The directors of Helena Beauty Products Ltd have been presented with the following abridged financial statements:

Income statement for the year ended 30 September 2013 2014

£000 £000 £000 £000 Sales revenue 3,600 3,840 Cost of sales Opening inventories 320 400 Purchases 2,240 2,350 2,560 2,750 Closing inventories ( 400 ) ( 2,160 ) ( 500 ) ( 2,250 )

Gross profit 1,440 1,590 Expenses ( 1,360 ) ( 1,500 )

Profit 80 90 Statement of financial position as at 30 September 2013 £000 2014 £000 ASSETS Non-current assets Property, plant and equipment 1,900 1,860 Current assets Inventories 400 500 Trade receivables 750 960 Cash at bank 8 4 1,158 1,464 Total assets 3,058 3,324 EQUITY AND LIABILITIES Equity £1 ordinary shares 1,650 1,766 Retained earnings 1,018 1,108 2,668 2,874 Current liabilities 390 450 Total equity and liabilities 3,058 3,324 Required:
Using six ratios, comment on the profitability (three ratios) and efficiency (three ratios) of the business as revealed by the statements shown above.