Anne Gibson Corp.

Ratios 2007 2006 2005 2004 2003

Days sales in receivables 54.5 51.7 55.5 56 56.17
Account receivables turnover 6.75 7.08 6.6 4.34 6.5
Account receivables turnover in days 54.1 51.6 55.3 84.1 56.1
Days receivables in days 60.17 51.55 65.8 66.6 55.5
Inventory Turnover 3.98% 4.06% 3.71% 3.66% 5.53%
Inventory Turnover in Days 91.7 89.9 98.3 99.7 66
Operation Cycle 145.8 141.5 153.6 183.8 122.1
Working Capital 195,700 193,000 189,500 186,500 181,500
Current Ratio 2.78% 2.75% 2.66% 2.62% 2.57%
Acid-test Ration / Quick Ratio 1.67% 1.62% 1.55% 1.51% 1.48%
Cash Ratio 0.44% 0.44% 0.42% 0.41% 0.39%
Sales to working capital 4.52 3.21 2.9 8.25 4.51

C: Trends Indication Short-Term Liquidity

Three key variables determing the short-term Liquidity of the Anne Gibson Corporation
* Current Ration. * Quick Ratio. *Cash Ratio.

* Current Ratio: The trends indicating the poor asset management or poor working capital management of the firm throughout the five year tenure.
The company is not using its current assets efficiently. It showing poor effciency of the operating cycle of the company.
If the current ratio continues to grow stadily at this same rate, then the company can run into liquidity problems because they are unable to alleviate their obligations

Qucik Ratio: Looking at the trend in this section, the ability of the firm to use its near cash or quick assets to immeaditly extinguish is improving gradually.
hence, showing the company's liquid situation.
 AVERAGE
54.77
6.25
60.24
59.92
4.18%
89.12
149.36
189,240
2.67%
1.56%
0.42%
4.67%

ghout the five year tenure.

hey are unable to alleviate their obligations

extinguish is improving gradually.

Leverage 2007 2006
Debt : Equity ratio 1.22% 1.23%
Interest Cover ratio 2.99% 2.79%
Time Interest Earned (times) 6.86 12.73
 FINANCIAL ANALYSIS
VERTICAL ANALYSIS HORIZANTAL ANALYSIS

BALANCE SHEET - Key Items % Change BALANCE SHEET - Key Items

2007 2006 2007 2006
Property, Plant & Equipment 10.89% 10.94% -0.35% Property, Plant & Equipment 106% 100%
Stock-In-trade 39.55% 40.14% 0.59% Stock-In-trade 105% 100%
Trade Debts 18.20% 16.70% 1.50% Trade Debts 116% 100%
Cash & Cash Balances 2.04% 2.71% -0.67% Cash & Cash Balances 80% 100%
Total current Assets 83.64% 82.71% 0.93% Total current Assets 108% 100%
Total Assests 107% 100%
Total Assests 100.00% 100.00% Total Shareholders Equity 101% 100%
Trade & Other Paybles 113% 100%
Total Shareholders Equity 28.02% 29.66% -1.64% Total Current Liabilities 109% 100%

Trade & Other Paybles 55.44% 52.47% 2.97%

Short Term Borrowings 12.13% 10.90% 1.23%
Total Current Liabilities 68.76% 67.06% 1.70%

PROFIT & LOSS - Key Items % Change PROFIT & LOSS - Key Items
2007 2006 2007 2006
Sales 100% 100% Sales 117% 100%
Net Sales 85.10% 84.60% 0.50% Net Sales 117% 100%
C-O-G-S 82.10% 79.70% 2.40% Gross Profit 71% 100%
Gross Profit 2.98% 4.88% -1.90% Distribution & Marketing Expense 111% 100%
Total Operating Cost 1.46% 2.08% -0.62% Administrative Expenses 105% 100%
Profit from Operations 1.93% 3.20% -1.27% Total Operating Cost 82% 100%
Finance Cost 0.28% 0.25% 0.30% Finance Cost 131% 100%
Profit Before Taxation 1.73% 3.24% -1.51% Profit Before Taxation 62% 100%
Net Profit 1.14% 2.13% -0.99% Net Profit 62% 100%

PSO Details
Pakistan State Oil Company Limited engages in the import, storage, distribution, and marketing of petroleum and related products in Pakistan.
Its products include motor gasoline, high speed diesel, furnace oil, jet fuel, kerosene, liquefied petroleum gas, compressed natural gas, petrochemicals, and lubricants
The company serves customers in retail, industrial, aviation, marine, and government sectors. As of June 30, 2009.
Pakistan State Oil Company operated 3,620 retail outlets in Pakistan.
The company is headquartered in Karachi, Pakistan.

VERTICAL ANALYSIS
Vertical analysis express comparisons in percentages. In the above vertical analysis we see that the percentage of
C-OG-S has increased as compared to the previous year, it means that the resources are not efficiently used.
The operating expenses of the current year has increased and Gross Profit, Profit from Operations and Net Profit decreased.

HORIZANTAL ANALYSIS
Year 2006 is used as the base year for horizantal analysis.
Sales for 2007 are higher as compared to that of 2006.
C-O-G-S is also higher then that of 2006
Interest Cost & Operating Expenses are also higher as compared to the previous year which is not a goos sign for the company.
Gross Profit, Profit from Operations & Net Profit for the company has shown a negetive impact and are low in contrast to the base year.

SHORT-TERM SOLVENCY, OR LIQUIDITY, MEASURES

Three key variables determing the short-term Liquidity.

* Current Ration. * Quick Ratio. *Cash Ratio.

RATIOS 2007 2006

Current Ratio 1.22 1.24
Quick Ratio 0.64 0.63
Cash Ratio
 % Change

6%
5%
16%
-20%
8%
7%
1%
13%
9%

% Change

17%
17%
-29%
11%
5%
-18%
31%
-38%
-38%

gas, petrochemicals, and lubricants.

Financial Ratios       2008 2007 2006 2005 2004 2003

Profitability Ratios
Gross Profit ratio % 5.1 3 4.88 5.42 4.71 4.34
Net Profit ratio % 2.4 1.14 2.13 2.2 3 2.16 1.95
EBITDA margin % 4.1 2.29 3.8 41.6 3.71 3.45
Return on
Shareholders' Equity % 45.4 22.4 36.2 32.2 27.3 28.3

Return
Return on
on total assets
capital % 11.1 6.3 10.72 10.9 9.9 12.5
employed % 68.1 35.4 54.1 48.9 40.8 44.9
Asset utilisation
Inventory turnover
ratio (x) 12.7 11.7 11.5 11.2 13.1 19.7
Debtor turnover ratio (x) 24.6 32.5 37.8 39.9 40.1 35.4
Total asset turnover
ratio (x) 5.78 5.7 5.76 5.37 5.22 6.34
Fixed asset turnover
ratio (x) 74.3 52 44.4 31.7 27.5 34.8
Investment
Earning per share
Market value per Rs. (Bn) 81.94 27.3 43.9 33 24.6 23.5
share Rs. (Bn) 417.24 391.5 309 386 256.8 228.4
Break-up value Rs. (Bn) 180 121.7 121 101 90 83
(P/E) ratio (x) 5.1 14.3 7 11.6 10.4 9.7
Dps Rs. (Bn) 23.5 21 34 26 17.5 16
Bonus Share % - - - - - -
Dividend Payout % 28.68 76.8 77.5 78.8 71.3 68.1
Dividend yield % 5.63 5.36 11 6.74 6.82 7.01
Dividend cover ratio (x) 3.48 1.3 1.29 1.26 1.4 1.46
Leverage
Debt : Equity ratio - - - - - -
Interest Cover ratio (x) 16.4 6.86 12.7 25.87 34.14 23.58
Current Ratio 1.24 1.22 1.24 1.24 1.25 1.25
Quick Ratio (x) 0.57 0.64 0.63 0.62 0.66 0.79
2002 2001 2000 1999

3.72 3.27 4.2 4.54

1.75 1.15 1.65 2.31
3.47 2.23 3.23 3.51

25.7 21.1 22.3 30

9.7 7.5 7.2 10.4

46.1 34.8 38.6 39.6

18.7 18.5 16 13.1

22.5 21.5 13.7 8.5

5.79 6.4 4.79 4.22

36.3 45.8 37.3 34.4

18.6 15.8 15.6 18.7

140 132.5 163 92.5
87 75 70 75
7.5 8.4 10.4 5
13 10 10 9
20 - - 20
80.7 63.3 64.1 58.8
9.29 7.55 6.14 9.73
1.71 1.57 1.56 2.49

- - - -
9.98 10.3 11.35 12.57
1.2 1.28 1.27 1.31
0.8 0.9 0.91 1.04