|
Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SIGNET TRADING LIMITED |
|
|
|
|
Registered
Office : |
110 Cannon Street London EC4N 6EU |
|
|
|
|
Country : |
United Kingdom |
|
|
|
|
Financials (as
on) : |
02.02.2013 |
|
|
|
|
Date of
Incorporation : |
12.05.1999 |
|
|
|
|
Com. Reg. No.: |
03768979 |
|
|
|
|
Legal Form : |
Private limited
with Share Capital |
|
|
|
|
Line of Business
: |
Subject is a specialty retail jeweler |
|
|
|
|
No. of Employees
: |
3,156 |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT
LINE |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment
Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
NOTES:
Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report
number, name and date.
ECGC Country Risk
Classification List – March, 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
United Kingdom |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED KINGDOM
- ECONOMIC OVERVIEW
The
UK, a leading trading power and financial center, is the second largest economy
in Europe after Germany. Over the past two decades, the government has greatly
reduced public ownership and contained the growth of social welfare programs.
Agriculture is intensive, highly mechanized, and efficient by European standards,
producing about 60% of food needs with less than 2% of the labor force. The UK
has large coal, natural gas, and oil resources, but its oil and natural gas
reserves are declining and the UK became a net importer of energy in 2005.
Services, particularly banking, insurance, and business services, account by
far for the largest proportion of GDP while industry continues to decline in
importance. After emerging from recession in 1992, Britain's economy enjoyed
the longest period of expansion on record during which time growth outpaced
most of Western Europe. In 2008, however, the global financial crisis hit the
economy particularly hard, due to the importance of its financial sector.
Sharply declining home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these include nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy. GDP fell 0.1%, and the budget deficit remained
stubbornly high at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
SIGNET TRADING LIMITED
110 CANNON STREET
LONDON
EC4N 6EU
United Kingdom
Telephone 0044 121 6977400
Fax --
Website www.signetjewelers.com
Company Number: 03768979
Foundation: 12/05/1999
Status: Active - Accounts Filed
VAT No GB 233 000924
Payment experience
The company should
be considered equal to engagements
The CCJ recorded
against the company. The credit limit on this company has fallen 1.4% in
comparison to the previously suggested credit limit. Sales in the latest
trading period decreased 0.2% on the previous trading period. Net Worth
decreased by 2.7% during the latest trading period. A 5.6% decline in Total
Assets occurred during the latest trading period. Pre-tax profits decreased by
44.6% compared to the previous trading period.
There has been no significant
change in the company’s credit rating. The company has undergone recent changes
in its directorships. The company is part of a group. The company has changed
its registered address recently. The company was established over 14 years ago.
Legal form Private limited
with Share Capital
Foundation 12/05/1999
Company No. 03768979
Date of Change Previous
Name
29.07.1999 Signet
UK Trading Limited
17.06.1999 Signet
UK Jewellery Limited
Name Currency Number of Shares Share Type Nominal
Value
Signet Holdings Ltd GBP 162,067,896 Ordinary 1
GBP 162,067,896
Company Secretary
NAME ADDRESS APPOINTMENT
DATE
Mr. Mark Andrew Jenkins 110 Cannon Street, London EC4N 6EU 03.01.2004
Name Address Date of Birth Nationality Appointment Date
Mr. Mark Andrew Jenkins 110 Cannon Street,
London EC4N 6EU 11.03.1958 British 06.01.2009
Mr. Michael Povall 110 Cannon Street,
London EC4N 6EU 07.07.1959 British 04.12.2013
Other Known
Addresses
1 King Edward Court, Windsor, Berkshire SL4 1TF
1 King Street, Manchester M2 6AW
1 Market Walk, Newton Abbot, Devon TQ12 2RX
1 Shewell Walk, Colchester, Essex CO1 1WG
10 Central Square, The Ashley Centre, Epsom, Surrey KT18 5DA
11 Crown Walk, Milton Keynes, Buckinghamshire MK9 3AH
11 Eagle Walk, Milton Keynes, Buckinghamshire MK9 3AJ
11 Liberty 2, Mercury Gardens, Romford, Essex RM1 3EE
11 Westborough, Scarborough, North Yorkshire YO11 1UQ
117 The Mall, Cribbs Causeway Regional Shopping C, Patchway, Bristol,
Avon BS34 5UP
12 Penny Street, Lancaster, Lancashire LA1 1UA
12-14 Gold Street, Kettering, Northamptonshire NN16 8JB 12-
14 Middle Street, Yeovil, Somerset BA20 1LY
124 Armada Way, Plymouth, Devon PL1 1LA
126 A Arndale Cen, Luton, Bedfordshire LU1 2TJ
13 West Gate, Stevenage, Hertfordshire SG1 1QR
14 Cambridge Walk, Camberley, Surrey GU15 3SW
15 St. Marys Arcade, The Quadrant, Swansea, West Glamorgan SA1 3QW
167 Oxford Street, London, London W1D 2JP
17-17A King Street, Huddersfield, West Yorkshire HD1 2PZ
17-18 Hope Street, Wrexham, Clwyd LL11 1BG
19 High Street, Meadowhall Centre, Sheffield, South Yorkshire S9 1EN
19 Horse Fair, Wisbech, Cambridgeshire PE13 1AR
19 Market Walk, Chorley, Lancashire PR7 1DE
19 Queensmere, Slough, Berkshire SL1 1DB
2 Gaolgate Street, Stafford, Staffordshire ST16 2BG
2 Oberhausen Mall, Hill Street Shopping Centre, Middlesbrough, Cleveland
TS1 1TB 2-
4 Lands Lane, Leeds, West Yorkshire LS1 6AW
20 Sankey Street, Warrington, Cheshire WA1 1TD
201 Dean Street, Town Centre, Telford, Shropshire TF3 4BT
21 Broad Walk, Harlow, Essex CM20 1HX
21 The Peacocks Centre, Woking, Surrey GU21 6GB
230 The Chimes Shopping Centre, High Street, Uxbridge, Middlesex UB8 1GB
24 Cornmarket, Derby, Derbyshire DE1 2DP
26 Arndale Centre, Eastbourne, East Sussex BN21 3NW
26 Regent Street, Swindon, Wiltshire SN1 1JL
28-28A Bridge Street, Haverfordwest, Dyfed SA61 2AD
28-29 Mayfair House, Town Centre, Basingstoke, Hampshire RG21 7JY
28a Old Christchurch Road, Bournemouth, Dorset BH1 1LG
29 Stall Street, Bath, Avon BA1 1QF
3 Brigg Street, Norwich, Norfolk NR2 1QN
3 Cheapside, High Road, London, London N22 6HH
3 Westbury Mall, Fareham, Hampshire PO16 0PE
3-5 Newgate Street, Bishop Auckland, County Durham DL14 7EP
30 Albion Street, Derby, Derbyshire DE1 2PR
32-32A Dolphin Centre, Poole, Dorset BH15 1SS
33 Gaolgate Street, Stafford, Staffordshire ST16 2NT 33-
34 Cornhill, Bury St. Edmunds, Suffolk IP33
1DY
35 Princes Mead, Farnborough, Hampshire GU14 6YA
352 Chiswick High Road, London W4 5TA
35a The Mall, Cribbs Causeway Regional Shopping C, Bristol, Avon BS34
5GG
36 Hankinson Way, Salford, Lancashire M6 5JA
3rd Floor, 12-13 Market Square, Bromley, Kent BR1 1NA
4 Norfolk Street, King’s Lynn, Norfolk PE30 1AF
41 Lister Gate, Nottingham, Nottinghamshire NG1 7EE
41 Park Street, Walsall, West Midlands WS1 1LY
43 East Mall, Upper Mall Level, Sheffield, South Yorkshire S20 7PQ
43 Merseyway, Stockport, Cheshire SK1 1QE
45 Church Street, Liverpool, Merseyside L1 1DE
46 Bath Street, Ilkeston, Derbyshire DE7 8FD
47 Queensgate Centre, Peterborough, Cambridgeshire PE1 1NH
49 Above Bar Street, Southampton, Hampshire SO14 7DZ
5 Cameron Toll Shopping Centre, 6 Lady Road, Edinburgh, Midlothian EH16
5PB
50 Ashley Centre, Epsom, Surrey KT18 5DB
50 Peel Avenue, The Trafford Centre, Manchester, Lancashire M17 8BL
53A Cornmarket Street, Oxford, Oxfordshire OX1 3HB
54-55 Briggate, Leeds, West Yorkshire LS1 6AS
59 Evesham Walk, Kingfisher Shopping Centre, Redditch, Worcestershire
B97 4HA
6-7 North Mall, Frenchgate Centre, Doncaster, South Yorkshire DN1 1SR
62 Queen Street, Cardiff, South Glamorgan CF10 2GQ
68-69 Prospect Centre, Prospect Street, Hull, North Humberside HU2 8PW
7 The Square, Camberley, Surrey GU15 3SL
7-8 Queens Square, Sandwell Centre, West Bromwich, West Midlands B70 7NG
71-
73 Rye Lane, London SE15 5EX
74 Week Street, Maidstone, Kent ME14 1RJ
8 Four Seasons Centre, Mansfield, Nottinghamshire NG18 1SN
8 The Arcade, Meadowhall Centre, Sheffield, South Yorkshire S9 1EH
8-10 Eastgate Row South, Chester, Cheshire CH1 1LF
82A High Street, Scunthorpe, South Humberside DN15 6SA
83 Putney High Street, London SW15 1SR
83 The Galleries, Washington Centre, Washington, Tyne and Wear NE38 7RT
86 Cathedral Walk, The Ridings Centre, Wakefield, West Yorkshire WF1 1YD
88 Union Street, Aberdeen, Aberdeenshire AB10 1JL
Bentalls Shopping Centre, Wood Street, Kingston-upon-thames, Surrey KT1
1TR
Bon Accord Centre, George Street, Aberdeen, Aberdeenshire AB25 1HZ
Broadmead Gallery, The Mall, Broadmead, Bristol, Avon BS1 3XB
Cannon Street House, 110 Cannon Street, London EC4N 6EU
Churchill Square, Brighton, East Sussex BN1 2TB
Connswater Industrial Estate, East Bread Street, Belfast, County Antrim
BT5 5AP
Edinburgh House, 20 Princes Square, East Kilbride, Glasgow, Lanarkshire
G74 1LJ
Gyle Avenue, South Gyle Broadway, Edinburgh, Midlothian EH12 9JU
High Street, Paisley, Renfrewshire PA1 2BY
High Street, Southend-on-sea, Essex SS1 1JX
Hunters Road, Hockley, Birmingham, West Midlands B19 1DS
L3/32 Buchanan Galleries, 220 Buchanan Street, Glasgow, Lanarkshire G1
2GF L39-
40 Lower Level, White Rose Shopping Centre, Leeds, West Yorkshire LS11
8LL Middle
Mall, Bullring, Birmingham, West Midlands B5 4BE
Park Centre, Donegall Road, Belfast BT12 6HN
Priory Meadow, Hastings, East Sussex TN34 1PH
Queen Street, Oxford, Oxfordshire OX1 1EJ
Selborne Walk, London E17 7JR
The Exchange, High Road, Ilford, Essex IG1 1RR
The Mall, 26 Arndale Centre, Eastbourne, East Sussex BN21 3NW
The Merry Hill Centre, Brierley Hill, West Midlands DY5 1SY
Unit 119, Churchway, Potteries Shopping Centre, Market Square,
Stoke-on-trent, Staffordshire ST1 1PS
Unit 13, The Kyle Centre, 203 High Street, Ayr, Ayrshire KA7 1QT
Unit 15, The Arcades, Warrington Street, Ashton-under-lyne, Lancashire
OL6 7JE
Unit 17 Glasgow Fort Shopping Centr, Glasgow, Lanarkshire G33 6HZ
Unit 2, Lewisham Centre, London, London SE13 7EP
Unit 21, Eastgate Shopping Centre, Inverness, Inverness-Shire IV2 3PP
Unit 21, Trinity Centre, Union Street, Aberdeen, Aberdeenshire AB11 6BE
Unit 25, Ankerside Shopping Centre, Tamworth, Staffordshire B79 7LG
Unit 27, Bamburgh House, Manor Walks Shopping Centre, Cramlington,
Northumberland NE23 6QE
Unit 36, Upper Ground Level, Reading, Berkshire RG1 2AH
Unit 51, The Marlowes Centre, Marlowes, Hemel Hempstead, Hertfordshire
HP1 1DX
Unit 6, Castle Court, Royal Avenue, Belfast, County Antrim BT1 1DD
Unit B4, Brent Cross Shopping Centre, Prince Charles Drive, London,
London NW4 3FQ
Unit U069, Upper Thames Walk, Greenhithe, Kent DA9 9SR
Upper Level, West Quay Shopping Centre,
Southampton, Hampshire SO15 1QD
Company
No. Name Status Country
Ultimate
parent
- SIGNET JEWELERS
LTD Other BM
Affiliated
companies
|
00477692 |
SIGNET GROUP LIMITED |
Active |
United kingdom |
|
03769521 |
LESLIE DAVIS LIMITED |
Active |
United kingdom |
|
07601223 |
SIGNET DIRECT DIAMOND SOURCING LIMITED |
Active |
United kingdom |
|
02238892 |
RATNERS PROPERTY DEVELOPMENTS LIMITED |
Non Trading |
United kingdom |
|
05860219 |
SDDS (BELGIUM) LIMITED |
Active |
United kingdom |
|
03769623 |
SIGNET GROUP SERVICES LIMITED |
Non Trading |
United kingdom |
|
03768981 |
SIGNET UK DORMANT LIMITED |
Non Trading |
United kingdom |
|
00512687 |
EJ LIMITED |
Non Trading |
United kingdom |
|
0062973 |
STEPHEN’S JEWELLERS LIMITED |
Non Trading |
United kingdom |
|
01361155 |
TERRY’S (JEWELLERS) LIMITED |
Non Trading |
United kingdom |
|
01569284 |
SIGNET JEWELLERS LIMITED |
Non Trading |
United kingdom |
|
02005783 |
SIGNET JEWELLERS GROUP LIMITED |
Non Trading |
United kingdom |
|
02068822 |
RATNERS LIMITED |
Non Trading |
United kingdom |
|
02108408 |
RATNERS TRUSTEES LIMITED |
Non Trading |
United kingdom |
|
02246778 |
COLLINGWOOD THE COUNTRY JEWELLERS LIMITED |
Non Trading |
United kingdom |
|
06647317 |
SIGNET JEWELLERS LIMITED |
Non Trading |
United kingdom |
|
01375668 |
ERNEST JONES (JEWELLERS) LIMITED |
Non Trading |
United kingdom |
|
00468771 |
ERNEST JONES & CO. LONDON LIMITED |
Non Trading |
United kingdom |
|
00550909 |
SAPHENA LIMITED |
Non Trading |
United kingdom |
|
00278248 |
JAMES WALKER GOLDSMITH AND SILVERSMITH
LIMITED |
Non Trading |
United kingdom |
|
IE902912 |
SIGNET GROUP LIMITED |
Others |
Ireland
|
|
04607153 |
SIGNET GROUP FINANCE LIMITED |
Active |
United kingdom |
|
US44570990 |
SIGNET US HOLDINGS INC |
Non Trading |
USA |
|
05012307 |
SIGNETUS FINANCE LIMITED |
Non Trading |
United kingdom |
|
Subsidiaries
Companies |
|||
|
01131608 |
CHECKBURY LIMITED |
Active |
United kingdom |
|
03768966 |
ERNEST JONES LIMITED |
Active |
United kingdom |
|
00146570 |
H SAMUEL LIMITED |
Active |
United kingdom |
|
Immediate
Parent |
|||
|
03769622 |
SIGNET HOLDINGS LIMITED |
Non Trading |
United kingdom |
Main activity
Signet is a specialty retail jeweler
Turnover and Employees
Date of Accounts Turnover
Employees
29/01/2011 GBP 447,018,000 3,399
28/01/2012 GBP 446,921,000 3,293
02/02/2013 GBP 446,216,000 3,156
Banks
Banks Name Bank Branch Sort Code
Barclays Bank Plc
Auditor
Auditor Name
KPMG AUDIT PLC
Events
County Court Judgments (CCJs)
Date Amount Court Case number Status Date
paid
06/08/2008 GBP 767 NORTHAMPTON CCBC 8QT71848 Satisfied
08/10/2008
Company history
Date Action
19/10/2008 Annual Returns
16/06/2009 New Accounts
Filed
06/10/2009 Annual Returns
30/11/2009 Annual Returns
05/07/2010 Mr W.G. Boyd has
left the board
05/07/2010 New Board Member
Mr K.C. Pratt appointed
16/07/2010 New Accounts
Filed
22/09/2010 Change of Company
Postcode
12/10/2010 Annual Returns
23/07/2011 New Accounts
Filed
23/07/2011 New Accounts
Filed
19/08/2011 New Accounts
Filed
10/09/2011 Annual Returns
17/09/2012 Annual Returns
28/09/2012 New Accounts
Filed
28/09/2012 New Accounts Filed
25/01/2013 Change in
Reg.Office
25/01/2013 Change of Company
Postcode
09/05/2013 Mr K.C. Pratt has
left the board
09/05/2013 New Board Member
Mr M.P. Povall appointed
20/05/2013 New Accounts
Filed
20/05/2013 New Accounts
Filed
Profit & Loss
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Turnover |
446,216,000 |
446,921,000 |
447,018,000 |
118,114,000 |
|
Cost of Sales |
386,699,000 |
376,274,000 |
375,669,000 |
110,614,000 |
|
Gross Profit |
59,517,000 |
70,647,000 |
71,349,000 |
7,500,000 |
|
Wages And Salaries |
79,892,000 |
79,301,000 |
79,487,000 |
81,850,000 |
|
Directors
Emoluments |
774,000 |
456,000 |
363,000 |
289,000 |
|
Operating Profit |
20,446,000 |
34,203,000 |
31,896,000 |
7,417,000 |
|
Depreciation |
14,853,000 |
14,602,000 |
11,038,000 |
4,311,000 |
|
Audit Fees |
230,000 |
232,000 |
232,000 |
232,000 |
|
Interests
Payments |
2,399,000 |
3,809,000 |
3,861,000 |
9,936,000 |
|
Pre
Tax Profit |
19,225,000 |
34,690,000 |
32,202,000 |
15,560,000 |
|
Taxation |
-3,703,000 |
-7,818,000 |
-7,571,000 |
1,379,000 |
|
Profit After Tax |
15,522,000 |
26,872,000 |
24,631,000 |
16,939,000 |
|
Dividends
Payable |
0 |
0 |
0 |
12,500,000 |
|
Retained Profit |
15,522,000 |
26,872,000 |
24,631,000 |
4,439,000 |
Balance Sheet
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Tangible Assets |
63,459,000 |
69,545,000 |
69,076,000 |
233,121,000 |
|
Intangible Assets |
36,474,000 |
38,379,000 |
40,284,000 |
0 |
|
Total Fixed Assets |
99,933,000 |
107,924,000 |
109,360,000 |
233,121,000 |
|
Stock |
167,137,000 |
162,114,000 |
149,123,000 |
5,904,000 |
|
Trade Debtors |
7,910,000 |
6,878,000 |
5,128,000 |
2,572,000 |
|
Cash |
14,200,000 |
11,335,000 |
7,808,000 |
13,410,000 |
|
Other Debtors |
109,290,000 |
133,640,000 |
122,559,000 |
216,757,000 |
|
Miscellaneous Current Assets |
0 |
0 |
0 |
0 |
|
Total Current
Assets |
298,537,000 |
313,967,000 |
284,618,000 |
238,643,000 |
|
Trade Creditors |
8,904,000 |
19,488,000 |
17,432,000 |
4,935,000 |
|
Bank Loans and Overdraft |
0 |
6,336,000 |
12,806,000 |
16,541,000 |
|
Other Short
Term Finance |
61,312,000 |
59,525,000 |
31,135,000 |
203,348,000 |
|
Miscellaneous Current Liabilities |
61,691,000 |
61,477,000 |
60,422,000 |
30,646,000 |
|
Total Current
Liabilities |
131,907,000 |
146,826,000 |
121,795,000 |
255,470,000 |
|
Bank Loans and Overdrafts LTL |
1,812,000 |
8,338,000 |
14,595,000 |
19,569,000 |
|
Other Long Term Finance |
0 |
0 |
0 |
0 |
|
Total Long Term Liabilities |
1,812,000 |
2,002,000 |
1,789,000 |
3,028,000 |
Capital & Reserves
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Called Up Share
Capital |
162,068,000 |
162,068,000 |
162,068,000 |
162,068,000 |
|
P and L Account Reserve |
90,990,000 |
97,577,000 |
98,716,000 |
44,997,000 |
|
Revaluation Reserve |
3,047,000 |
3,077,000 |
3,107,000 |
0 |
|
Sundry Reserves |
8,646,000 |
10,341,000 |
6,503,000 |
6,201,000 |
|
Shareholders Funds |
264,751,000 |
273,063,000 |
270,394,000 |
213,266,000 |
Other Financial Items
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Net
Worth |
228,277,000 |
234,684,000 |
230,110,000 |
213,266,000 |
|
Working Capital |
166,630,000 |
167,141,000 |
162,823,000 |
-16,827,000 |
|
Total Assets |
398,470,000 |
421,891,000 |
393,978,000 |
471,764,000 |
|
Total Liabilities |
133,719,000 |
148,828,000 |
123,584,000 |
258,498,000 |
|
Net
Assets |
264,751,000 |
273,063,000 |
270,394,000 |
213,266,000 |
Cash Flow
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Net Cash Flow from
Operations |
0 |
0 |
0 |
0 |
|
Net Cash Flow before Financing |
0 |
0 |
0 |
0 |
|
Increase
in Cash |
2,865,000 |
3,527,000 |
-5,602,000 |
11,519,000 |
Miscellaneous
|
|
56 GBP Group: Yes |
28/01/2012 56 GBP Group: Yes |
29/01/2011 56 GBP Group: Yes |
30/01/2010 56 GBP Group: Yes |
|
Capital
Employed |
266,563,000 |
275,065,000 |
272,183,000 |
216,294,000 |
Financial Ratios
|
|
02/02/2013 |
28/01/2012 |
29/01/2011 |
30/01/2010 |
|
Pre Tax Profit
Margin |
4.31 % |
7.76 % |
7.20 % |
13.17 % |
|
Current
Ration |
2.26 |
2.14 |
2.34 |
0.93 |
|
Sales or Net Working
Capital |
2.68 |
2.67 |
2.75 |
-7.02 |
|
Gearing |
0.68 % |
3.05 % |
5.40 % |
9.18 % |
|
Equity |
73.14 % |
71.20 % |
76.45 % |
45.21 % |
|
Creditor
Days |
7.40 |
15.87 |
14.19 |
15.20 |
|
Debtor Days |
6.57 |
5.60 |
4.17 |
7.92 |
|
Liquidity
or Acid test |
0.99 |
1.03 |
1.11 |
0.91 |
|
Return on Capital
Employed |
7.21 % |
12.61 % |
11.83 % |
7.19 % |
|
Return on Total Assets Employed |
4.82 % |
8.22 % |
8.17 % |
3.29 % |
|
Current Debt Ratio |
0.49 % |
0.53 % |
0.45 % |
1.19 % |
|
Total Debt Ratio |
0.50 % |
0.54 % |
0.45 % |
1.21 % |
|
Stock Turnover Ratio |
37.45 % |
36.27 % |
33.35 % |
4.99 % |
|
Return on Net
Assets Employed |
7.26 % |
12.70 % |
11.90 % |
7.29 % |
The company is achieving substantial turnover and
profitability and the general financial position is good
Net Profit Year Ended 02/02/2013 – 15,522,000GBP
Net Profit Year Ended 02/02/2012 – 26,872,000GBP
Trading Address Confirmed: Hunters Road, Hockley,
Birmingham , West Midlands B19 1DS
Branches: Global in Group
Employees: UK- 3,166 ( US- 14,711 )
Further detail
Signet’s US division operated 1,443 stores in all 50
states at February 2, 2013. Its stores trade nationally in malls and off-mall
locations as Kay Jewellers (“Kay”), and regionally under a number of
well-established mall-based brands. Destination superstores trade nationwide as
Jared The Galleria Of Jewellery (“Jared”). Signet acquired Ultra Stores, Inc.
(“Ultra”) on October 29, 2012 (the “Ultra Acquisition”) with the primary
purpose to immediately increase Signet’s share of the US outlet channel for
jewellery. Based on publicly available data, Signet’s US division was the
largest specialty jeweller in the US in calendar 2012.
Signet’s UK division operated 511 stores at February 2,
2013, including 14 stores in the Republic of Ireland and three in the Channel
Islands. Its stores trade in major regional shopping malls and prime ‘High
Street’ locations (main shopping thoroughfares with high pedestrian traffic) as
“H.
Samuel,” “Ernest Jones,” and “Leslie Davis.” Based on
publicly filed accounts, Signet’s UK division was the largest specialty
retailer of fine jewellery in the UK in calendar 2012.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
-
The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
-
The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
-
Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
-
Family owned diamond businesses need to improve on many
fronts including higher standard of corporate governance, long-term performance
– focused strategies, modern management and technology.
-
Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under –
-
Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
-
The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and
jewellery sector. This follows the implementation of Basel III accord – a
global voluntary regulatory standard on bank capital adequacy, stress testing
and market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.