Hardy is a public listed manufacturing company. Its summarised fi nancial statements for the year ended 30 September 2010 (and 2009 comparatives) are:
Income statements for the year ended 30 September:
Statements of fi nancial position as at 30 September:
The following information has been obtained from the Chairman’s Statement and the notes to the fi nancial statements:
‘Market conditions during the year ended 30 September 2010 proved very challenging due largely to diffi culties in the global economy as a result of a sharp recession which has led to steep falls in share prices and property values. Hardy has not been immune from these effects and our properties have suffered impairment losses of $6 million in the year.’
The excess of these losses over previous surpluses has led to a charge to cost of sales of $1·5 million in addition to the normal depreciation charge.
‘Our portfolio of investments at fair value through profi t or loss has been ‘marked to market’ (fair valued) resulting in a loss of $1·6 million (included in administrative expenses).’
There were no additions to or disposals of non-current assets during the year
‘In response to the downturn the company has unfortunately had to make a number of employees redundant incurring severance costs of $1·3million (included in cost of sales) and undertaken cost savings in advertising and other administrative expenses.’
‘The diffi culty in the credit markets has meant that the fi nance cost of our variable rate bank loan has increased from 4·5% to 8%. In order to help cash fl ows, the company made a rights issue during the year and reduced the dividend per share by 50%.’
‘Despite the above events and associated costs, the Board believes the company’s underlying performance has been quite resilient in these diffi cult times.’
Required:
Analyse and discuss the fi nancial performance and position of Hardy as portrayed by the above fi nancial statements and the additional information provided.
Your analysis should be supported by profi tability, liquidity and gearing and other appropriate ratios (up to 10 marks available).
楔形连接装置的累计使用期限:多绳提升不超过()年。
A. 5
B. 10
C. 15
凿井用悬挂风管、水管、风筒、注浆管的连接装置,其安全系数不小于()。
A. 8
B. 10
C. 13
当提升速度超过最大速度的多少时,提升机装设的防止过速装置必须能自动断电,并能使保险闸发生作用()%。
A. 10
B. 15
C. 20