Wednesday, August 26, 2015

The 32 Largest United Kingdom Companies Reporting Their Financial Statements in British Pounds (BPs) 2014 Total Audited Earnings From Continuing Operations Down 2% From 2013, Down 10% From 2011, Down 16% From 2009 and Down 28% From 2007 ..... 24 Largest Non-Financial UK Companies Reporting in BPs 2014 Total Earnings Down 38% From 2013 ..... Royal Bank of Scotland Total Audited Losses of BP 44 Bil in the Most Recent 7 Years

From a review of the superb Google Finance Website, the US SEC Website and financial statements in company investor relations websites, I found 18 Companies headquartered in the United Kingdom which reported their financial statements in British Pounds (BPs) with the US SEC and with Stock Market Capitalizations of more than BP1 bil or the equivalent for non-publicly-traded companies.  Thirteen of these 18 Companies had Market Caps of more than BP10 bil.

Also from a review of the Google Finance Website and financial statements in company investor relations websites, I found another 14 Companies headquartered in the United Kingdom which reported their financial statements in British Pounds (BPs) not with the US SEC and with Stock Market Capitalizations of more than BP10 bil.

I excluded all UK Utility Companies.

How have these 32 UK Companies recovered from the 2008-9 worldwide financial meltdown?  Not so well.  Their Total Audited Earnings From Continuing Operations in 2014 were down 28% from 2007.

Of these 32 UK Companies Reporting in British Pounds, 24 of them are Non-Financial Companies and 8 are Financials.

The 24 Non-Financial UK Companies generated 2014 Total Audited Earnings From Continuing Operations which were 38% below that in 2013.

On the UK Financial Company front, the Royal Bank of Scotland Group has been an unmitigated financial disaster with Total Audited Losses of more than BP44 Bil for the most recent 7 years.

Below here are the reported Audited Earnings (Losses) From Continuing Operations for each of  these 32 UK Companies reporting in British Pounds for all years reported from 2007 through 2014:



2014 2013 2012 2011 2010 2009 2008 2007


Most Audited Audited Audited Audited Audited Audited Audited Audited


Recent Net Net Net Net Net Net Net Net
2014 Income Income Income Income Income Income Income Income
UK Companies Reporting in BPs UK HQs FYE (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss) (Loss)


mil BPs mil BPs mil BPs mil BPs mil BPs mil BPs mil BPs mil BPs
Financials









Prudential plc London Dec14       2,216       1,346       2,163       1,451       1,326          691        (391)          709
Aviva plc London Dec14       1,680          878          (86)          489       1,086       1,287        (707)       1,027
Lloyds Banking Group plc London Dec14       1,499        (802)     (1,387)        (554)     (2,613)       2,953          798       3,320
Santander UK plc London Dec14       1,110          898          881          923       1,583       1,245          819          685
Legal & General Group plc London Dec14          992          906          801          721          820          844     (1,130)          718
Barclays Bank plc London Dec14          845       1,297          181       3,868       4,499       3,511       4,683       4,524
Royal Bank of Scotland Group plc Edinburgh Dec14          734     (9,035)     (6,208)     (2,774)        (963)     (2,218)   (23,524)       7,625
Abbey National Treasury Services plc London Dec14          121          164          264          164          460          378          248











Total 8 Financials

      9,197     (4,348)     (3,391)       4,288       6,198       8,691   (19,204)     18,608











Non-Financials









Vodaphone Group Public Ltd Co Berkshire Mar15       5,860     11,312     (3,959)       3,439       7,870       8,618       3,080       6,756
British American Tobacco plc London Dec14       3,393       4,199       4,076       3,321       3,092       2,956       2,659       2,287
GlaxoSmithKline plc Middlesex Dec14       2,831       5,628       4,678       5,405       1,806       5,669       4,712       5,310
Diageo plc London Jun 15       2,467       2,264       2,550       2,032       1,960       1,762       1,704       1,560
BT Group plc London Mar15       2,135       2,018       1,948       1,756       1,233       1,048        (191)       1,738
Reckitt Benckiser Group plc Berkshire Dec14       1,664       1,403       1,825       1,754       1,570       1,418       1,120          938
Imperial Tobacco Group plc Bristol Sep14       1,451          929          699       1,816       1,522          677          441          912
Sky plc London Jun15       1,332          820          979          906          758          896          291          (96)
WPP plc London Dec14       1,152       1,012          895          917          661          507          514          515
International Airlines Group London Dec14       1,003          151        (885)          555          100


Relx plc London Dec14          960       1,115       1,049          738          597          395          462          894
Compass Group plc Surrey Sep14          868          434          611          694          667          552          397          312
Associated British Foods plc London Sep14          783          628          583          577          569          383          391          400
BAE Systems plc London Dec14          752          176       1,074       1,260       1,027          (61)       1,879          875
Next plc Leicestershire Jan15          635          553          509          475          401          364          302          354
Wolseley plc Reading Dec14          504          284            60          281        (366)        (732)          242          462
ITV plc London Dec14          473          330          257          248          270            94     (2,554)          138
Arm Holdings plc Cambridge Dec14          255          105          161          113            86            40            44            35
Pearson plc London Dec14          242          295          253          864          447          377          344          274
AMEC Foster Wheeler plc Cheshire Dec14          106          186          207          211          236          170          210          121
Manchester United Manchester Jun14            24          146            23            13          (47)              5

GW Pharmaceuticals plc Cambridge Dec14          (15)            (5)              2              3              5              2

Rolls-Royce Holdings plc London Dec14          (84)       1,323       2,295          848          543       2,217     (1,345)          600
Tesco plc Hertfordshire Feb15     (5,719)       1,912       1,528       3,164       2,777       2,336       2,138       2,130











Total 24 Non-Financials

    23,072     37,218     21,418     31,390     27,784     29,693     16,840     26,515











Earnings % Decline 24 Non-Financials: 









….. 2014 Below 2013

-38%






….. 2014 Below 2007

-13%

















Grand Total all 32

    32,269     32,870     18,027     35,678     33,982     38,384     (2,364)     45,123











Earnings % Decline All 32:









….. 2014 Below 2013

-2%






….. 2014 Below 2011

-10%






….. 2014 Below 2009

-16%






….. 2014 Below 2007

-28%