The data below appear in the five-year summary of a major international company. A business combination with another major manufacturer took place in FY13.

The companys total assets at year-end FY9 were GBP 3,500 million.

1)Comparing FY14 with FY10, what reasonable conclusions an analyst might make about the companys efficiency?

FY10 FY11 FY12 FY13 FY14 GBP m GBP m GBP m GBP m GBP m 4,390 844 3,624 3,717 700 8,167 11,366 933 704 1,579 -80 -54 -98 -188 -186 -195 -99 - 163 -349 - 125 296 -208 -105 293 -94 484 -579 - 167 645 352 3,510 316 3,667 218 4,758 10,431 290 561 11,483 682 Financial statements Income statements Revenue Profit before interest and taxation (EBIT) Net interest payable Taxation Minorities Profit for the year Balance sheets Fixed assets Current asset investments, cash at bank and in hand Other current assets Total assets Interest bearing debt (long term) Other creditors and provisions (current) Total liabilities Net assets Shareholders' funds Equity minority interests Capital employed Cash flow Working capital movements Net cash inflow from operating activities 558 514 643 1,258 4,384 4,399 5,691 12,250 -602 -1,053 -1,535 -3,523 1,634 13,799 -3,707 -1,223 -1,054 -1,102 -2,377 -3,108 -1,825 -2,107 -2,637 -5,900 2,559 2,292 3,054 6,350 2,161 2,006 2,309 5,572 398 286 745 778 2,559 2,292 3,054 6,350 -6,815 6,984 6,165 819 6,984 -53 5 71 85 107 864 859 975 1,568 2,292