Shell and AstraZeneca, two of the biggest FTSE100 companies, presented their first numbers under new international accounting standards today, and morning trading suggests that the market has responded confidently to the new figures.
Pharmaceutical company AstraZeneca, the makers of Nolvadex and Exanta, reported a 34% increase in operating profit at constant exchange rates.
The drug company saw Q1 operating profits increase from $1.05bn in 2004 to $1.4bn in 2005. The 2004 figures had been restated under IFRS for comparative purposes. The company’s share price responded positively, climbing from just under 2,300p to around 2,350p.
Shell, meanwhile, reported a 42% increase in income for Q1 2005. The oil behemoth’s income rose from $4.7bn in Q1 2004 to $6.7bn in 2005. The company was also using restated 2004 IFRS accounts for its comparisons. Shell’s share price traded in around the 467.5p to 470p range after the announcement.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.