BRITISH AIRWAYS PLC (01777777)
Financials Report
BRITISH AIRWAYS PLC
Statutory Information
| Previous name(s): | None |
|---|---|
| Registered Number: | 01777777 |
| Incorporation Date: | 13/12/1983 |
| Registered Office: | WATERSIDE PO BOX 365 HARMONDSWORTH WEST DRAYTON UB7 0GB |
| Latest Filed Accounts: | 31/03/2005 |
| Date Accounts Lodged: | 24/08/2005 |
| Analysed Accounts: | 31/03/2005 |
| Accounts Ref. Date: | 31/03 |
| Latest Annual Return: | 31/07/2005 |
| Issued Capital (GBP): | 282,720,601 |
| Company Status: | Quoted Public limited with share capital English/Welsh companies incorporated under part 1 of the Companies Act |
| Type of Accounts: | Group |
Directory Information
| Bankers: | NATIONWIDE | ||
|---|---|---|---|
| Auditors: | Ernst & Young LLP | ||
| Principal Activities: | A group engaged in the operation of international & domestic scheduled & charter air services for carriage of passengers,freight and mail and the provision of ancilliary services. | ||
| UK SIC Code(s): |
|
Ownership
| Holding Company: | None |
|---|---|
| Ultimate Holding Company: | None |
Profit & Loss Account (31/03/2005 -
31/03/2001)
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Audit Qual./Comment | No | No | No | No | No |
| Turnover [1] | 7,813,000 | 7,560,000 | 7,688,000 | 8,340,000 | 9,278,000 |
| Cost of Sales | 7,136,000 | 7,008,000 | 7,263,000 | 8,291,000 | 8,757,000 |
| Gross Profit | 677,000 | 552,000 | 425,000 | 49,000 | 521,000 |
| Operating Profit [2] | 582,000 | 398,000 | 341,000 | -12,000 | 428,000 |
| Non-Trading Income | 106,000 | 111,000 | 104,000 | 186,000 | 111,000 |
| Interest Payable | 273,000 | 279,000 | 310,000 | 374,000 | 389,000 |
| Pre-Tax Profit | 415,000 | 230,000 | 135,000 | -200,000 | 150,000 |
| Taxation | 149,000 | 85,000 | 50,000 | -71,000 | 69,000 |
| Profit After Tax | 266,000 | 145,000 | 85,000 | -129,000 | 81,000 |
| Dividends Payable | - | - | - | - | - |
| Retained Profit | 251,000 | 130,000 | 72,000 | -142,000 | -126,000 |
| Value Added | 2,933,768 | 2,682,152 | 2,692,088 | 2,583,744 | 2,996,928 |
Balance Sheet (31/03/2005 -
31/03/2001)
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Tangible Fixed Assets [3] | 8,356,000 | 9,168,000 | 10,011,000 | 10,963,000 | 11,088,000 |
| Intangible Assets | - | - | - | - | - |
| Total Fixed Assets | 8,546,000 | 9,336,000 | 10,175,000 | 11,103,000 | 11,148,000 |
| Stocks | 84,000 | 76,000 | 87,000 | 109,000 | 170,000 |
| Trade Debtors | 685,000 | 676,000 | 597,000 | 772,000 | 853,000 |
| Cash | 78,000 | 64,000 | 222,000 | 64,000 | 71,000 |
| Miscellaneous Current Assets [4] | 1,943,000 | 1,949,000 | 1,819,000 | 1,614,000 | 1,456,000 |
| Total Current Assets | 2,790,000 | 2,765,000 | 2,725,000 | 2,559,000 | 2,550,000 |
| Creditors: Amounts falling due within one year [5] | 2,980,000 | 2,996,000 | 2,904,000 | 3,201,000 | 3,308,000 |
| Total Assets less Current Liabilities | 8,356,000 | 9,105,000 | 9,996,000 | 10,461,000 | 10,390,000 |
| Total Liabilities | 8,871,000 | 9,914,000 | 10,842,000 | 11,646,000 | 11,577,000 |
| Share Capital & Reserves [7] | 1,033,000 | 1,028,000 | 1,059,000 | 1,059,000 | 1,059,000 |
| P & L Account Reserve | 1,177,000 | 897,000 | 729,000 | 687,000 | 772,000 |
| Revaluation Reserve | 255,000 | 262,000 | 270,000 | 270,000 | 290,000 |
| Shareholders Funds | 2,465,000 | 2,187,000 | 2,058,000 | 2,016,000 | 2,121,000 |
| Capital Employed | 8,356,000 | 9,105,000 | 9,996,000 | 10,461,000 | 10,390,000 |
| Net Worth | 2,275,000 | 2,019,000 | 1,894,000 | 1,876,000 | 2,061,000 |
| Working Capital | -190,000 | -231,000 | -179,000 | -642,000 | -758,000 |
| Contingent Liabilities | 259,000 | 383,000 | 300,000 | 281,000 | 143,000 |
Cash Flow (31/03/2005 -
31/03/2001)
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Net Cash Flow from Operating Activities | 1,192,000 | 1,093,000 | 1,185,000 | 866,000 | 1,251,000 |
| Net Cash Flow from Return on Investment and Servicing of Finance | -150,000 | -184,000 | -226,000 | -426,000 | -503,000 |
| Net Cash Flow before Financing | 1,165,000 | 676,000 | 942,000 | 213,000 | 491,000 |
| Net Cash Flow from Financing | -1,151,000 | -834,000 | -784,000 | -217,000 | -521,000 |
| Increase in cash | 14,000 | -158,000 | 158,000 | -4,000 | -30,000 |
Accounts Notes (31/03/2005 -
31/03/2001)
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| [1] Exports | - | - | - | - | - |
| [2] Operating Profit is after charging the following | |||||
| Employees Remuneration | 1,517,000 | 1,463,000 | 1,472,000 | 1,661,000 | 1,682,000 |
| Directors Remuneration | 2,479 | 1,828 | 1,685 | 1,529 | 1,865 |
| Audit Fees | 1,675 | 1,498 | 1,561 | 1,543 | 1,247 |
| Non-Audit Fees | 1,362 | 660 | 932 | 1,801 | 4,142 |
| Depreciation | 677,000 | 669,000 | 726,000 | 762,000 | 712,000 |
| Average Number of Employees (actual) | 49,490 | 51,939 | 57,014 | 61,460 | 62,175 |
| [3] Tangible Assets consist of | |||||
| Fixed Assets | 8,152,000 | 8,637,000 | 9,487,000 | 10,474,000 | 10,662,000 |
| Intermediate Assets | 204,000 | 531,000 | 524,000 | 489,000 | 426,000 |
| which includes: | |||||
| -Due from Group, Non-Current | 0 | 0 | 0 | 0 | 0 |
| [4] Miscellaneous Current Assets includes: | |||||
| -Due from Group, Current | 0 | 42,000 | 38,000 | 43,000 | 39,000 |
| [5] Creditors: Amounts falling due within one year consists of: | |||||
| Trade Creditors | 897,000 | 840,000 | 982,000 | 1,091,000 | 1,211,000 |
| a Bank Overdraft | 0 | 0 | 0 | 0 | 3,000 |
| Miscellaneous Current Liabilities includes: | 2,083,000 | 2,156,000 | 1,922,000 | 2,110,000 | 2,094,000 |
| b -Bank Loans - Current Portion | 63,000 | 102,000 | 57,000 | 55,000 | 0 |
| c Other Short-Term Finance, including: | 496,000 | 612,000 | 513,000 | 649,000 | 514,000 |
| -Due to Group, Current | 0 | 32,000 | 27,000 | 25,000 | 30,000 |
| -Due to Directors, Current | 0 | 0 | 0 | 0 | 0 |
| -Other Current Liabilities | - | - | - | - | - |
| Short-Term Loans (a+b+c) | 559,000 | 714,000 | 570,000 | 704,000 | 517,000 |
| [6] Total Long-Term Liabilities consists of: | |||||
| Long-Term Loans, which consists of: | 4,053,000 | 5,160,000 | 6,281,000 | 6,861,000 | 6,581,000 |
| -Long-Term Bank Loans | 794,000 | 802,000 | 934,000 | 1,122,000 | 919,000 |
| -Other Long-Term Finance including: | 3,259,000 | 4,358,000 | 5,347,000 | 5,739,000 | 5,662,000 |
| -Due to Group, Non-Current | 0 | 0 | 0 | 0 | 0 |
| -Due to Directors, Non-Current | 0 | 0 | 0 | 0 | 0 |
| Other Long-Term Liabilities | 1,838,000 | 1,758,000 | 1,657,000 | 1,584,000 | 1,688,000 |
| [7] Share Capital and Reserves consists of: | |||||
| Called-up Share Capital | 271,000 | 271,000 | 271,000 | 271,000 | 271,000 |
| Sundry Reserves | 762,000 | 757,000 | 788,000 | 788,000 | 788,000 |
Ratios (31/03/2005 -
31/03/2001)
| Date of Accounts | 31/03/2005 | 31/03/2004 | 31/03/2003 | 31/03/2002 | 31/03/2001 |
|---|---|---|---|---|---|
| Acid Ratio | 0.91 | 0.90 | 0.91 | 0.77 | 0.72 |
| Profit/Capital Employed | 4.97 | 2.53 | 1.35 | -1.91 | 1.44 |
| Current Liquidity | 0.94 | 0.92 | 0.94 | 0.80 | 0.77 |
| Profit/Sales (%) | 5.31 | 3.04 | 1.76 | -2.40 | 1.62 |
| Interest Burden | 39.68 | 54.81 | 69.66 | 214.94 | 72.17 |
| Stock Turnover (days) | 3.92 | 3.67 | 4.13 | 4.77 | 6.69 |
| Days Sales Outstanding (DSO) | 32.00 | 32.64 | 28.34 | 33.79 | 33.56 |
| Cash Cycle (days) | 35.93 | 36.31 | 32.47 | 38.56 | 40.25 |
| Days Purchases Outstanding (DPO) | 45.88 | 43.75 | 49.35 | 48.03 | 50.48 |
| Creditor Days | 41.91 | 40.56 | 46.62 | 47.75 | 47.64 |
| Profit/Total Assets (%) | 3.66 | 1.90 | 1.05 | -1.46 | 1.10 |
| Profit/ Shareholders Funds (%) | 16.84 | 10.52 | 6.56 | -9.92 | 7.07 |
| Sales/Total Assets (%) | 68.92 | 62.47 | 59.60 | 61.05 | 67.73 |
| Sales/Fixed Assets | 0.96 | 0.88 | 0.81 | 0.80 | 0.87 |
| Working Capital/Sales (%) | -2.43 | -3.06 | -2.33 | -7.70 | -8.17 |
| Total Debt/Net worth (%) | 202.73 | 290.94 | 361.72 | 403.25 | 344.40 |
| Shareholders Funds/Total Assets | 0.22 | 0.18 | 0.16 | 0.15 | 0.15 |
| Long-term Debt/Net Worth (%) | 178.15 | 255.57 | 331.63 | 365.72 | 319.31 |
| Interest/Pre-interest Profit | 39.68 | 54.81 | 69.66 | 214.94 | 72.17 |
| Total Debt/Working Capital (%) | -24.27 | -25.43 | -38.27 | -11.78 | -9.36 |
| Average Employee Remuneration (£) | 30,653 | 28,168 | 25,818 | 27,026 | 27,053 |
| Wages/Sales (%) | 19.42 | 19.35 | 19.15 | 19.92 | 18.13 |
| Profit per Employee (£) | 8,386 | 4,428 | 2,368 | -3,254 | 2,413 |
| Sales per Employee (£) | 157,870 | 145,555 | 134,844 | 135,698 | 149,224 |
| Capital Employed per Employee (£) | 168,842 | 175,302 | 175,325 | 170,208 | 167,109 |
| Total Fixed Assets per Employee (£) | 172,681 | 179,749 | 178,465 | 180,654 | 179,300 |
| Total Assets per Employee (£) | 229,056 | 232,985 | 226,260 | 222,291 | 220,314 |
| Creditors/Debtors | 1.31 | 1.24 | 1.64 | 1.41 | 1.42 |
| Debtors/Total Assets (%) | 6.04 | 5.59 | 4.63 | 5.65 | 6.23 |
| Current Liabilities/Stocks | 35.48 | 39.42 | 33.38 | 29.37 | 19.46 |
| Exports/Sales (%) | - | - | - | - | - |
| Sales/Audit Fees | 4,664.48 | 5,046.73 | 4,925.05 | 5,405.06 | 7,440.26 |
| Total Assets/ Audit Fees | 6,767.76 | 8,078.10 | 8,263.93 | 8,854.18 | 10,984.76 |
Profit & Loss Account (31/03/2000 -
31/03/1996)
| Date of Accounts | 31/03/2000 | 31/03/1999 | 31/03/1998 | 31/03/1997 | 31/03/1996 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Audit Qual./Comment | No | No | No | No | No |
| Turnover [1] | 8,940,000 | 8,892,000 | 8,642,000 | 8,359,000 | 7,760,000 |
| Cost of Sales | 8,679,000 | 8,273,000 | 7,978,000 | 7,663,000 | 6,903,000 |
| Gross Profit | 261,000 | 619,000 | 664,000 | 696,000 | 857,000 |
| Operating Profit [2] | -19,000 | 353,000 | 548,000 | 562,000 | 746,000 |
| Non-Trading Income | 369,000 | 196,000 | 302,000 | 348,000 | 159,000 |
| Interest Payable | 345,000 | 324,000 | 270,000 | 270,000 | 320,000 |
| Pre-Tax Profit | 5,000 | 225,000 | 580,000 | 640,000 | 585,000 |
| Taxation | 15,000 | 19,000 | 133,000 | 90,000 | 112,000 |
| Profit After Tax | -10,000 | 206,000 | 447,000 | 550,000 | 473,000 |
| Dividends Payable | - | - | - | - | - |
| Retained Profit | -216,000 | 15,000 | 284,000 | 399,000 | 342,000 |
| Value Added | 2,604,160 | 2,816,784 | 2,851,048 | 2,790,240 | 2,780,200 |
Balance Sheet (31/03/2000 -
31/03/1996)
| Date of Accounts | 31/03/2000 | 31/03/1999 | 31/03/1998 | 31/03/1997 | 31/03/1996 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Tangible Fixed Assets [3] | 10,861,000 | 10,241,000 | 9,055,000 | 8,302,000 | 7,357,000 |
| Intangible Assets | - | - | - | - | - |
| Total Fixed Assets | 10,923,000 | 10,241,000 | 9,055,000 | 8,302,000 | 7,357,000 |
| Stocks | 78,000 | 84,000 | 75,000 | 78,000 | 104,000 |
| Trade Debtors | 889,000 | 905,000 | 853,000 | 983,000 | 990,000 |
| Cash | 103,000 | 112,000 | 50,000 | 76,000 | 48,000 |
| Miscellaneous Current Assets [4] | 1,522,000 | 1,482,000 | 1,267,000 | 1,027,000 | 1,542,000 |
| Total Current Assets | 2,592,000 | 2,583,000 | 2,245,000 | 2,164,000 | 2,684,000 |
| Creditors: Amounts falling due within one year [5] | 3,366,000 | 3,048,000 | 2,821,000 | 3,160,000 | 2,824,000 |
| Total Assets less Current Liabilities | 10,149,000 | 9,776,000 | 8,479,000 | 7,306,000 | 7,217,000 |
| Total Liabilities | 10,368,000 | 9,469,000 | 7,979,000 | 7,482,000 | 7,547,000 |
| Share Capital & Reserves [7] | 1,055,000 | 1,032,000 | 910,000 | 816,000 | 711,000 |
| P & L Account Reserve | 1,807,000 | 2,033,000 | 2,117,000 | 1,871,000 | 1,481,000 |
| Revaluation Reserve | 285,000 | 290,000 | 294,000 | 297,000 | 302,000 |
| Shareholders Funds | 3,147,000 | 3,355,000 | 3,321,000 | 2,984,000 | 2,494,000 |
| Capital Employed | 10,149,000 | 9,776,000 | 8,479,000 | 7,306,000 | 7,217,000 |
| Net Worth | 3,085,000 | 3,355,000 | 3,321,000 | 2,984,000 | 2,494,000 |
| Working Capital | -774,000 | -465,000 | -576,000 | -996,000 | -140,000 |
| Contingent Liabilities | 254,000 | 182,000 | 115,000 | 94,000 | 97,000 |
Cash Flow (31/03/2000 -
31/03/1996)
| Date of Accounts | 31/03/2000 | 31/03/1999 | 31/03/1998 | 31/03/1997 | 31/03/1996 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| Net Cash Flow from Operating Activities | 1,186,000 | 1,241,000 | 736,000 | 1,212,000 | 1,424,000 |
| Net Cash Flow from Return on Investment and Servicing of Finance | -513,000 | -411,000 | -405,000 | -308,000 | -362,000 |
| Net Cash Flow before Financing | 316,000 | 303,000 | 343,000 | 421,000 | 253,000 |
| Net Cash Flow from Financing | -319,000 | -235,000 | -372,000 | -392,000 | -259,000 |
| Increase in cash | -3,000 | 68,000 | -29,000 | 29,000 | -6,000 |
Accounts Notes (31/03/2000 -
31/03/1996)
| Date of Accounts | 31/03/2000 | 31/03/1999 | 31/03/1998 | 31/03/1997 | 31/03/1996 |
| Consolidated | Y | Y | Y | Y | Y |
| Subsidiary | N | N | N | N | N |
| No. of Weeks | 52 | 52 | 52 | 52 | 52 |
| Currency | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) | (GBP '000) |
| [1] Exports | - | - | - | - | - |
| [2] Operating Profit is after charging the following | |||||
| Employees Remuneration | 1,790,000 | 1,671,000 | 1,587,000 | 1,560,000 | 1,425,000 |
| Directors Remuneration | 3,324 | 1,325 | 1,264 | 1,681 | 1,999 |
| Audit Fees | 1,275 | 1,218 | 1,149 | 1,099 | 1,153 |
| Non-Audit Fees | 1,964 | 1,940 | 2,413 | 1,841 | 1,198 |
| Depreciation | 647,000 | 619,000 | 551,000 | 506,000 | 461,000 |
| Average Number of Employees (actual) | 65,157 | 63,779 | 60,675 | 58,210 | 55,296 |
| [3] Tangible Assets consist of | |||||
| Fixed Assets | 10,294,000 | 9,839,000 | 8,667,000 | 7,588,000 | 6,826,000 |
| Intermediate Assets | 567,000 | 402,000 | 388,000 | 714,000 | 531,000 |
| which includes: | |||||
| -Due from Group, Non-Current | 12,000 | 12,000 | 11,000 | 11,000 | 0 |
| [4] Miscellaneous Current Assets includes: | |||||
| -Due from Group, Current | 33,000 | 22,000 | 10,000 | 9,000 | 19,000 |
| [5] Creditors: Amounts falling due within one year consists of: | |||||
| Trade Creditors | 1,159,000 | 1,010,000 | 1,000,000 | 983,000 | 1,024,000 |
| a Bank Overdraft | 5,000 | 11,000 | 17,000 | 14,000 | 15,000 |
| Miscellaneous Current Liabilities includes: | 2,202,000 | 2,027,000 | 1,804,000 | 2,163,000 | 1,785,000 |
| b -Bank Loans - Current Portion | 18,000 | 0 | 0 | 104,000 | 0 |
| c Other Short-Term Finance, including: | 557,000 | 592,000 | 358,000 | 454,000 | 346,000 |
| -Due to Group, Current | 27,000 | 35,000 | 2,000 | 3,000 | 1,000 |
| -Due to Directors, Current | 0 | 0 | 0 | 0 | 0 |
| -Other Current Liabilities | - | - | - | - | - |
| Short-Term Loans (a+b+c) | 580,000 | 603,000 | 375,000 | 572,000 | 361,000 |
| [6] Total Long-Term Liabilities consists of: | |||||
| Long-Term Loans, which consists of: | 6,565,000 | 6,182,000 | 5,024,000 | 4,202,000 | 4,623,000 |
| -Long-Term Bank Loans | 903,000 | 882,000 | 772,000 | 584,000 | 738,000 |
| -Other Long-Term Finance including: | 3,259,000 | 4,358,000 | 5,347,000 | 5,739,000 | 5,662,000 |
| -Due to Group, Non-Current | 0 | 0 | 0 | 0 | 0 |
| -Due to Directors, Non-Current | 0 | 0 | 0 | 0 | 0 |
| Other Long-Term Liabilities | 437,000 | 239,000 | 134,000 | 120,000 | 100,000 |
| [7] Share Capital and Reserves consists of: | |||||
| Called-up Share Capital | 270,000 | 268,000 | 260,000 | 251,000 | 240,000 |
| Sundry Reserves | 785,000 | 764,000 | 650,000 | 565,000 | 471,000 |
Ratios (31/03/2000 -
31/03/1996)
| Date of Accounts | 31/03/2000 | 31/03/1999 | 31/03/1998 | 31/03/1997 | 31/03/1996 |
|---|---|---|---|---|---|
| Acid Ratio | 0.75 | 0.82 | 0.77 | 0.66 | 0.91 |
| Profit/Capital Employed | 0.05 | 2.30 | 6.84 | 8.76 | 8.11 |
| Current Liquidity | 0.77 | 0.85 | 0.80 | 0.68 | 0.95 |
| Profit/Sales (%) | 0.06 | 2.53 | 6.71 | 7.66 | 7.54 |
| Interest Burden | 98.57 | 59.02 | 31.76 | 29.67 | 35.36 |
| Stock Turnover (days) | 3.18 | 3.45 | 3.17 | 3.41 | 4.89 |
| Days Sales Outstanding (DSO) | 36.30 | 37.15 | 36.03 | 42.92 | 46.57 |
| Cash Cycle (days) | 39.48 | 40.60 | 39.19 | 46.33 | 51.46 |
| Days Purchases Outstanding (DPO) | 48.74 | 44.56 | 45.75 | 46.82 | 54.14 |
| Creditor Days | 47.32 | 41.46 | 42.24 | 42.92 | 48.16 |
| Profit/Total Assets (%) | 0.04 | 1.75 | 5.13 | 6.12 | 5.83 |
| Profit/ Shareholders Funds (%) | 0.16 | 6.71 | 17.46 | 21.45 | 23.46 |
| Sales/Total Assets (%) | 66.15 | 69.34 | 76.48 | 79.87 | 77.28 |
| Sales/Fixed Assets | 0.87 | 0.90 | 1.00 | 1.10 | 1.14 |
| Working Capital/Sales (%) | -8.66 | -5.23 | -6.67 | -11.92 | -1.80 |
| Total Debt/Net worth (%) | 231.60 | 202.24 | 162.57 | 159.99 | 199.84 |
| Shareholders Funds/Total Assets | 0.23 | 0.26 | 0.29 | 0.29 | 0.25 |
| Long-term Debt/Net Worth (%) | 212.80 | 184.26 | 151.28 | 140.82 | 185.36 |
| Interest/Pre-interest Profit | 98.57 | 59.02 | 31.76 | 29.67 | 35.36 |
| Total Debt/Working Capital (%) | -9.23 | -14.59 | -9.37 | -4.79 | -35.60 |
| Average Employee Remuneration (£) | 27,472 | 26,200 | 26,156 | 26,800 | 25,770 |
| Wages/Sales (%) | 20.02 | 18.79 | 18.36 | 18.66 | 18.36 |
| Profit per Employee (£) | 77 | 3,528 | 9,559 | 10,995 | 10,579 |
| Sales per Employee (£) | 137,207 | 139,419 | 142,431 | 143,601 | 140,336 |
| Capital Employed per Employee (£) | 155,762 | 153,279 | 139,745 | 125,511 | 130,516 |
| Total Fixed Assets per Employee (£) | 167,641 | 160,570 | 149,238 | 142,622 | 133,048 |
| Total Assets per Employee (£) | 207,422 | 201,069 | 186,238 | 179,797 | 181,586 |
| Creditors/Debtors | 1.30 | 1.12 | 1.17 | 1.00 | 1.03 |
| Debtors/Total Assets (%) | 6.58 | 7.06 | 7.55 | 9.39 | 9.86 |
| Current Liabilities/Stocks | 43.15 | 36.29 | 37.61 | 40.51 | 27.15 |
| Exports/Sales (%) | - | - | - | - | - |
| Sales/Audit Fees | 7,011.76 | 7,300.49 | 7,521.32 | 7,606.01 | 6,730.27 |
| Total Assets/ Audit Fees | 10,600.00 | 10,528.74 | 9,834.64 | 9,523.20 | 8,708.59 |
Growth Rates
| 1 year | 2 year | 3 year | 4 year | |
| Turnover | 3.3 | 1.6 | -6.3 | -15.8 |
| Pre-tax Profit | 80.4 | 207.4 | - | 176.7 |
| Audit Fees | 11.8 | 7.3 | 8.6 | 34.3 |
| Directors Remuneration | 35.6 | 47.1 | 62.1 | 32.9 |
| Number of Employees | -4.7 | -13.2 | -19.5 | -20.4 |
| Employees Remuneration | 3.7 | 3.1 | -8.7 | -9.8 |
| Fixed Assets | -5.6 | -14.1 | -22.2 | -23.5 |
| Tangible Assets | -8.9 | -16.5 | -23.8 | -24.6 |
| Total Fixed Assets | -8.5 | -16.0 | -23.0 | -23.3 |
| Stocks | 10.5 | -3.4 | -22.9 | -50.6 |
| Trade Debtors | 1.3 | 14.7 | -11.3 | -19.7 |
| Total Current Assets | 0.9 | 2.4 | 9.0 | 9.4 |
| Total Assets | -6.3 | -12.1 | -17.0 | -17.2 |
| Trade Creditors | 6.8 | -8.7 | -17.8 | -25.9 |
| Short-Term Loans | -21.7 | -1.9 | -20.6 | 8.1 |
| Total Current Liabilities | -0.5 | 2.6 | -6.9 | -9.9 |
| Net Cash | 21.9 | -64.9 | 21.9 | 14.7 |
| Shareholders Funds | 12.7 | 19.8 | 22.3 | 16.2 |
| Net Worth | 12.7 | 20.1 | 21.3 | 10.4 |
| Long-Term Loans | -21.5 | -35.5 | -40.9 | -38.4 |
| Long-Term Liabilities | -14.8 | -25.8 | -30.2 | -28.8 |
| Capital Employed | -8.2 | -16.4 | -20.1 | -19.6 |
Company/Industry Comparison
| This comparison is based on the results of 58 companies in the same industrial sector: 62101 Scheduled passenger air transport | ||||
| Company | Industry Averages | |||
|---|---|---|---|---|
| 31/03/2005 | Lower | Median | Upper | |
| Performance | ||||
| Profit/Sales (%) | 5.31 | 0.13 | 1.64 | 4.15 |
| Profit/Capital Employed (%) | 4.97 | 0.98 | 4.88 | 13.24 |
| Profit/Total Assets (%) | 3.66 | 0.13 | 1.90 | 4.59 |
| Profit/Shareholders Funds (%) | 16.84 | 5.89 | 11.15 | 28.73 |
| Turnover | ||||
| Sales/Total Assets (%) | 68.92 | 62.47 | 123.79 | 193.19 |
| Sales/Fixed Assets (%) | 0.96 | 1.65 | 4.00 | 15.71 |
| Working Capital/Sales (%) | -2.43 | 1.30 | -3.06 | -15.56 |
| Stock Turnover (days) | 3.92 | 7.00 | 5.00 | 2.00 |
| Credit Period (days) | 32.00 | 32.64 | 22.61 | 12.19 |
| Creditor Days | 41.91 | 40.56 | 24.19 | 16.16 |
| Liquidity | ||||
| Current Ratio | 0.94 | 0.60 | 0.88 | 1.03 |
| Liquidity Ratio | 0.91 | 0.53 | 0.84 | 0.98 |
| Gearing | ||||
| Total Debt/Net Worth (%) | 202.73 | 309.26 | 188.32 | 47.33 |
| Shareholders Funds/Total Assets | 0.22 | 0.10 | 0.18 | 0.32 |
| Long Term Debt/Net Worth (%) | 178.15 | 269.79 | 130.63 | 5.39 |
| Interest/Pre-interest Profit | 39.68 | 54.81 | 25.36 | 5.70 |
| Total Debt/Working Capital | -24.27 | - | - | - |
| Employee | ||||
| Average Employee Remuneration (£) | 30,653 | 23,273 | 25,259 | 31,053 |
| Wages/Sales (%) | 19.42 | 19.35 | 14.35 | 11.64 |
| Profit per Employee (£) | 8,386 | 300 | 3,361 | 9,959 |
| Sales per Employee (£) | 157,870 | 146,293 | 183,370 | 237,506 |
| Capital Employed per Employee (£) | 168,842 | 21,691 | 51,576 | 175,302 |
| Total Fixed Assets per Employee (£) | 172,681 | 27,320 | 67,252 | 173,502 |
| Total Assets per Employee (£) | 229,056 | 85,872 | 121,944 | 242,636 |
| Other | ||||
| Creditors/Debtors | 1.31 | 0.48 | 1.24 | 2.32 |
| Debtors/Total Assets (%) | 6.04 | 2.63 | 5.72 | 10.61 |
| Current Liabilities/Stocks | 35.48 | 13.90 | 23.98 | 74.16 |
| Exports/Sales (%) | - | - | - | - |
| Sales/Audit Fees | 4,664.48 | 1,277.16 | 3,950.09 | 6,696.80 |
| Total Assets/Audit Fees | 6,767.76 | 694.30 | 3,212.64 | 6,624.50 |