Use your analysis to comment on the accuracy of the chairman's statement

The chairman of Thurton plc has come under some pressure lately. Shareholders have complained about the firms poor performance. Today though he is creating favourable headlines. The Sunday Times has announced that Thurton is driving forward. The chairman is quoted as saying "this is a great day for Thurton. Profit before Tax is up by more than 50% and we have been able to double our dividends to shareholders, I am confident we will be able to maintain or increase this dividend next year." Income statement for Thurton PLC Revenue Cost of Sales Gross Prifit Expenses Operating profit Extraordinary item Finance income Finance Expenses Proft before taxation Taxation @30% Proft after taxation With out This year Extraordinary 24.5 24.5 -10 14.5 -12.4 2.1 6.4 0.5 -0.9 8.1 -2.4 5.7 -10 14.5 -12.4 2.1 0.5 -0.9 1.7 -0.5 1.2 Last year m 25.8 -9.6 16.2 -11.1 5.1 0 0.4 -0.9 4.6 -1.4 3.2 with E/I Analysis 10.50% 58.8%% 43% 78.10% Without E/I 10.50% 58.80% 63% -62.80%