Investments

JPMorgan Emerging Markets Investment Trust plc Period End 30 June 2010

Submitted by Company Reporting on Fri, 2010-10-15 15:07
JPMorgan Emerging Markets Investment Trust plc Annual Report 2010
Diluted earnings per share measure presented following issue of Subscription shares
UK investment trust JPMorgan Emerging Markets shows earning per share diluted by 2% following issue of Subscription shares last year. 

National Grid plc Period End 31 March 2010

Submitted by YWang on Wed, 2010-09-08 13:14
National Grid plc Annual Report 2010
Separate hierarchy disclosures for commodity contracts and other derivatives
UK utility company National Grid separates new fair value hierarchy disclosures for commodity contracts accounted for as derivatives from those for other derivatives as a result of their separate balance sheet classifications.

Intesa Sanpaolo SpA Period End 31 December 2009

Submitted by Company Reporting on Mon, 2010-06-21 10:41
Intesa Sanpaolo SpA Annual Report 2009
Fair valuing residual interests in previous associate and joint venture following partial disposals boosts profit
Italian bank Intesa Sanpaolo makes partial disposals of investments in companies previously accounted for as an associate and joint venture that result in loss of significant influence and joint control and fair values the residual interests thus increasing profit from continuing operations by 5.5%.
Prior year change to criteria for impairing investments reversed
Italian bank Intesa Sanpaolo reverses a prior year change to its procedure for impairing financial assets and redefines a “prolonged” decline in fair value as 24 rather than 12 months thus demonstrating a lack of consistency.

Snam Rete Gas SpA Period End 31 December 2009

Submitted by Company Reporting on Wed, 2010-05-19 12:00
Snam Rete Gas SpA Annual Report 2009
Purchase method not applied to acquisitions
Italian gas provider Snam Rete Gas does not apply the purchase method to acquisition of two companies from its parent Eni as it falls out of the scope of IFRS and accounts for the excess of consideration over book values of net assets acquired as a reduction in equity which reduces by 24%.

3i Group plc Period End 31 March 2009

Submitted by Company Reporting on Tue, 2009-08-18 23:00
3i Group plc Annual Report 2009

Change in fair value measurement basis contributes 30% of loss

UK financial company 3i changes its method of measuring the fair value of recently acquired unquoted investments from cost less provisions to a market adjustment basis that leads to a £584 million reduction in value that contributes 30% of loss before tax.

Volatility associated with newly issued bonds mitigated by hedge arrangements

UK financial company 3i uses call spread overlays to reduce volatility associated with a £430 million issue of cash-settled bonds.

3i Group plc Period End 31 March 2009

Submitted by Alisdair on Tue, 2009-08-18 23:00
3i Group plc Annual Report 2009

Change in fair value measurement basis contributes 30% of loss

UK financial company 3i changes its method of measuring the fair value of recently acquired unquoted investments from cost less provisions to a market adjustment basis that leads to a £584 million reduction in value that contributes 30% of loss before tax.

Volatility associated with newly issued bonds mitigated by hedge arrangements

UK financial company 3i uses call spread overlays to reduce volatility associated with a £430 million issue of cash-settled bonds.

Sports Direct International plc Period End 27 April 2008

Submitted by Company Reporting on Tue, 2008-10-07 23:00
Sports Direct International Annual Report 2008

Treasury shares reserve not adjusted for share cancellation
UK retailer Sports Direct International does not adjust its £201 million treasury shares reserve to reflect subsequent cancellation of nearly half of the shares purchased and thus does not show a true and fair view of either the amount of treasury shares retained or of distributable reserves

Gain on available-for-sale assets contributes 34.8% of profit
UK retailer Sports Direct International recognises a £41.4 million gain on disposal that represents more than a thired of profit.

British Sky Broadcasting Group plc Period End 30 June 2007

Submitted by Company Reporting on Fri, 2007-11-09 00:00
British Sky Broadcasting Annual Report 2007

Another company abandons market capitalisation for calculating recoverable amount

UK broadcasting company British Sky Broadcasting (BSkyB) moves to the value in use method for impairment testing of its Broadcast unit.

Ryanair Holdings plc Period End 31 March 2007

Submitted by Company Reporting on Tue, 2007-10-23 23:00
Ryanair Holdings Annual Report 2007

25.2% investment in Aer Lingus classified as available-for-sale 
Irish low-cost airline Ryanair purchases a 25.2% interest in Aer Lingus and classifies it as an available-for-sale financial asset rather than as an associate, but without explaining why it does not have significant influence.