twelve month cash flow

7/27/2019 Twelve month cash flow

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Domino's Pizza (UK & IRL) plc

Group profit and loss account Horizontal

52 weeks to 29 December 2002 2002 2001 2002

000s 000s % %

Turnover 53,109 43,825 21.18 100

Less Cost of Sales (see note 1) -28,054 -23,132 21.28 -52.82

Gross Profit 25,055 20,693 21.08 47.18

Distribution costs -8,663 -7150 21.16 -16.31

Administrative expenses -11,813 -10,230 15.47 -22.24

Other operating income and expenditure -16 -99 -83.84 -0.03

Profit on ordinary activities before interest and taxation 4,563 3,214 41.97 8.59

Interest receivable 50 78 -35.90 0.09

Interest payable and similar charges -374 -430 -13.02 -0.70Profit on ordinary activities before taxation 4,239 2,862 48.11 7.98

Taxation -1,404 -858 63.64 -2.64

Profit for the financial year 2,835 2,004 41.47 5.34

Dividends (note 2) -1,018 -668 52.40 -1.92

Profit retained for the financial year 1,817 1,336 36.00 3.42

Note 1: Taken as 'credit purchases for 'creditor payment period' calculation

Note 2: Dividends per share (p) 2 1.33

*Factors are used to calculate 'vertical' analysis, and represent 100 divided by the year's turnover

Changes in horizontal analysis over 20% shown in blue

(see next two sheets for 12.2b and 12.2c)

Vert


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Factor*

2001 2002 2001 2002 2001

%

100 121 100 0.001883 0.002282

-52.78 121 100 0.001883 0.002282

47.22 121 100 0.001883 0.002282

-16.31 121 100 0.001883 0.002282

-23.34 115 100 0.001883 0.002282

-0.23 16 100 0.001883 0.002282

7.33 142 100 0.001883 0.002282

0.18 64 100 0.001883 0.002282

-0.98 87 100 0.001883 0.0022826.53 148 100 0.001883 0.002282

-1.96 164 100 0.001883 0.002282

4.57 141 100 0.001883 0.002282

-1.52 152 100 0.001883 0.002282

3.05 136 100 0.001883 0.002282

ical Trend


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Domino's Pizza (UK & IRL) plc Horizontal

Group balance sheet as at 29 December 200 2002 2001 2002 2001

000s 000s % % %

Fixed assets

Intangible assets 2,386 2,484 -3.95 20.39 25.88

Tangible assets 13,685 12,181 12.35 116.96 126.91

Investments in joint venture (net) 307 277 10.83 2.62 2.89

16,378 14,942 9.61 139.97 155.68

Current assets

Stocks 1,411 1,260 11.98 12.06 13.13

Debtors due within one year (note 1) 8,572 6,665 28.61 73.26 69.44

Debtors due after more than one year (note 1 2,130 1,756 21.30 18.20 18.30

Cash at bank and in hand 3,885 3,231 20.24 33.20 33.6615,998 12,912 23.90 136.72 134.53

Creditors due within one year (note 2) -12,919 -10,203 26.62 -110.41 -106.30

Net current assets 3,079 2,709 13.66 26.31 28.22

Total assets less current liabilities 19,457 17,651 10.23 166.28 183.90

Creditors due after more than one year -7,152 -7,632 -6.29 -61.12 -79.52

Provision for liabilities and charges -604 -421 43.47 -5.16 -4.39

Total net assets (note 3) 11,701 9,598 21.91 100.00 100.00

Capital and reserves

Called up share capital (notes 4 and 5) 2,546 2,518 1.11 21.76 26.23

Share premium account 2,395 2,192 9.26 20.47 22.84

Profit and loss account 6,760 4,888 38.30 57.77 50.93

Equity shareholders' funds 11,701 9,598 21.91 100.00 100.00

Notes:

1. Of which trade debtors were: 2,533 2,6212. Of which trade creditors were: 3,956 4,006

3. 'Net indebtedness (see gearing calculation 6,308 5,760

4. No. of equity shares issued at year-end (m 50,920 50,360

5. Assume stock market price (p) 110 75

Changes in horizontal analysis over 20% shown in blue

*Factors are used to calculate 'vertical' analysis, and represent 100 divide by the year's total net assets

Vertical


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Factor*

2002 2001 2002 2001

96 100 0.008546 0.010419

112 100 0.008546 0.010419

111 100 0.008546 0.010419

110 100 0.008546 0.010419

112 100 0.008546 0.010419

129 100 0.008546 0.010419

121 100 0.008546 0.010419

120 100 0.008546 0.010419124 100 0.008546 0.010419

127 100 0.008546 0.010419

114 100 0.008546 0.010419

110 100 0.008546 0.010419

94 100 0.008546 0.010419

143 100 0.008546 0.010419

0.008546 0.010419

122 100 0.008546 0.010419

101 100 0.008546 0.010419

109 100 0.008546 0.010419

138 100 0.008546 0.010419

122 100 0.008546 0.010419

Trend


5/12

Domino's Pizza (UK & IRL) plc

Group cash flow statement 2002 2001

for the 52 weeks to 29 December 2002 000s 000s

Net cash inflow from operating activities 5,128 4,475

Returns on investments and servicing of finance

Interest received 50 78

Interest paid -343 -304

Interest element of Finance lease payments -9 -11

-302 -237

Taxation -950 -617

Capital expenditure and financial investment

Payments to acquire tangible fixed assets -214 -68

Payments to acquire intangible fixed assets -3,291 -2,560

Receipts from sales of fixed assets 411 5

Receipts from repayment of joint venture loan 46 36

Payments to acquire finance lease assets and advance of franchisee loans -1,247 -1,007

Receipts from repayment of finance leases and franchisee loans 901 445-3,394 -3,149

Acquisitions and disposals

Purchase of subsidiary undertaking and un-associated businesses -484 -160

Equity dividends paid -777 -501

Net cash outflow before financing -779 -189

Financing

Issue of ordinary share capital 231 164

New long-term loans 2,719 2,660

Repayments of long-term loans -1,443 -330

Repayments of capital element of finance leases and hire purchase contracts -74 -72

1,433 2,422

I i h 654 2 233


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Horizontal Factor*

2002 2001 2002 2001 2002 2001% % %

14.59 100 100 115 100 0.019501 0.022346

-35.90 0.98 1.74 64 100 0.019501 0.022346

12.83 -6.69 -6.79 113 100 0.019501 0.022346

-18.18 -0.18 -0.25 82 100 0.019501 0.022346

27.43 -5.89 -5.30 127 100 0.019501 0.022346

53.97 -18.53 -13.79 154 100 0.019501 0.022346

214.71 -4.17 -1.52 315 100 0.019501 0.022346

28.55 -64.18 -57.21 129 100 0.019501 0.022346

8,120.00 8.01 0.11 8,220 100 0.019501 0.022346

27.78 0.90 0.80 128 100 0.019501 0.022346

23.83 -24.32 -22.50 124 100 0.019501 0.022346

102.47 17.57 9.94 202 100 0.019501 0.0223467.78 -66.19 -70.37 108 100 0.019501 0.022346

202.50 -9.44 -3.58 303 100 0.019501 0.022346

55.09 -15.15 -11.20 155 100 0.019501 0.022346

312.17 -15.19 -4.22 412 100 0.019501 0.022346

40.85 4.50 3.66 141 100 0.019501 0.022346

2.22 53.02 59.44 102 100 0.019501 0.022346

337.27 -28.14 -7.37 437 100 0.019501 0.022346

2.78 -1.44 -1.61 103 100 0.019501 0.022346

-40.83 27.94 54.12 59 100 0.019501 0.022346

70 71 12 75 49 90 29 100 0 019501 0 022346

Vertical Trend


7/12

Ratios 2002 2001

Profitability Group

ROCE (Return on Capital employed) Operating Profit before interest and tax 4,563 = 3,214

Share Capital + Reserves + Long term loans 18,853 17,230

Gross Margin (or Gross Profit Margin) Gross Profit 25,055 20,693

Turnover 53,109 43,825

Mark-up Gross Profit 25,055 = 20,693

Cost of goods sold 28,054 23,132

Net Margin (or Net Profit Margin) Operating Profit before interest and tax 4,563 3,214

Turnover 53,109 43,825

Efficiency Group

Fixed assets turnover Turnover 53,109 43,825

Fixed assets at net book value 16,378 14,942

Stock turn Closing stock x 365 515,015 459,900

Cost of goods sold 28,054 23,132

Trade debtors collection period Trade debtors x 365 924,545 956,665

Credit sales 53,109 43,825

Trade creditors payment period Trade creditors x 365 1,443,940 1,462,190

Credit purchases 28,054 23,132

Short term solvency and liquidity

Current ratio (aka working capital ratio) Current Assets: Current Liabilities 15,998 12,912

12,919 10,203

Acid Test (aka Quick Assets test) (Current Assets - Stock) :Current Liabilities 14,587 11,652

3.24= =times

=

=

=

=

=

days

24.20%

47.18%

89.31%

8.59%

=

days= =

= =1.24

days= =

= =17.41

51.47

18.36

:1


8/12

12,919 10,203

Long term solvency and liquidity

Gearing Long-term loans - Cash and bank balances 3,267 4,401

Share Capital + reserves + (long term loans -

cash & bank balances) 14,968 13,999

(or)

Long-term loans - Cash and bank balances 3,267 4401

Share Capital + reserves 11,701 9,598

(or)

All loans - cash and bank balances 6,308 5,760

Share Capital + reserves 11,701 9,598

Interest cover Profit before interest 4,563 3,214

Interest payable 374 430

Investment ratios

Eps (earnings per share)* Profit available for ordinary dividend 2,835 = 2,004No. of equity shares issued 50,920 50,360

PE (price/earnings) Stock market price 110 = 75 =

Earnings per share 5.6 4.0

Dividend cover Profit available to pay dividend 2,835 = 2,004 =

Dividends paid and proposed 1,018 668

Dividend yield Dividend per share 2 = 1.33 =

Market price per share 110 75

=

1.82%

times

19.8

2.8

times

53.91%

5.6 p =

times

.

27.92%=

21.83%= =

= =

= =12.20


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21.83

63.21

2.93

47.22%

18.65%

89.46%

7.33%

days

days

days

times

19.88

:11.27


10/12

times

45.85%

times

1.77%

3.0

4.0

times18.8

p

31.44%

.

60.01%

7.47


11/12

Ratios

Profitability Group

ROCE (Return on Capital employed)

Gross Margin (or Gross Profit Margin)

Mark-up

Net Margin (or Net Profit Margin)

Efficiency Group

Fixed assets turnover

Stock turn

Trade debtors collection period

Trade creditors payment period

Short term solvency and liquidity

Current ratio (aka working capital ratio)

Acid Test (aka Quick Assets test)

:1:1 1.27

times

17.41

51.47

19.8818.36 days days

1.24

days days

daysdays

47.22%

24.20%

47.18%

89.31%

8.59%

2.933.24

18.65%

89.46%

7.33%

21.83

63.21

times


12/12

Long term solvency and liquidity

Gearing

Debt/Equity

Capital Gearing

Interest cover

Investment ratios

Eps (earnings per share)*

PE (price/earnings)

Dividend cover

Dividend yield

60.01%

12.20 7.47

.

31.44%21.83%

times

53.91%

.

27.92%

5.6 4.0p

timestimes 18.8

times

p

31.44%

times

1.82% 1.77%

3.0times

19.8

2.8

twelve month cash flow

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