Which section (A, B, C or D) does each statement (1-8) refer to? Match each statement with one letter.
1. Some of this company's outlets were affected by competition from its own new outlets.
2. This company expects the number of companies in its sector to be reduced 3. Not all of this company's competitors are increasing their turnover.
4. This company has had to allow for covering a loss made on a particular contract.
5. This company has paid off the money it owed.
6. It is likely that this company will make more money on reduced sales revenue.
7. Some of this company's outlets will be required to change their name.
8. This company has decided against going ahead with a plan.
continued earnings growth will become increasingly challenging.
B SHERIFF
This is a momentous period for the pharmaceutical industry. Against the background of scientific and economic change, we are seeing inevitable further consolidation of what remains one of the most fragmented of the great global industries. Sheriff will not shrink from participating in this process if circumstances necessitate such action in the interests of future success. However, today, the overwhelming preoccupation of your Board,executive management and staff is with the job at hand, which is to grow the business and deliver the promises we have made in terms of turning around our losses of recent years.
C. BVL
Profit before taxation was £20m, in comparison with the £32m achieved in the previous year. This disappointing result includes a provision of £26m on one project, due to costs exceeding the guaranteed maximum price quoted to the client. One result is that the Contribution Division has been set targets to increase the level of partnering and fee work.Turnover, already stagnant, may decline, but profits are expected to recover. In addition.improvements will be made to control processes relating to tendering, and to the quality of
project management.D. MARTIN'S
Martin's has developed a distinctive retail format based on convenient locations for the shopper. Last year's merger of Martin's and Hoyle has provided us with the opportunity to build on our leadership in this neighborhood retail market. Building awareness of Martin's brand continues, and its visibility and familiarity will grow as we convert Hoyle into Martin's operations. In line with our vision, we aim to set the pace in developing new shopping services and channels such as home and office shopping.
E. TAYLOR'S
Despite a downturn in consumer confidence during the period, we continued the experienced positive like-for-like sales growth for the financial year, unlike may others in our peer group. Encroachment by our new openings on 38 of our established restaurants had a 3% negative effect on like-for-like sales, but this percentage is certain to be reduced. Since the year-end, our like-for-like sales trend continues to be positive. We have changed a net debt position of £11.2m this time last year to net cash of £1.7m this year.
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