| 12 Months |
|
|
|
|
04-05 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2005 |
2006 |
05-06 |
|
| to end Jan |
|
|
|
|
Year |
Feb |
Mar |
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
Year |
|
| PERFORMANCE
REVIEW |
(Annualized averages where
appropriate) |
|
|
|
| |
|
|
|
| Net
debt (cash surplus) as percentage |
|
|
|
|
| of owners' equity |
|
48
|
60
|
60
|
65
|
67
|
72
|
74
|
75
|
80
|
106
|
101
|
99
|
79
|
79 |
|
| Current asset ratio (times) |
|
1.1 |
1.2 |
1.2 |
1.3 |
1.2 |
1.2 |
1.2 |
1.1 |
1.1 |
1.2 |
1.8 |
1.8 |
2.0 |
2.0 |
|
| |
|
Avg |
|
| Accounts
receivable (days annualized sales) |
62 |
52 |
40 |
38 |
38 |
39 |
37 |
39 |
38 |
37 |
38 |
39 |
38 |
39 |
|
| Inventory
(days annualized sales) |
47 |
35 |
30 |
34 |
30 |
34 |
27 |
30 |
28 |
25 |
24 |
26 |
23 |
29 |
|
| Accounts
payable (days annualized costs) |
27 |
22 |
18 |
15 |
16 |
15 |
15 |
16 |
16 |
16 |
16 |
16 |
17 |
17 |
|
| |
|
|
|
| As % sales: |
|
|
|
| -Materials/packaging & goods |
|
50.7 |
40.1 |
40.0 |
40.0 |
40.1 |
39.9 |
40.1 |
40.0 |
40.1 |
40.1 |
40.1 |
40.1 |
40.1 |
40.0 |
|
| -Direct labor |
|
7.5 |
4.7 |
4.0 |
4.6 |
4.0 |
6.7 |
5.4 |
5.9 |
7.4 |
6.7 |
6.4 |
6.8 |
6.1 |
5.8 |
|
| -Gross margin |
|
22.4 |
36.3 |
39.4 |
36.5 |
36.6 |
31.9 |
34.7 |
32.3 |
31.9 |
34.4 |
33.3 |
31.6 |
34.4 |
34.3 |
|
| -Selling/freight expenses |
|
11.9 |
10.6 |
9.4 |
10.3 |
9.4 |
10.1 |
8.6 |
9.2 |
8.7 |
8.1 |
7.9 |
8.2 |
7.6 |
8.9 |
|
| -Income from operations |
|
(20.6) |
(1.9) |
6.3 |
(1.2) |
3.1 |
(5.4) |
4.0 |
(0.9) |
0.7 |
6.0 |
5.8 |
2.6 |
8.3 |
2.7 |
|
| -Net income before taxes |
|
(22.7) |
(3.7) |
4.6 |
(3.3) |
1.2 |
(10.1) |
2.2 |
(3.0) |
(3.4) |
3.8 |
5.1 |
0.1 |
21.8 |
2.0 |
|
| |
|
|
|
| Gross
margin breakdown ($000): |
|
|
|
| - Group1 |
|
7.4 |
8.6 |
6.7 |
8.6 |
4.5 |
9.3 |
6.3 |
8.2 |
9.9 |
9.9 |
8.7 |
10.4 |
98.5 |
|
| - Group2 |
|
6.0 |
8.4 |
7.1 |
7.2 |
7.9 |
7.4 |
7.9 |
6.8 |
8.0 |
8.1 |
7.4 |
9.2 |
91.4 |
|
| Overall
gross profit ($000) |
|
13.4
|
17.0
|
13.9 |
15.7 |
12.5
|
16.7
|
14.2
|
15.0 |
17.9
|
18.0
|
16.1
|
19.6
|
189.9 |
|
| |
|
|
|
| Gross margin as % sales: |
|
|
|
| - Group1 |
|
37.2 |
38.9 |
35.5 |
37.2 |
26.7 |
35.7 |
30.0 |
32.7 |
35.3 |
34.2 |
32.2 |
34.7 |
34.3 |
|
| - Group2 |
|
35.3 |
40.0 |
37.5 |
35.9 |
36.0 |
33.5 |
34.5 |
31.1 |
33.4 |
32.3 |
30.9 |
34.0 |
34.4 |
|
| |
|
|
|
| Average
number of employees (headcount) |
7.0 |
7.0 |
7.0 |
7.0 |
8.0 |
8.0 |
8.0 |
9.0 |
9.0 |
9.0 |
9.0 |
9.0 |
8.1 |
|
| Annualized
sales per employee ($000) |
63.4 |
73.7 |
65.1 |
73.7 |
58.5
|
72.0
|
66.0
|
62.7 |
69.3 |
72.0
|
68.0
|
76.0
|
68.4 |
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