In a conference call to financial market analysts, the medical device manufacturer’s finance director, Peter Hooley, restated key figures from its 2003 accounts. He demonstrated that adjusted earnings per share fell just 1.5% that year under IFRS and was likely to fall only 1% in 2004.
He also announced that the move to the new accounting standards would have a neutral effect on cashflow, with the same applying for many of the key performance indicators.
Following on from today’s announcement, the company will publish its preliminary 2004 results on 3 February next year alongside a ‘quantification’ of IFRS on those results. But Hooley assured investors: ‘There will be very little change in the numbers for 2004’.
In March, the company will publish a booklet with its revised accounting policies, reconciliations between UK GAAP and IFRS and restated income, and balance sheets for 2003 and 2004. Smith & Nephew will publish its Q1 2005 results in IFRS in May.
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.