Masters Of Business Administration Finance Essay

“ [ 1 ] Afren is now a Main Market listed in the London Stock exchange FTSE250.Afren is an oil and gas geographic expedition & A ; production company established in the twelvemonth 2004. Their vision is to go a prime pan-African independent geographic expedition and production company. They maintain a differentiated scheme and it is based on strong African representation in the Board and the Management. Partnering with autochthonal companies and National Oil companies and Governments they found a solution to the huge untapped gas resources in the Gulf of guinea. Their portfolio consists of 29 assets in 12 states this spans the full rhythm of Exploration and Production value concatenation. With a proved path record and self-sufficient concern theoretical account that is underpinned by a clear and consistent scheme. In Market it is good placed and continues to present the strong growing long into the hereafter ” .

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Vision: To b prima independent Exploration and Production Companybusiness_model

Aim: To Maximize the Shareholder value

Scheme: To make a balanced and diversified portfolio of quality assets across the full rhythm E & A ; P concatenation.

Their Strategic Precedences:

Production Growth

Organic militias growing

Pursue Materially accretive acquisitions

Operational Efficiency and fiscal subject.

Corporate Social Responsibility.

The Founder Mr. Cooper continues to play an of import function in steering the activities as Strategic Adviser to Afren. He has 35 old ages ‘ experience in working with African Natural Resources Sector and has involved in a broad scope of other extremely successful ventures.

Current Share Price: 136.20pA +5.10p

Exchange Information

Exchange

TIDM

Currency

Shares in Issue

Market Capitalization

LSE

AFR

GBX

1086.897M

?1480.35M

Current Share Price Information

136.20

5.10

3.89

136.00

136.20

1,143,247

Last Close

Last Trade

Day High

Day Low

52 Week High

52 Week Low

131.10

136.20

136.68

133.10

150.00

93.95

Share Price Throughout the Day

Time

Mid Price

Day Change

Day Change

Share Volume

08:00

131.10

Icon bespeaking no change0.00

Icon bespeaking no change0.00 %

0

08:30

133.76

Icon bespeaking positive change2.66

Icon bespeaking positive change2.03 %

225,964

09:00

134.70

Icon bespeaking positive change3.60

Icon bespeaking positive change2.75 %

73,986

09:30

135.70

Icon bespeaking positive change4.60

Icon bespeaking positive change3.51 %

178,752

10:00

135.70

Icon bespeaking positive change4.60

Icon bespeaking positive change3.51 %

145,577

10:30

135.90

Icon bespeaking positive change4.80

Icon bespeaking positive change3.66 %

115,266

11:00

135.90

Icon bespeaking positive change4.80

Icon bespeaking positive change3.66 %

212,018

11:30

135.60

Icon bespeaking positive change4.50

Icon bespeaking positive change3.43 %

151,387

Background

[ 2 ]

2005: 1. Admission to AIM & A ; Completion of $ 8Million Puting

2. Completion of Block 1 JDZ dealing.

3. Zero Reserves and production.

2006: Agreement Signed with AMNI for the developments of the Okoro field, offshore Nigeria.

2007: Acquisition of Devon Energy ‘s involvements in Ghana and Cote D’lvoire announced.

2008: 1. Agreement signed with Oriental Energy Resources for the development of the Ebok field, offshore Nigeria.

2. First oil achieved at the Okoro field.

2009: 1. Successful Appraisal Programme at Ebok more than quartets gross militias to over 100 mmbbls.

2. Acquisition of an involvement in the Okwok field offshore Nigeria.

3. Afren establishes First Hydrocarbon Nigeria ( FHN ) .

4. Achieved chief board listing.

2010: 1. Pan African enlargement – Afren acquires high – impact geographic expedition assets in Ethiopia, Kenya, Madagascar and seychelies.

2. Admission to FTSE250 Index.

2011: 1. First oil achieved at the Ebok development, offshore Nigeria.

2. Afren becomes the first U listed independent E & A ; P to successfully accss the international bond market in size raising US $ 500 million in entire.

3. Strategic acquisition and entry into the Kurdistan part of Iraq.

4. Acquisition of a 74 % intrest in the Tanga Block, Tanzania.

5. FHN completes acquisition of a 45 % involvement in OML 26, onshore Nigeria.

2012: 1. Significant new oil find made at Okoro East, offshore Nigeria.

2. Successful completion of US $ 300 million bond issue.

[ 3 ] Table of Absolutes & A ; Ratio Analysis [ 3 ]

afren plc ( AFR: London )

Last 138.80 GBp

Change Today +0.70 / 0.51 %

Volume 5.1M

As of 11:35 AM 01/3/13 All times are local ( Market informations is delayed by at least 15 proceedingss ) .

AFR Industry Average Ratio information TTM as of 09/30/2012

Profitability – afren plc ( AFR )

Industry Comparision

Tax return on Assetss 12.94 %

Tax return on Equity 14.72 %

Tax return on Capital 16.87 %

Margin Analysis – afren plc ( AFR )

Gross Margin 50.90 %

Levered Free Cash Flow Margin -19.29 %

EBITDA Margin 70.41 %

SG & A ; A Margin 1.35 %

Asset Turnover – afren plc ( AFR )

Entire Assets Turnover 0.5x

Histories Receivables Turnover 8.9x

Fixed Assets Turnover 0.9x

Inventory Employee turnover 8.1x

Credit Ratios – afren plc ( AFR )

Current Ratio 1.1x

Quick Ratio 1.0x

Long-run Solvency – afren plc ( AFR )

Entire Debt/Equity 86.8x

Entire Liabilities/Total Assets 58.6x

Growth Over Prior Year – afren plc ( AFR )

Entire Revenue 272.03 %

Tangible Book Value 139.00 %

EBITDA 281.00 %

Gross Profit 311.97 %

Receivables -18.86 %

Inventory -5.27 %

Diluted EPS Before Extra 166.01 %

Capital Outgos -3.34 %

Cash From Ops. 263.71 %

Levered Free Cash Flownbv No information availabl

The Impact of Current Events Since the last Balance Sheet Date

2010-2011

During 2010 Afren intended to spread out in Pan Africa and they fulfilled it by geting the high impact geographic expedition plus in Ethiopia, Kenya, Madagascar & A ; Seychelles. During the same twelvemonth they got admitted into FTSE250 index. The acquisition of the high impact geographic expedition assets in assorted parts the production is increased and this fulfilled their demand which grew their gross net income to 302348000 $ in 2011 from 128996000 $ during the fiscal twelvemonth 2010. Cost of gross revenues grew from 190451000 to 294315000 $ . Everything got impacted straight and is seen in the published Income Statement of the fiscal twelvemonth 2011. Acquisition related costs amounting to US $ 3.9 million were recognized as an disbursal in the anterior twelvemonth and were included in administrative disbursals in the amalgamate income statement. The acquired concern recorded a loss after revenue enhancement of US $ 30.8 million in the twelvemonth ended 31 December 2010 of which US $ 29.4 million was made during the period from the beginning of the twelvemonth to the acquisition day of the month and a US $ 1.4 million loss was recorded after acquisition, which included US $ 0.6 million attributable toA discontinued operations. The gross for the twelvemonth ended 31 December 2010 was US $ 7.1 million of which US $ 6.6 million arose from the discontinued operations. If the acquisition had completed on 1 January 2010, the entire Group grosss for 2010 would hold been US $ 324.7 million of which US $ 319.5 million is from go oning activities. The entire Group net income for 2010 would hold been US $ 14.9 million and that from go oning activities US $ 28.6 million.

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Syamarlah Rasaratnam ( 2011 ) Cases in Financial and Management Accounting, Cambridge publishes.

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www.businesscasesonline.co.uk

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www.zenwealth.com/BusinessFinanceOnline/RA/RatioAnalysis.html

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