Oak Leaf County Technologies PLC is a UK incorporated and listed company. The company's accounting period ends each year on the 31 March and financial statements for the past five years, together with some relevant data are shown below:

STATEMENT OF PROFIT AND LOSS FOR THE YEARS ENDED 31ST MARCH Year 2018 2019 2020 2021 2022 M M M M M Turnover 440 528 588 628 653 Gross Profit 120 110 105 118 120 Net Profit 59 M 68 78 86 Interest 16 15 20 24 31 Net profit before tax 43 48 48 54 55 Taxation 14 15 18 19 22 Net profit after tax 29 33 30 35 33 Dividends 10 11 12 14 15 Retained earnings 19 22 18 21 18

STATEMENT OF FINANCIAL POSITION AS AT 31ST MARCH Year 2018 2019 2020 2021 2022 M M M M M Non-current assets 194 212 223 223 221 Long term investments 13 11 14 13 13 Current assets: Inventory 160 186 198 218 248 Receivables 118 113 148 185 239 Cash 18 46 32 296 345 378 403 487 Creditors (due within 1 year): Payables 107 132 138 196 261 Bank overdraft 62 81 104 44 51 Taxation payable 16 14 15 18 19 Dividends 9 10 11 13 14 194 237 268 271 345 Net current assets 102 108 110 132 142 14% Redeemable Debentures 2023 66 66 66 66 66 Net total assets 243 265 281 302 320 FINANCED BY; Share capital 195 195 195 195 195 Revenue reserves 48 70 86 107 125 243 265 281 302 320

DATA Year 2018 2019 2020 2021 2022 Number of shares in issue 195M 195M 195M 195M 195M Average share price(p) 184 267 195 150 100 Industry Average P/E ratios 10 9 14 15 18 Industry Average Dividend yields 1% 1% 2% 2% 2%

a) Compute Oak Leaf County Technologies price/earnings ratios and dividend yields for the past five years and comment on the companys performance in comparison to the industry averages.

b) Critically evaluate the main features of the recent financial performance and current financial position of Oak Leaf County Technologies.

c) Discuss what strategy you would recommend to improve the companys financing.