24
2012
Disclaimer
The information contained in this report has been prepared by Armillary Private Capital ('Armillary'). While the intention is to provide accurate information based on historical performance and market information, Armillary accepts no liability for any errors or inaccuracies in this report. The reader is advised to perform their own research to confirm the accuracy of the information contained in this report before relying on it for any investment decision making. This report has been prepared as a 'class service' as defined by the Financial Advisers Act and is general in nature.
Page | 1
Return on Capital Employed
1 Opening Comment
2012
Dear Reader We would personally like to thank you for taking the time to read this report. We, at Armillary Private Capital, trust it provides some insights into the performance of listed NZ companies and make you think about how you can apply the methodology used in your own business. The methodology we have used in this report was developed by Du Pont Corporation and therefore is not proprietary to us. As it is simple to apply, anyone who understands the methodology can use it. We regularly use this methodology as a tool in our client engagements and in our financial training curriculum. Useable benchmarks to compare businesses are difficult to find in NZ as there is no central database of information available about business performance in general. Accordingly we hope that this report can be used to assist with benchmarking and performance expectations. We are certain that some of the insights from this report will make you pause and think. We see this report and