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Essay / Research Paper Abstract
This 8 page paper examines the financial results of Molson Coors and Anheuser Busch for the years 2005 and 2006. Calculations are shown for different profit, efficiency and leverage measures. The bibliography cites 2 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEanhcoor.rtf
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company is considering one of these as an acquisition it is beneficial to examine the performance against a competitor. Looking at the financial performance of these two companies over the
last two financial years gives a good indication of relative performance. The financial performance can be measured in a number of ways; we will look at profitability, management efficiency and
leverage ratios. For both companies, at the time of writing this paper the most up to date annual reports were those of 2006. Profitability can be seen as the
most commonly used way of assessing whether a company is successful and the extent of that success. There are several profit measures which can be utilised. However before looking at
these figures we need to remember that these are brewing companies and as such the sales figures need to be understood. Beer sales have excise taxes paid on them. These
are collected by the firms on behalf of the tax office. The reports give the sales figures including and then excluding these taxes. As this is excise and not true
revenue the figures used as the dross income is the gross income of the company, shown as the revenue less beer excise in annual accounts of each firm. This is
the traditional that these types of accounts are analysed. Looking at the profit measure we can consider the gross, operating and net profit margins. The gross margin is expressed
as a percentage. This is the level of revenue that remains when all of the direct costs for producing the goods or services are deducted form the revenue. This indicates
the level at which direct costs account take up revenue. This is shown in for both companies in table 1 Table 1 Gross profit margin. Molson Coors Anheuser Busch
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