West Wood Leisure is a rapidly growing company which owns a number of health clubs and leisure centres. Presented below is summary financial information for the current year for West Wood together with managementĂ˘â‚¬â„˘s financial plan for the next three years. The company has an issued share capital of 1 million ordinary shares and this is not expected to change during the planning period.
The managing director has declared that two key financial objectives over the period are: (1) to at least maintain current rates of return on investment, and (2) to achieve growth in earnings per share of at least 10 per cent per year.
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As an assistant to the financial manager you are required to carry out whatever financial calculations you consider necessary to determine if managementĂ˘â‚¬â„˘s plans will achieve the managing directorĂ˘â‚¬â„˘s objectives. Comment on your findings.