英国国际会计研究生论文.doc

Stock Watch Target Price: 468.90p 52 Week high: 670.00p 52 Week low : 365.75p EPS : 40.4p Recommendation: BUY FTSE100Key Financial Data(￡m) FTSE100 07 08f 09f 10f Total Revenue 8588.1 9275.1 10017.1 10818.1 Operating profit 1044 1205.76 1302.23 1406.36 Profit for the year 656.39 740.91 798.79 861.27 Retained Profit 395.79 444.51 479.29 534.77 The extension of international Business will increase the company’s revenue growth. Marks and Spencer Group plc (Marks Spencer) has acquired 50 per cent of Marks Spencer Marinopoulos BV which operates 38 Marks Spencer stores in Greece, a number of Balkan states, including Romania and Bulgaria, and Switzerland.?The joint venture plans to open up to 50 new stores in these markets over the next few years. This announcement is in line with Marks Spencer’s plans to invest in its existing franchise partners where it will facilitate a faster pace of growth and greater operating efficiency.? It will increase total revenue in the future. Significantly improvement on company’s overall performance. In year 2007/08 UK sales rose by 9.7% to ￡7.98bn (2006/07 ￡7.27bn). Food sales grew by 9.7%. General merchandise grew by 9.6% with clothing up 9.2% and home up 13.1%. Group operating margins grew to 12.2%, up from 11.0% last year. Group profit before tax rose by 28.5% to ￡965.2m (2006/07 ￡751.4m). ( HYPERLINK ) And this trend will continue in the next three years. Dramatic jump in earnings per share. From year 2004/05 to 2006/07 the earning per share increase from19.2p to 40.4p due to it’s excellent performance. This situation can attract more valuable investors now and in the future which can better monitor and encourage the company to maintain the position. Marks Spencer Group plc 2. Business Analysis 2.1 Company Profile Being founded only as a small market stall in Leeds, with over 600 stores located throughout the UK and 240 stores worldwide, including over 219 franchise business