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Case Study on SANDELL ARNOLD PLC

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CASE STUDY – SANDELL ARNOLD PLC Background - Sandell Arnold plc A friend of yours, Parveen Rostom, has approached you seeking some advice. She has been offered the position of Sales Director within a company called Sandell Arnold (referred to from now on as Sandell) Sandell is a building merchant, which has been trading for more than 40 years supplying a range of materials to the building and construction industry. This includes ironmongery, plumbing and heating, landscaping materials, timber and sheet materials, painting and decorating, dry lining and insulation, doors and joinery, and hand and power tools. A few years back, in 2011, Sandell become a plc and is listed on the UK’s Alternative Investment Market (AIM), which seeks to raise capital for smaller but fast growing companies. The growth which Sandell desired has not yet happened and therefore Parveen has been offered a very generous remuneration package to implement a new aggressive sales strategy to support Sandell’s expansion into new Western European markets. However Parveen has been with her current employer for six years and wants to ensure her future would be secure. Your role Though Parveen is a friend, she has approached you because you are a Financial Analyst who is a specialist in the building and construction industry. You have agreed to analyse the financial performance and position of Sandell and produce a report for Parveen which sets out your findings and makes a recommendation as to whether she should accept or reject the offer to become Sandell’s Sales Director. To assist you with this task you have put together a pack of information as follows: Exhibit 1: Extracts from Sandell Arnold’s Financial Statements for 2013, including the Income Statement, Statement of Financial Position and Statement of Cashflows. Exhibit 2: Additional Financial information which supports the Financial Statements in Exhibit One. Exhibit 3: Key ratio analysis for 2012 and 2013 of Sandell Arnold’s financial statements. In addition to this pack, you have Exhibit 4: Your Notes from various document reviews and industry discussions. One further exhibit will also be provided at phase 3. Exhibit 5: Revised financial statements which reflect the impact of losing the case for damages.