Appendix Debenhams plc 2014

Issues Text has stressed importance of: Any report must respect these ratios as a means to an end interpretation informed by as wide a frame of reference as possible accounting as an aid to decision-making Any report must respect these Importance of being sensitive to: likely users decision-making context Appendix © Philip O’Regan 2016

Typical report Reports contain some or all of the following: Background SWOT analysis Financial analysis management efficiency (activity + liquidity) financing profitability Governance Strategic objectives Other relevant issues Conclusion – e.g. buy/sell/hold Supporting appendices Appendix © Philip O’Regan 2016

Debenhams plc 2014 Executive Summary Major retailer: Revenue: £2.312b Pre-tax Profits: £105.8m Strong UK and growing European presence Increasing activity in online sales Coherent and flexible strategy Strong management team Excellent CSR record Footfall challenges shared with other retailers Growing international revenue Appendix © Philip O’Regan 2016

Debenhams plc 2014 ratios Appendix © Philip O’Regan 2016

Other perspectives Environmentalists (or community groups) might be more interested in the following: Government’s cheap clothing policy problematic Excellent record on “sustainability”, supply chain Good record on health and safety issues Property portfolio needs to be developed Appendix © Philip O’Regan 2016

Summary Nature / content of report depends on users Investors and environmentalists have different perspectives and agendas Most reports will have standard sections Important that report be: focused relevant to users contextual aid to decision-making function Appendix © Philip O’Regan 2016