We chartered the history of Apple up to January 2010 (see”The story of Apple Inc. above)-so how have things developed since?
Well it has been voted the worlds most admired company by Fortune Magazine in 2008/2009 and 2010.The share price ($308.43 today)has rocketed as have company profits.In the last three months Apple posted sales of €14bn, sold 14 million iPhones, 4million i-Pads,and almost 4million Mac computers. Profits of $4.3bn which works out at $4.64 per share,were recorded.
On November 3rd 2010 according to Standard&Poor’s list of leading global companies, Apple’s total market capitalisation trailed only oil giant Exxon, having bypassed Microsoft for the first time.
Apple operate at a gross margin of 38%.
They have reserves of $51bn.
Theres a “wee” bit of speculation that the purchase of Facebook could happen.
Accounting, Business
Royal Dutch Shell plc posted 62% fall in its net profit for the first quarter as falling prices and weak demand has affected operations.
Net profit for the three months ended March ‘09 was $3.5 bn down from $9 bn for the previous quarter.
Accounting, Business
The Office of the Director of Corporate Enforcement has recently been in the news due to the fact that while working with the fraud squad they are searching and removing files from the hq of Anglo Irish Bank. This is the first time that the O.D.C.E. sought permission from the courts to search the premises of a financial institution under investigation for possible breaches of company law.
The aims of the O.D.C.E. is to improve the compliance environment for corporate activity in the Irish economy. It has the power to investigate breaches of Company law,and to bring to account those who are in breach of the law.(to ensure that Companies and those who run them act within Company Law)
Some of the issues investigated during 2008 include
- the purchase and sale of shares in one plc(DCC) by another plc(Fyffes)
- the publication of a 200 page Company Law handbook on property
management companies to help improve their governance
- ultra vires investigations of company directors.
The team working in the O.D.C.E. is made up mainly of accountants,lawyers and gardai.
Accounting, Business
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