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Essay / Research Paper Abstract
This 4 page paper examines the performance of Granada Plc in the years 2002 and 2003, looking at profitability, solvency, activity, capital structure and stock market measures. The bibliography cites 1 source.
Page Count:
4 pages (~225 words per page)
File: TS14_TEgranada.rtf
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October 2003 following a referral to the Competition Commission by the secretary of state, which allowed the merger to go ahead. The merger was finalised on the 4th of February
2004, when the company took on the name ITV Plc, at which time the stock of Granada was all cancelled and new stock issued under the name ITV was issued,
on a one for one basis, and officially Granada become a subsidiary company of ITV. When examining the accounts it is worth noting these changes for which no annual accounts
have yet been issued. When we look at the recent accounts the latest set of accounts ending 31st December 2003 were for a fifteen month period, with the accounts before
this ending 30th September 2002. This will result in some anomalies. This analysis is based on Granda PLC. 2. Profitability When examining the company the first measure many investor
will be interested in will be profitability. If we look at the figures we see 2003 indicates a big improvement n 2002. 2002 had a gross profit margin of
-9.74% and a net profit margin of -23.76%, in 2003 these improved to gross profit margin of 8.24 and a net profit margin of 3.8%. The return of capital
employed, also know as the return on investment is also improving as would be expected with these figures, 2003 was 7.91% compared with -7.31 in 2002. The figures may have
been skewed by the additional three months, bit only if these three months have had a major turnaround, as these are proportional figures rather than numerical judgments. Part of the
difficulties may be seen as the exceptional items in 2002, which falls greatly in 2003, there is also preparation for the merger. 3. Solvency The company is profitable and has
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