Ex. 5.15 a.b.c.
Profitability:
Liquidity:
The current ratio at 31 December 2009, was approximately 1.6-to-1, up from
1.4-to-1 reported at the end of the previous year. Net cash from operating
activities for the year ended 31 December 2009, were €1,198 million, up from €
497 million reported in the previous year.
The company uses straight-line depreciation as discussed in the Summary of
Significant Accounting Policies section of the notes accompanying the financial
statements.
Profit after tax ended 31 December 2009, was €245 million, which was €397
million less than the year ended 31 December 2008. Gross profit as a
percentage of sales for the year ended 31 December 2009 was 45.4%, which
was 3.3% less than that of the previous year reported. Profit as a percentage of shareholder investment for the year ended 31 December 2009, was 2.4%.Revenue from sales are recognised at the fair value of the consideration
received or receivable, net of returns, trade discounts and volume rebates,
when the significant risks and rewards of ownership of the goods are
transferred to the buyer, and when it is probable that the economic benefits
associated with the transaction will flow to the Group.
? The McGraw-Hill Companies, Inc., 2010
E5.15