Tottenham Hotspur plc 1. First‚ calculate FCF. As written in the case‚ both depreciation and CAPEX grows 7% annually and I assumed change in NWC is consistently 0. Given discount rate is 10.25%. I put 1% perpetual growth on CF projection after 2020. The NPV of CF is 79.13 (in M GBP) as below. Since EV is 79.93 and net debt (total debt – cash and equivalents) is 16.79‚ therefore we can say that E is 63.14. On the other hand‚ as its current stock price of £13.80‚ the market capitalization
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References……………………….. Page 11‚12 Appendix…………………………..Page 13 Introduction The role given for this report is to show a financial analyst acting on behalf of a large institutional investor advising them on their future investment in Sainsbury plc. This report will explore calculations of the financial ratios‚ such as gross margin which measures the performance of how suitable a company manages its costs (Campbell R.Harvey‚ 2004a). For Sainsbury’s this report will investigate the ratios within
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Next Plc | 2011 | 2010 | PerformanceGross Profit | 1008.7/3453.7 = 29.21% | 996.9/3406.5 = 29.26% | Operating Profit | 574.8/3453.7 = 16.64% | 529.8/3406.5 = 15.56% | ROCE | 574.8/(232.4 + 727) = 59.91% | 529.8/(133.4+802) = 56.63% | Asset Turnover | 3453.7/(232.4+727) = 3.60 times. | 3406.5/(133.4+802) = 3.64 | LiquidityCurrent Ratio | 1067.3/832.9 = 1.3:1 | 1041.2/758.1 = 1.4:1 | Quick Ratio | (1067.3 – 368.3)/832.9 = 0.84:1 | (1041.2 – 309)/758.1 = 0.97:1 | Inventory Days
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surface. Another reason I have decided to draw comparisons between these organisations is because I have always wondered how Tesco Plc made it to the top of the retail market and how they managed to surpass all competition along the way‚ such as J Sainsbury Plc. 4.0 Findings 5.9 Stakeholders within the two organisations: Stakeholder | Tesco PLC | Sainsbury’s PLC | Customers | Yes | Yes | Employees | Yes | Yes | Suppliers | Yes | Yes | Investors (shareholders) | Yes | Yes | Local Community
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NYIT School of management Report CASE STUDY 22: VICTORIA CHEMICALS PLC(A) CAPITAL BUDGETING DECISIONS SUBMITTEDTO: DR.RAJA NAG PREPARED BY: SEVTAP BATIR HONEY MEHTA JUN HUANG NYIT School of management Report CASE 22 Victoria Chemical In 2007‚ Victoria Chemicals experienced a significant drop in its improve its performance as its earnings had fallen 38% from 250 pence per share to 180
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Primark Company Background Primark is part of Associated British Foods (ABF)‚ a diversified international food‚ ingredients and retail group. Primark has almost 200 stores across Ireland‚ the UK‚ Spain‚ Netherlands‚ Germany‚ Belgium and Portugal. Primark’s annual turnover accounts for a significant proportion of ABF’s revenues and profit. Today‚ Primark specializes in clothing‚ while marketing primarily to fashion-conscious customers that
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Executive Summary: Jaguar PLC‚ 1984 This case explores the operating exposure of Jaguar PLC in 1984‚ just as the government is about to relinquish control and take the company public via an IPO. The primary concern of the CFO is that Jaguar sells over 50% of its cars in the US‚ while its production costs and factories are U.K.-based. This currency mismatch creates operating exposure for the firm that needs to be hedged. While the current trend in the USD has been higher‚ the markets are expecting
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UV2493 Version 1.5 DIAMOND CHEMICALS PLC (A): THE MERSEYSIDE PROJECT Late one afternoon in January 2001‚ Frank Greystock told Lucy Morris‚ “No one seems satisfied with the analysis so far‚ but the suggested changes could kill the project. If solid projects like this can’t swim past the corporate piranhas‚ the company will never modernize.” Morris was plant manager of Diamond Chemicals’ Merseyside Works in Liverpool‚ England. Her controller‚ Frank Greystock‚ was discussing a capital project that
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(2002) ‘Tesco Pursues International Expansion Strategy’. McClatchy - Tribune Business News pp. 1-1. Stacey‚ R‚D. (2011) Strategic management and organisation dynamics‚ the challenge of complexity. 6th ed. Pearson Education Limited Strange‚ R Tesco plc. (2011) About Tesco [online] Available at: <http://www.tescoplc.com/about-tesco/> [Accessed 11th December] Tesco.com [online] availablle at: < http://www.tesco.com > [Accessed 11th December 2011 until 2nd January 2012].
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The issue: Grand Metropolitan PLC is the world’s largest wine and spirits seller. It mainly operated in London‚ USA. In 1991‚ it beats market expectation with a 4.8% increase in pretax profits‚ and the company Chairman stated that company’s goal “to constantly improve on”. Despite the great performance in the world recession in 1991‚ the price of GrandMet shares was 10% below the average price/earnings ratio of the companies in the Standard & Poor’s 500 index. And more important‚ rumors had that
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