Black Mores Report Analysis

Table of Ratios

Ratio 2012 2011 2010

ROE

Return on

Ordinary Shareholders

Funds.

86280000+

79112000

165392000

165392000/2=

826960000

27806000/82696000=

0.336243591 x100

=33.62% 79112000+

71790000

150902000

150902000/2=

75451000

27305000/75451000=

0.3618904985 x100

=36.19% 71790000+

58563000

130353000

130353000/2=

65176500

24297000/65176500=

0.3127877379 x100

=37.28%

ROA

Return on

Assets 174771+

153130

327901

327901/2=163950.5

41957/163950.5=

0.2559126078 x100

=25.59% 154349

153130+

307479

307479/2=153739.5

42058/153739.5=

0.2735666501 x100

=27.36% 154349+

138509

292858

292858/2=146429

36746/146429=

0.2509475582

=25.09%

GPM

Gross profit Margin 260832-86482=

174350

174350/260832=

0.6684379217 x100

=66.84% 234423-78790=

155633

155633/234423=

0.663898167 x100

=66.39% 214932-80722=

134210

134210/214932=

0.6244300523 x100

=62.44%

ROCE

Return on Capital Employed 86280+46944+

40811+79112

253147

253147/2=126573.5

41957/126573.5=

0.3314832884 x100

=33.15% 79112+71790+

40811+48102

239815

239815/2=119907.5

42058/119907.5=

0.350753706 x100

=35.08% 71790+58563+

48043+48102

226498

226498/2=113249

36746/113249=

0.3244708563x100

=32.45%

NPM

Net Profit Margin 41957/260832=

0.1608583303x100

= 16.09% 42058/234423=

0.1794107234x100

=17.94% 36746/214934=

0.1709641099x100

=17.10%

Inventory Turnover 31786+23784=

55570

55570/2=27785

27785/86482=

0.3212807289 x365

=117.3 days 23749+22555=

46304

46304/2=23152

23152/78790=

0.2938443965 x365

=107.25 days 16072+22555=

38627

38627/2=19313.5

19313.5/80151=

0.2409639306

=87.95 days

Days debtors

53698+43030=96728

96728/2=48364

48364/260832=

0.1854220341 x365

= 67.68days 43030+33994=77024

77024/2=38512

38512/235268=

0.1636948658 x365

= 59.74 days 38348+33994=72342

72342/2=36171

36171/214934

=0.1682888701 x365

= 61.43 days...