Tomkins: giving companies a new lease of life

Article Abstract:

Tomkins PLC has been very successful since 1983 when it began its program of acquiring and rebuilding companies. In the period of 1983 to 1988 pre-tax profit has risen from 1.6 million pounds sterling to 47.1 million pounds sterling; turnover has increased from 17.2 million to 312.2 million; and earnings per share have gone from 3.2 pence to 19.7 pence. Since 1983 Tomkins has made six major acquisitions including Pegler-Hattersly PLC for 200 million pounds sterling, Smith & Wesson for 67 million pounds sterling, and Murray Ohio Manufacturing Co for 135 million pounds sterling. Tomkins head of corporate affairs Anthony Spiro states that Tomkins allows their various companies independence to make their own business decisions.

Management, Mergers, acquisitions and divestments, Smith & Wesson Corp., Tomkins PLC, Spiro, Anthony, Pegler-Hattersley PLC, Murray Ohio Manufacturing Co.

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Comprehension means standardization

Article Abstract:

As banks have become more international there has been more pressure from investors and analysts to standardize bank annual reports. In 1988, the Bank for International Settlements approved a system for measuring capital adequacy which requires that by the end of 1992, capital base will be 8% of the risk-rated assets. The International Accounting Standards Committee requires banks to disclose extra information in the areas of liquidity, nature of assets, degree of risk, and any large concentrations. The European Community has stated regulations on bank's solvency ratios and capital base.

Standards, Analysis, Accounting, Corporation reports, Company reports, Disclosure statements (Accounting), International banking, Bank for International Settlements

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PEPs are paying off

Article Abstract:

Rules covering Personal Equity Plans (PEPs) have been liberalized to make them more attractive to investors. PEPs, which were introduced in 1986 to promote individual shareholding, are exempt from income tax and capital gains tax. The Chancellor of the Exchequer, in his 1991 Budget, announced new rules that: allow investment of up to 3,000 pounds sterling in the new single company PEPs, aside from the 6,000 pounds sterling currently permitted for general PEPs; permit PEPs to include equities listed on any European Community (EC) stock exchange; and permit fractional share holdings.

Finance, taxation, & monetary policy, Tax policy, Securities law, Tax exemption, Tax exemptions, United Kingdom. Treasury, United Kingdom. Board of Inland Revenue, Great Britain

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