The financial statements of Sprinto Ltd. are as follows for the year ended

Analyse the performance of Sprinto Ltd. as far as the above information permits.

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Year ended Year ended Income statement for 31.12.20X1 31.12.20X2 £'000 £'000 £'000 £'000 972 Sales 584 Opening inventory 31 47 Purchases 405 700 436 747 47 Closing inventory 389 62 685 Gross profit 195 287 Wages and salaries 78 101 Depreciation 16 31 Debenture interest 202 Other expenses 54 148 62 Net profit before tax 47 85 Taxation 16 39 Net profit after tax 31 46 Proposed dividend 16 23 Retained profit for year 15 23 31.12.20X1 31.12.20X1 31.12.20X2 31.12.20X2 Non-current assets 280 428 Current assets Inventory 47 62 Trade receivables 70 156 Bank 39 16 156 234 Trade payables less than one year Trade payables 39 109 Taxation 16 39 Dividends due to be paid 16 23 71 171 Net current assets 85 63 Trade payables greater than one year 10% debentures 80 365 411 Financed by: Ordinary share capital 272 295 Retained profits 93 116 365 411