APPENDIX 3
COMHLUCHT SIÚICRE ÉIREANN, TEORANTA COMPARATIVE PERFORMANCE AND FINANCIAL ANALYSIS
|
Comhlucht Siúicre Éireann Teoranta |
British Sugar Corp.(1) |
25 largest listed Irish Cos.(2) |
|
1979 |
1978 |
1979 |
1978 |
1978 |
1977 |
Total Sales |
Ir£125m |
Ir£106m |
£381m |
£304m |
Ir£1141m |
Ir£1020m |
Profit before interest |
Ir£6m |
Ir£5m |
£40m |
£29m |
Ir£87m |
Ir£74m |
Total Assets |
Ir£78m |
Ir£60m |
£240m |
£191m |
Ir£757m |
Ir£661m |
No. of employees |
3615 |
3631 |
6144 |
5953 |
n/av |
n/av |
Profitability Ratios |
|
|
|
|
|
|
Profit before interest to Sales |
4.7% |
4.8% |
10.5% |
9.7% |
7.6% |
7.3% |
Profit/Capital Employed |
10.2% |
11.0% |
19.2% |
17.9% |
15.1% |
15.1% |
Debt Equity—Gearing |
|
|
|
|
|
|
Shareholders Funds/Total Assets |
27.2% |
34.3% |
65.4% |
68.6% |
48.4% |
49.6% |
Total borrowing/Shareholders Funds |
143.4% |
100.0% |
32.6% |
23.7% |
39.1% |
51.4% |
Interest/Operating Profit |
79.7% |
37.3% |
18.8% |
12.9% |
13.3% |
21.3% |
Liquidity |
|
|
|
|
|
|
Current Assets/Current Liabilities |
165.5% |
127.4% |
179.8% |
186.2% |
163.1% |
160.2% |
Asset Management |
|
|
|
|
|
|
Stocks (in days) |
85 |
90 |
66 |
69 |
68 |
68 |
Debtors (in days) |
58 |
51 |
21 |
14 |
60 |
62 |
Efficiency and Investment per Employee |
|
|
|
|
|
|
Sales per employee |
Ir£34910 |
Ir£29138 |
£62011 |
£51104 |
n/av |
n/av |
Fixed Assets per employee |
Ir£7,496 |
Ir£5,095 |
£24,278 |
£20,477 |
n/av |
n/av |
(1) Source: Published Annual Accounts of British Sugar Corp. Ltd.
(2) Source: Business and Finance, 17 January 1980 ‘Aggregate Accounts—25 Companies’, p.32.
(3) Profit defined as profit before interest and tax. Capital employed is defined as the sum of shareholders funds, grants, pension provisions and tot al borrowings. Most listed companies had included assets at a recent revaluation figure, whereas Irish Sugar carried its assets on a historic cost basis.
This difference would make Irish Sugar Co’s return on capital appear more favourable.
Note: Ir£ denotes Irish pounds and £ denotes sterling.
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