The financial report on Ted Baker--论文代写范文

51Due论文代写平台report代写范文:“The financial report on Ted Baker”，这篇论文主要描述的是Ted Baker是一件专注于男士服装、配饰产品生产的一间服装公司，该公司主要通过零售、许可销售、批发等渠道来对所生产的货物进行销售，这在零售行业来讲是非常普遍使用的销售策略，为了提供更为优质的产品和服务给顾客，Ted Baker不断的丰富所生产的产品和涉及的行业，致力于为顾客提供各位优质的产品。

Ray Kelvin found the Ted Baker and opened the first clothes store in 1988 in Glasgow. Today, Ray Kelvin have opened a number of stores all over the world and he has already become the CEO of Ted Baker. Moreover, Ted Baker has become one of the famous retail company for the luxury clothing. Successfully, Ted Baker has listed on the London Stock Exchange within the FTSE 250 Index.

As other cloths firm, the main products of Ted Baker are men’s& women’s clothing and men’s & women’s accessories. Using three channels, retail, wholesale and licensing is the main strategy of Ted Baker to distribute products all over the world. The well design, product quality and the controlling of detail are highlighted as the key by Ted Bakerto appeal and retain consumers. Nowadays, the products of Ted Baker becomes more and more abundant, including fragrance, wristwatch, Suitcases and many other fields. All of these products will bring the a glamorous boutique feel for every detail of life.

Financial Figures 财务数据

The key performance indicator of the financial of Ted Baker refer to table 1.

Table 1. The key performance indicator

Current Year    Last Year    % Movement

Revenue    ￡387,564,000

￡321,921,000    20.40%

Operating profit / loss before exceptional items    49,759,000    39,588,000    25.69%

Capital employed    140,574,000    112,064,000    25.44%

Total assets    231,662,000    171,610,000    34.99%

Net cash generated / used in operating activities    30,405,000    31,809,000    -4.41%

Number of employees    2,803,000    2,376,000    17.97%

Earnings per share (basic)    82.0p    67.2p    22.02%

Total dividend per ordinary share    29.0p    24.2p    19.83%

Year-end share price    2,373    2,111    12.41%

Year-end market capitalisation    333,582,102,000    236,567,104,000    41.01%

Revenue, Operating profit / loss before exceptional items, capital employed and earnings per share (basic) are cited from the 95th page of 2105 annual report. The total assets are coming from the 62th page of 2015 annual report. The formula of total assets is total assets=non-current assets+ current assets. Net cash generated / used in operating activities are coming from the 63th page of 2015 annual report. Number of employees are coming from the 46th page of 2015 annual report. Total dividend per ordinary share are coming from the 49th page of 2015 annual report. Yearend share price are the share price on 24 Jan 2014 and 30 Jan 2015 respectively, which coming from the website of . From the 59th page, we can get the total equity in current year and last year. Using the number share price and total equity, the formula of market capitalisation is market capitalisation= share price*total equity.

Company Analysis 公司分析

Key performance indicator analysis

According to table 1, the revenue in current is ￡387,564,000 and ￡321, 921,000 in last year. In other words, there was greatly increase rate of 20.40% on revenue of Ted Baker. Specifically, the revenue of retail account for 79% (￡306.9m) of total revenue (p.8). The profit ratio before tax of retail in current year (12.8%) is slightly bigger than the profit ratioin last year (12.4%). Moreover, the operating profit / loss before exceptional items has increased 25.69% from the last year. Thus,the ability of producing profits of the company enhanced.

Table 2. The assets indictor

Current Year    Last Year    % Movement

￡’000    ￡’000    

Total assets    231,662    171,610    35.0%

Non-current assets    72,069    57,201    26.0%

Current assets    159,593    114,409    39.5%

According to table 2, in current year, there is great growth on the total assets of Ted Baker (p.62). In current year, the current asset has increased 39.5%, which accounts for great contribution on the increase of the total assets. Thus, this movement on assets help to achieve the production goal of Ted Baker to some extent.

3.2 Financial profitability analysis

Financial profitability refers to the enterprise profit ability, also known as the appreciation ability on the enterprise found or capital. In other words, financial profitability can be shown by the scale and level of business income in a certainperiod. There are six main indictors of financial profitability for general company: operating profit ratio, ratio of profits to cost, surplus cash cover, rate of return on total assets, return on equity and return on capital. For Ted Baker, earnings per share, dividends per share, PE ratio (price earnings ratio) and net asset value per share can be used to measure the financial profitability. In the following, we would show some key indicators of financial profitability on table 3.

Table 3: The Financial profitability of Ted Baker

Current year    Last year

Operating profit ratio (p.95)    12.8%    12.3%

Surplus cash cover (p.95)    1.05    0.89

Pre-tax return on capital(p.95)    32.0%    33.9%

Post tax return on capital (p.95)    23.5%    25.1%

Earnings per share (basic) (p.95)    82.0p    67.2p

Dividends per share (p.95)    40.3p    33.7p

PE ratio ( price earnings ratio )(p.85)    16.48    16.23

Note:

Operating profit ratio = operating profit/revenue

Surplus cash cover =(Net cash generated / used in operating activities)/net profit

PE ratio =market price per share/earnings per share

Clearly, the higher the operating profit ratio, the stronger the market competition ability of the enterprise, the greater the potential for development and the stronger the financial profitability. There is slightly increase on the operating profit ratio, that is, the economic efficiency keeps steady growth. Surplus cash cover can reflect the guarantee degree of cash earning in the enterprise net profit of current period, which shows the quality of the surplus of enterprise. Generally, when the enterprise net profit is bigger than 0, it is good to make the surplus cash cover be greater than 1. The bigger the indictor, the greater contribution of the net income of business activities on cash. In current year, the surplus cash cover is 1.05>1, that is, there is significant contribution of business activities on cash of Ted Baker. The return on capital can reflect actual return level from investment. In current year, the pre-tax return on capital and post-tax return on capital are 32% and 23.5% respectively. Even though, there was slightly decrease from last year, the return on capital of Ted Baker can shows high return level from enterprise investment.

The earnings per share can measure how many profit or losses the ordinary shareholders would obtain from each share. The higher the earning per share, the stronger the profitability of the company. The high earning per share reflect good profit of Ted Baker.The dividends per share could reflect the current profit accumulation and distribution of Ted Baker. Lastly, P/E ratio can be used to estimate the return and risk of stock investment. High P/E ratio suggests good prospect on the development of the company. In addition, more and more investors would like to pay higher price to buy the shares. The P/E ratio of Ted Baker in current year is 16.5, which lies in 14-20, that is, the profit is estimated at normal level.

In conclusion, there is good financial profitability on the operating of Ted Baker.

3.3Debt paying ability analysis

There are two kinds of debt paying ability: the short-term debt paying ability and long-term debt paying ability. The short-term debt paying ability refer to the pay ability of enterprise on short-term debt. The insufficient short-term debt pay ability would not only affect the credit condition of enterprise that increase the cost and the difficulty of raising found, but make enterprise into a financial crisis or even bankruptcy. In general, current assets should be used to repay the current liabilities not the long-term asset. Thus, the ratio relationship between current assets and current liabilities to measure the short-term debt paying ability.

The long-term debt paying ability refer to the pay ability of enterprise on short-term interest and principal. In general, asset-liability ratio is good way to measure the long-term debt pay ability. The specific ratio refer to table 3.

Table 4. The debt paying ability (p.62)

Current Year    Last Year    % Movement

Current ratio    1.75    1.61    8.6%

Quick ratio    1.74    1.61    8.6%

Asset-liability ratio    0.39    0.44s    -11.5%

Note：

Current ratio = current assets/current liabilities

Quick ratio = (current assets - inventory)/current liabilities

Asset-liability ratio= the total liabilities/total assets

In general, it is relative safe to keep the current ratio as 2. If the current ratio is much bigger than 2, there would be low efficiency on the management of the enterprise. If the current ratio is much smaller than 2, there would be poor management of the enterprise. The current ratio has increase 8.6% from last year. Moreover, the current ratio is close to 2, that is, the short-term pay ability of the enterprise is much stronger, the short term liquidity risks of the enterprise is much smaller and the safety degree of the creditors is much higher.

Quick ratio is used to measure the immediately ability to repay the current liabilities in the current assets of enterprise. There is little difference between the current ratio and the quick ratio. Thus, the liquidity of current asset is high and the pay ability is relative high.

Asset-liability ratio is used to reflect the relative ratio between the capital provided by the creditors and the capital provided by shareholders, which can reflect the stability of basic financial structure. The asset-liability ratio in current year is 0.39 and 0.44 in last year. The value of this indictor is relative reasonable. Thus, the long-term risk of solvency is relative small.

In conclusion, both the short-term and long-term pay ability of Ted Baker are relative high. Moreover, the solvency risk of Ted Baker is relative small.

3.4Operation capacity analysis

Operation capacity refers to the earing profit ability by using various assets. The financial analysis ratio of operation capacity are inventory turnover, receivable turnover ratio, current assets turnover and total asset turnover. In the following, we would show some key indicators of operation capacity on table 5.

Table 5. The operation capacity

Receivable turnover ratio (p.58,90)    86.2

Inventory turnover ratio (p.58,82)    8.5

Total asset turnover (p.95, 8)    1.9

Note:

Receivable turnover ratio=Net receivable sales/average net receivables

Inventory turnover ratio=cost of goods sold/average inventory

Asset turnover=net sales revenue/average total assets

In a certain period, the bigger the receivable turnover, the faster the speed of receivable recovery and the higher efficiency of the management. The receivable turnover ratio is 86.2. Thus, the efficiency of management of Ted Baker is relative high. The higher the inventory turnover, the better of sales ability and current assets liquidity. The inventory turnover ratio is 8.5, that is, the cost of sale is relative high and the product sales increases rapidly. The total assets turnover can be used to analyse the use efficiency of total assets. The greater the total assets turnover, the stronger the sales ability.

Therefore, theoperation capacity of Ted Baker is relative strong.

3.5 Growth capacity analysis

Growth capacity of enterprise refer to the potential ability to develop by its own operating activities and increasing accumulation. The main indictors to measure growth capacity are revenue growth rate, net profit growth rate,growth rate of total assets, and growth rate of earning per share and so on. In the following, we would show some key indicators of growth capacity on table 6.

Table 6. The growth capacity

Current year

Revenue growth rate (p.95)    20.40%

Net profit growth rate (p.58)    24.3%

Growth rate of total assets (p.8)    35.0%

Growth rate of non-current assets (p.8)    26.0%

Growth rate of current assets (p.8)    39.5%

Growth rate of earning per share (p.95)    22.0%

According to table 6, form last year to current year, the revenue of Ted Baker has increased 20.4%. Moreover, the net profit has increased 24.3%. Thus, the profit ability of Ted Baker is very strong and there is good ability to develop the enterprise.The growth rate of total assets can reflect the influence of the growth scale of enterprise on the development of enterprise. The total assets has increased 35%, that is, there is fast expending speed on asset scale in current year. Earnings per share has increased 22%, which would appeal more and more investors.

4. Recommendation 建议

Based on the above discussion, in current year, there is great growth on the total assets of Ted Baker.The short-term pay ability of Ted Baker is relative strong, the short-term liquidity risks of the enterprise is relative small. The long-term risk of solvency is relative small.The efficiency of management of Ted Baker is relative high.The cost of sale is relative high and the product sales increases rapidly, which make strong operation capacity. On the other hand, there is fast expending speed on asset scale in current year.Even though, there was slightly decrease of the return on capital from last year, the return on capital of Ted Baker can shows high return level from investment.Therefore, it is no doubt that in current year, Ted Baker keeps the good growth capacity. In other words, Ted Baker is a very promising company for good financial profitability, high debt pay ability, strong operation capacity and powerful growth capacity.

To sum up, Ted Baker is a company with good economic and financial condition. Thus, I will recommend my colleague and me to invest the company.

51Due原创版权郑重声明：原创范文源自编辑创作，未经官方许可，网站谢绝转载。对于侵权行为，未经同意的情况下，51Due有权追究法律责任。

51due为留学生提供最好的服务，想获取更多report代写范文，亲们可以进入主页 www.51due.com  为留学生提供report代写服务，了解详情可以咨询我们的客服QQ:800020041哟。-xz