BU7753 Finance for managers

The following are the summarised financial statements for Cordoba Ltd for the
past 2 years.
Income statement for year ended 30 November

2011 2011 2012 2012

£000 £000 £000 £000

Revenue 4940 6850

less Cost of
sales
Opening 630 930
inventories
+purchases 3320 4770
-closing 930 1150
inventories
3020 4550
Gross profit 1920 2300
less expenses 1460 1850
Net profit 460 450

Balance Sheet as at 30 November

2011 2011 2012 2012
£000 £000 £000 £000

Non current assets 2600 3210

Current assets
Inventories 930 1150
Receivables 820 1230
Bank 20 10
1770 2390
Less current 560 1210 840 1550
liabilities
3810 4760

Equity
£1 ordinary shares 1000 1800
Share premium 0 400
Reserves 2810 2560
3810 4760
You are to calculate relevant ratios and comment upon the performance of the
company