Ass#1
Step 2:
My firm’s Annual report:
This is a link, which takes you to where
the Annual reports are downloaded.
2012:
2013:
2014:
Understanding of what my company is:
The company that I have been assigned for
Ass#1 is The PTB Group. They are a business that was first formed in 2001 in
Brisbane, Queensland. The company was incorporated to acquire the assets of
Pacific Turbine Group. The PTB Group main roles are to supply aviation parts
and to also service different types of Airplanes. This means that they will
service the Airplanes so they are fit for travel and also supply a range of
parts for aviation vehicles such as engines. The PTB group also has a lot of
sub divisions in the company as a whole such as Emerald Assets and IAP Group
these groups work in conjunction with the PTB Group by offering their different
ranges of skills and location to further PTB groups company.
What I’ve gathered from my annual reports
is a lot of interesting information. I can see in the report that the Emerald’s
Assets Business has grown a lot in a year due to good sales of Airplanes.
Because of engine sales the IAP business has also improved a lot drastically
and the business says that selling engines will be the main form of income in
2015.
What I also found interesting about PTB
group was how they are dealing with their debt. They have paid down 1.574 million dollars worth of debt that at the end
of the 2014 finical year was 4.1 million. The Emerald division has had a great
year with debt and have put in a plan to use their improved asset utilization
and their reduced ongoing costs to be able to pay back there loan repayments in
under 4 years. With these debts disappearing quickly the company is looking to
pay regular cash dividends and research the best way to use the $11.020 million
franking credits for the people who have invested in the company.
PTB Group is
gaining a lot of success in the 2014 with the company having a total net profit
before tax of $3.251 Million that is an increase of around $807000.00 compared
to last years figure of $2.444 million. This is a large profit in just one year
that the company should be very happy with.
Things I’m having difficulty understanding:
-
A lot of the
terminology that they are using in the annual report is very hard to
understand. I have found myself looking up what words mean to be able to
understand the report and the points it is trying to get across.
-
Reading the
Consolidated Statement of financial position in the annual report. Some of
these were extremely hard to understand and it does take a while to be able to
process what the information on these tables was saying.
-
Trying to understand
the statements such as financial, income and equity statements.
Areas of the business that are most
important:
-
The statements of
Comprehensive income, financial position and the changes of equity.
-
The director’s report
in the Annual report.
-
There position on the
stock exchange.
Key challenges the firm faces:
-
Debt, although the firm
is doing well in paying back what they owe there still seems to be a significant
amount of monies till owing for the company.
-
There was also a
reduction in cash flow compared to 2013
-
Very well set out Sam, I like it! For your tables, have you included any formulas in any of the cells or have you just copied the figures? Adding formulas shows to the marker that you understand how all of the figures relate. I honestly dont have any advise to offer except keep on that track!
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