Shareholders” and/or “Management Discussion of the Company” given in the Annual Report. What does the management conclude about the company’s financial conditions? What are the primary indicators of the company’s financial strength in the eyes management?
1) Letter to the Shareholders
Dear shareholders,
This year has a lot of issues such as acceleration of convergence of t
To our Shareholders, Associates and Customers: Let me begin by expressing how proud I am of everything our Associates have accomplished during the fiscal year ended January 31, 2004. Wal-Mart generated over $256 billion in global revenue, establishing a new record and adding more than $26 billion in sales. Your Company earned almost $9.1 billion in net income and grew earnings per share by over 1
financial data.)
As Immelt took on one of the biggest management jobs in the world, some wondered whether
GE’s vaunted management development process had prepared him to lead such a complex
organization. But for the new CEO, the bigger question was, how could he ensure that GE’s talent
machine kept developing executives who could continue driving the company’s superior
performance?
항공여행의 수요도 상승 및 외국기업인의 산업의 거대이윤발생 시장을 자본화 시키고자 설립함.
■ 설립자 : mr. chao
■ Number Of Staff : 2,707 as of 31 March 2005
■ Major Shareholders
China National Aviation Company Ltd.43.29%
CITIC Pacific Ltd.28.50%
Cathay Pacific Airways Ltd.17.79%
Swire Pacific Ltd.7.71%
Others2.71
shareholders above their required rate of return. So only when ROI(or ROCE) exceeds WACC(or required rate of return), it could create economic values. Namely, profitability of the investment should be higher than the cost of the invested capital which a company incur to the lenders and shareholders. So ROCE is one of the main drivers of EVA but ROCE doesn’t reflect the cost of the capital.
One