Forex Trading Competition Ukm

Regras e regulamentos A atratividade dos mercados de intercâmbio é mantida proporcionando um mercado eficiente e bem regulamentado. Como uma Bolsa de Investimentos Reconhecidos (RIE), a Bolsa também deve satisfazer os requisitos detalhados nas Autoridades de Conduta Financeira RIE e RCH Sourcebook. Os mercados ordenados são mantidos por meio de regras, orientação e monitoramento da atividade comercial e de mercado. Os Avisos de Bolsa divulgam emendas às regras e orientações do mercado. O objectivo primordial da Trocas é disponibilizar emitentes, intermediários e investidores mercados atractivos, eficientes e bem regulamentados, para gerar capital e cumprir requisitos de investimento e negociação. Todas as empresas membro da Bolsa de Valores de Londres estão vinculadas pelas Regras da Bolsa de Valores de Londres (8220 as regras8221) e devem garantir o cumprimento dessas regras. As regras foram totalmente atualizadas em 2007 pronta para a introdução da Diretoria de Mercados em Instrumentos Financeiros (8220MiFID8221 ou 8220 da Diretiva8221). O Rulebook revisado também alinhou as regras mais de perto com a estrutura do sistema comercial e simplificou-as sempre que possível para torná-las mais fáceis de usar. As Regras estão, portanto, intimamente ligadas à operação do sistema de negociação e devem ser lidas em conjunto com o Guia do sistema comercial e os parâmetros. Puji syukur kehadirat Allah SWT yang telah memberikan rahmat dan hidayah-Nya terutama nikat sehat dan kesempatan sehingga penulis Mampu menyelesaikan makalah dengan judul 8220Adanya Masyarakat Ekonomi Asean (MEA) Bagi Indonesia8221 ini, sholawat serta salam semia tercurah kepada junjungan kita Nabi besar Baginda Muhammad viu yang telah menjadikan suri tauladan bagi umat diseluruh alam. Makalah ini dibujo untuk memenuhi tugas mata kuliah Bahasa Indonesia di program studi Manajemen pada Institut Koperasi Indonésia. Selanjutnya penulis mengucapkan terimakasih yang sebanyak-banyaknya kepada DR. Wangsih, M. PdI selaku dosen sekaligus pembimbing mata kuliah Pendidikan Bahasa Indonesia. Akhirnya penulis menyadari bahwa banyak kekurangan dalam penulisan makalah ini, untuk itu penulis mengharapkan kritik dan saran yang membangun untuk pembuatan-pembuatan makalah yang akan datang. Halaman Judul823082308230823082308230823082308230823082308230823082308230823082308230823082308230823082308230. I KATA PENGANTAR823082308230823082308230823082308230823082308230823082308230823082308230823082308230. Ii DAFTAR ISI8230823082308230823082308230823082308230823082308230823082308230823082308230823082308230823082308230. Iii BAB I PENDAHULUAN A. Latar Belakang Permasalahan82308230823082308230823082308230823082308230823082308230. 1 B. Rumusan Masalah8230823082308230823082308230823082308230823082308230823082308230823082308230 2 C. Tujuan Makalah82308230823082308230823082308230823082308230823082308230823082308230823082308230 2 D. Manfaat Makalah8230823082308230823082308230823082308230823082308230823082308230823082308230. 3 BAB II PEMBAHASAN (Adanya Masyarakat Ekonomi Asean bagi Indonésia) A. Landasan Teori82308230823082308230823082308230823082308230823082308230823082308230823082308230. 4 B. Peluang dan tantangan Indonésia dalam MEA82308230823082308230823082308230. 5 C. Resiko yang dihadapi Indonesia saat MEA823082308230823082308230823082308230. 6-7 D. Cara menghadapi Masyarakat Ekonomi ASEAN823082308230823082308230. 8-9 BAB III PENUTUP 1. Kesimpulan823082308230823082308230823082308230823082308230823082308230. 10 2. Saran823082308230823082308230823082308230823082308230823082308230823082308230. 10 DAFTAR PUSTAKA82308230823082308230823082308230823082308230823082308230. Iv A. Latar Belakang Permasalahan Siapkah anda menghadapi persaingan di tahun 2015 Sudah seharusnya kita bersiap menghadapi ketatnya persaingan di tahun 2015 mendatang. Indonésia dan ndust-negara di wilayah Ásia Tenggara akan membentuk sebuah kawasan yang terintegrasi yang dikenal sebagai Masyarakat Ekonomi ASEAN (MEA). MEA merupakan bentuk realisasi dari tujuan akhir ndustry ekonomi di kawasan Asia Tenggara. Terdapat empat hal yang akan menjadi ndus MEA pada tahun 2015 yang dapat dijadikan suatu momentum yang baik untuk Indonésia, yakni: Pertama, ndust-negara di kawasan Ásia Tenggara ini akan dijadikan sebuah wilayah kesatuan passando por base produksi. Dengan terciptanya kesatuan pasar por base produksi maka akan membuat arus barang, jasa, investasi, modal dalam jumlah yang besar, dan mão de obra qualificada menjadi tidak ada hambatan dann satu ndust ke ndust lainnya di kawasan Asia Tenggara. Kedua, MEA akan dibentuk sebagai kawasan ekonomi dengan tingkat kompetisi yang tinggi, yang memerlukan suatu kebijakan yang meliputi política de concorrência, proteção ao consumidor, direitos de propriedade intelectual (IPR), tributação. Dan E-Commerce. Dengan demikian, dapat tercipta iklim persaingan yang adil terdapat perlindungan berupa ndust jaringan dari agen-agen perlindungan konsumen mencegah terjadinya pelanggaran hak cipta menciptakan jaringan transportasi yang efisien, aman, dan terintegrasi menghilangkan ndust Dupla tributação. Dan meningkatkan perdagangan dengan media elektronik berbasis online. Ketiga, MEA pun akan dijadikan sebagai kawasan yang memiliki perkembangan ekonomi yang merata, dengan memprioritaskan pada Usaha Kecil Menengah (UKM). Kemampuan daya saing dan dinamisme UKM akan ditingkatkan dengan memfasilitasi akses mereka terhadap informasi terkini, kondisi pasar, pengembangan sumber daya manusia dalam hal peningkatan kemampuan, keuangan, serta teknologi. Keempat, MEA akan diintegrasikan secara penuh terhadap perekonomian global. Dengan dengan membangun sebuah industri untuk meningkatkan koordinasi terhadap negara anggota. Selain itu, akan ditingkatkan partisipasi negara di kawasan Ásia Tenggara pada jaringan pasokan global melalui pengembangkan paket bantuan teknis kepada negara Anggota ASEAN yang kurang berkembang. Hal tersebut dilakukan untuk meningkatkan kemampuan industri dan produktivitas sehingga tidak hanya terjadi peningkatkan partisipasi mereka pada skala regional namun juga memunculkan inisiatif untuk terintegrasi secara global. Dari latar belakang diatas, maka dalam makalah ini penulis akan membahas mengenai 8220Peluang, tantangan, dan Resiko bagi Indonésia dengan adanya Masyarakat Ekonomi Asean8221. B. Rumusan Masalah Adapun masalah-masalah yang akan dibahas dalam makalah ini adalah mengenai Peluang, tantangan, dan Resiko bagi Indonésia dengan adanya Masyarakat Ekonomi ASEAN. Masalah ini diambil karena adanya pasar bebas ASEAN di Indonesia. Dalam makalah ini, penulis merumuskan masalah sebagai berikut. 1. Apa saja peluang dan tantangan yang bisa kita ambil dalam programa MEA 2. Apa saja resiko yang akan ditanggung Indonésia dalam menghadapi MEA. C. Tujuan Makalah Dari rumusan masalah diatas, maka secara umum tujuan makalah ini adalah untuk menjelaskan peluang, tantangan, dan resiko yang dihadapi Indonésia dalam menyongsong Masyarakat Ekonomi ASEAN agar masyarakat mampu menghadapi persaingan pasar global. Adapun tujuan dari makalah ini adalah untuk mengetahui secara jelas mengenai: 1. Peluang dan tantangan yang bisa dimanfaatkan oley masyarakat dalam MEA. 2. Resiko yang dihadapi Indonesia saat MEA. A. Landasan Teori Masyarakat Ekonomi Asean adalah integrasi kawasan ASEAN dalam bidang perekonomian. Pembentukan MEA dilandaskan pada empat pilar. Pertama, menjadikan ASEAN sebagai passa tunggal dan pusat produksi. Kedua, menjadi kawasan ekonomi yang kompetitif. Ketiga, menciptakan pertumbuhan ekonomi yang seimbang, dan pilar terakhir adalah integrasi ke ekonomi global. Penyatuan ini ditujukan untuk meningkatkan daya saing kawasan, mendorong pertumbuhan ekonomi, menekan angka kemiskinan dan untuk meningkatkan standar hidup masyarakat ASEAN. Integrasi ini diharapkan akan membangun perekonomian ASEAN serta mengarahkan ASEAN sebagai tulang punggung perekonomian Asia. Dengan dimulainya MEA maka setiap negara anggota ASEAN harus meleburkan batas teritori dalam sebuah pasar bebas. MEA akan menyatukan passa setiap negara dalam kawasan menjadi pasar tunggal. Sebagai pasar tunggal, arus barang dan jasa yang bebas merupakan sebuah kemestian. Selain itu negara dalam kawasan juga diharuskan membebaskan arus investasi, modal dan tenaga terampil. MEA memang sebuah kesepakatan yang mempunyai tujuan yang luar biasa namun beberapa pihak juga mengkhawatirkan kesepakatan ini. Arus bebas barang, jasa, investasi, modal dan tenaga kerja tersebut tak pelak menghadirkan kekhawatiran tersendiri bagi beberapa pihak. Dalam hal ini passa potensial domestik dan lapangan pekerjaan menjadi taruhan. Sekedar bahan renungan, indek daya saing global Indonesia tahun 2013-2014 (localizando 38) yang jauh di bawah Singapura (2), Malásia (24), Brunai Darussalam (26) dan satu peringkat di bawah Tailândia (37). Di sisi lain coba kita lihat populasi Indonésia yang hampir mencapai 40 populasi ASEAN. Sebuah passa yang besar tapi tak didukung daya saing yang maksimal. Jangan sampai Indonésia mengulang dampak perdagangan bebas ASEAN China. Berharap peningkatan perekonomian malah kebanjiran produk China. B. Peluang dan tantangan Indonésia dalam kegiatan Masyarakat Ekonomi ASEAN 1. Pada Sisi Perdagangan Menurut Santoso pada 2008 Bagi Indonesia sendiri, MEA akan menjadi kesempatan yang baik karena hambatan perdagangan akan cenderung berkurang bahkan menjadi tidak ada. Hal tersebut akan berdampak pada peningkatan eskpor yang pada akhirnya akan meningkatkan GDP Indonésia. Di sisi lain, muncul tantangan baru bagi Indonésia berupa permasalahan homogenitas komoditas yang diperjual-belikan, contohnya untuk komoditas pertanian, karet, produk kayu, tekstil, dan barang elektronik. 2. Pada Sisi Investasi kondisi ini dapat menciptakan iklim yang mendukung masuknya Investimento Estrangeiro Direto (IED) yang dapat menstimulus pertumbuhan ekonomi melalui perkembangan teknologi, penciptaan lapangan kerja, pengembangan sumber daya manusia (capital humano) dan akses yang lebih mudah kepada pasar dunia. 3. Aspek Ketenagakerjaan Terdapat kesempatan yang sangat besar bagi para pencari kerja karena dapat banyak tersedia lapangan kerja dengan berbagai kebutuhan akan keahlian yang beraneka ragam. Selain itu, akses untuk pergi keluar negeri dalam rangka mencari pekerjaan menjadi lebih mudah bahkan bisa jadi tanpa ada hambatan tertentu. MEA juga menjadi kesempatan yang bagus bagi para wirausahawan untuk mencari pekerja terbaik sesuai dengan kriteria yang diinginkan. Riset terbaru dari Organisasi Perburuhan Dunia atau ILO menyebutkan pembukaan pasar tenaga kerja mendatangkan manfaat yang besar. Selain dapat menciptakan jutaan lapangan kerja baru, skema ini juga dapat meningkatkan kesejahteraan 600 juta orang yang hidup di Asia Tenggara. Pada 2015 mendatang, OIT merinci bahwa permintaan tenaga kerja profesional akan naik 41 atau sekitar 14 juta. Sementara permintaan akan tenaga kerja kelas menengah akan naik 22 atau 38 juta, sementara tenaga kerja level rentah meningkat 24 atau 12 juta. Namun laporan ini memprediksi bahwa banyak perusahaan yang akan menemukan pegawainya kurang terampil atau bahkan salah penempatan kerja karena kurangnya pelatihan dan pendidikan profesi. Jadi, penulis menyimpulkan bahwa peluang dan tantangan Indonésia dalam Mayarakat Ekonomi ASEAN sangatlah besar. Indonésia dapat memperoleh beberapa keuntungan diantaranya meningkatkan pertumbuhan ekonomi. Namun hal itu juga harus diikuti oleh perbaikan kualitas sumber daya manusia, dan pemanfaatan sumber daya alam semaksimal mungkin. C. Resiko yang dihadapi Indonésia saat MEA 1. risco de concorrência akan muncul dengan banyaknya barang impor eang akan mengalir dalam jumlah banyak ke Indonésia andang akan mengancam industri lokal dalam bersaing dengan produk-produk luar negri yang jauh lebih berkualitas. Hal ini pada akhirnya akan meningkatkan defisit neraca perdagangan bagi Negara Indonesia sendiri. 2. risco de exploração dengan skala besar terhadap ketersediaan sumber daya alam oleh perusahaan asing yang masuk ke Indonésia sebagai negara yang memiliki jumlah sumber daya alam melimpah dibandingkan negara-negara lainnya. Tidak tertutup kemungkinan juga eksploitasi yang dilakukan perusahaan como o dapat merusak ekosistem da Indonésia, sedangkan regulasi investasi yang ada di Indonésia, que é um dos principais especialistas em termos de saúde e saúde. 3. risiko ketenagakarejaan dilihat dari sisi pendidikan dan produktivitas Indonésia masih kalah bersaing dengan tenaga kerja yang berasal dari Malásia, Singapura, dan Tailândia serta fondasi industri yang bagi Indonésia sendiri membuat Indonésia berada pada peringkat keempat di ASEAN. Menurut Media Indonesia, Kamis 27 Maret 2014, dengan adanya passando barang dan jasa secara bebas tersebut akan mengakibatkan tenaga kerja asing dengan mudah masuk dan bekerja da Indonésia sehingga mengakibatkan persaingan tenaga kerja yang semakin ketat di bidang ketenagakerjaan. Saat MEA berlaku, di bidang ketenagakerjaan ada 8 (delapan) professi yang telah disepakati untuk dibuka, yaitu insinyur, arsitek, perawat, tenaga survei, tenaga pariwisata, praktisi medis, dokter gigi, dan akuntan Hal inilah yang akan menjadi ujian baru bagi masalah dunia Ketenagakerjaan di Indonesia karena setiap negara pasti telah bersiap diri di bidang ketanagakerjaannya dalam menghadapi MEA. Bagaimana dengan Indonesia Dalam rangka ketahanan nasional dengan tetap melihat peluang dan menghadapi tantangan bangsa Indonésia da era MEA nantinya, khususnya terhadap kesiapan tenaga kerja Indonésia sangat diperlukan langkah-langkah konkrit ágar bisa bersaing menghadapi tenaga kerja asing tersebut. Namun disisi lain, dengan adanya MEA, tentu akan memacu pertumbuhan investasi baik dari luar maupun dalam negeri sehingga akan membuka lapangan pekerjaan baru. Selain itu, penduduk Indonésia akan dapat mencari pekerjaan di negara ASEAN lainnya dengan aturan yang relatif akan lebih mudah dengan adanya MEA ini karena dengan terlambatnya perekonomian nasional saat ini dan didasarkan pada dados Badan Pusat Statistik (BPS), jumlah pengangguran por februari 2014 dibandingkan fevereiro 2013 Hanya Berkurang 50.000 orang. Padahal bila melihat jumlah pengguran tiga tahun terakhir, por fevereiro 2013 pengangguran berkurang 440.000 orang, sementara pada Fevereiro 2012 berkurang 510.000 orang, dan per Februari 2011 berkurang sebanyak 410.000 orang (Koran Sindo, Selasa, 6 Mei 2014). Dengan demikian, hadirnya MEA diharapkan akan mengurangi pengangguran karena akan membuka lapangan kerja baru dan menyerap angkatan kerja yang ada saat ini untuk masuk ke dalam pasar kerja. Untuk itu, penulis menyimpulkan bahwa resiko yang akan muncul dalam Masyarakat Ekonomi ASEAN adalah persaingan industri lokal dengan industri asing, pengeksploitasian sumber daya alam oleh Negara asing, serta persaingan tenaga kerja lokal dengan tenaga kerja asing yang lebih berkualitas. D. Cara menghadapi Masyarakat Ekonomi ASEAN Banyak cara sekaligus persiapan untuk menghadapi Masyarakat Ekonomi ASEAN (MEA) pada 2015. Hal ini juga merupakan tantangan karena sejatinya pola pikir dan semangat pemerintah serta para pelaku ekonomi Indonésia masih seperti biasanya. 1. Menurut ekonom dari Universitas Islam Indonésia (UII) Yogyakarta Edy Suandi Hamid, pemerintah dan pelaku ekonomi harus lebih ofensif menghadapi Masyarakat Ekonomi ASEAN 2015 dengan memperluas pasar barang, jasa, modal, investasi, dan pasar tenaga kerja. Adanya MEA harus dipandang sebagai bertambahnya pasar Indonésia menjadi lebih dari dua kali lipat, yakni di 250 juta menjadi 600 juta, katanya. Dengan pola pikir dan semangat seperti itu, dia berharap Indonésia dapat memetik manfaat optimal dari MEA. Perekonomian harus didorong lebih cepat tumbuh, ekspansif, dan berdaya saing, bukan sebaliknya. 2. Menurut diplomata sénior Makarin Wibisono juga mengingatkan bahwa dalam menghadapi MEA 2015, Indonésia perlu memperhatikan pertumbuhan dan perkembangan sektor jasa. Liberalisasi pasar jasa akan menguntungkan bagi Indonésia dalam dinamika MEA, kata Makarim dalam seminário Perhimpunan Persahabatan Indonésia-Tiongkok di Jakarta, beberapa waktu lalu. Menurut dia, liberalisasi pasar jasa menguntungkan karena meningkatkan kualitas serta menentukan biaya kewajaran bagi tenaga kerja sehingga kemudian meningkatkan daya saing di sektor industri. Pasar jasa yang efisien, menurut Makarim, akan meningkatkan pilihan konsumen, produktivitas, kompetisi, dan kesempatan untuk pembangunan sektor jasa baru. Jika terjadi inefisiensi, dampak negatifnya pada produktivitas, inovasi, distribusi teknologi, dan menghalangi tercapainya pertumbuhan ideal, kata Duta Besar Indonésia untuk PBB (2004--2007) ini. 3. Menurut rektor Universitas Sebelas Maret (Solo) Ravik Karsidi salah satu persiapan UNS adalah dengan mempersiapkan sumber daya manusia (SDM) habilidade difícil de dengan e habilidade suave. Dari segi hard skill, UNS mempersiapkan kurikulum agar mahasiswanya mampu bersaing dengan lulusan perguruan tinggi luar negeri. Sementara itu, dari segi soft skill, UNS membekali mahasiswanya dengan persiapan espiritual e mental melalui pelatihan quociente espiritual (SQ). Programa ini ditindaklanjuti dengan pelatihan soft skill di tingkat fakultas. Di antara pelatihan itu adalah tentang kepemimpinan, komunikasi dan kemampuan bahasa. Jadi dapat penulis simpulkan, untuk mengatasi tantangan serta resiko yang mungkin akan muncul dalam Masyarakat Ekonomi ASEAN dapat dilakukan dengan membekali diri dengan ilmu pengetahuan, menanamkan rasa cinta terhadap produk dalam negeri, serta mempertajam habilidade suave com habilidade difícil masyarakat. Dengan hadirnya ajang MEA ini, Indonésia memiliki peluang untuk memanfaatkan keunggulan skala ekonomi dalam negeri sebagai base memperoleh keuntungan. Namun demikian, Indonésia masih memiliki banyak tantangan dan risiko-risiko yang akan muncul bila MEA telah diimplementasikan. Oleh karena itu, para risco profissional diharapkan dapat lebih peka terhadap fluktuasi yang akan terjadi agar dapat mengantisipasi risiko-risiko yang muncul dengan tepat. Selain itu, kolaborasi yang tepat antara otoritas negara dan para pelaku usaha diperlukan, infrastrukur baik secara fisik dan social (hukum dan kebijakan) perlu dibenahi, serta perlu adanya peningkatan kemampuan serta daya saing tenaga kerja dan perusahaan di Indonesia. Jangan sampai Indonésia hanya menjadi penonton di negara sendiri di tahun 2015 mendatang. Sesuai dengan kesimpulan diatas, maka penulis merumuskan saran dalam makalah ini sebagai berikut: 1. Hendaknya pemerintah melakukan sosialisasi kepada masyarakat programa Mengenai Masyarakat Ekonomi ASEAN. 2. Pemerintah lebih memperhatikan UKM agar mampu bersaing dengan pasar internasional. 5. Putong, Iskandar. 2003. Pengantar Ekonomi Mikro dan Makro. Jakarta: Lembaga Penerbit Fakultas Ekonomi Universitas Indonésia. 7 komentar: Mau dapat uang dengan mudah lewat android Jika ingin gunakan aplikasi whaff. Caranya ini ya 1.Descarregar aplikasi Whaff di smartphone anda, aplikasinya di googleplaystore ya. 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Fbs2009UK Mail Group (UKM) LSE: UKM: Resultados finais após o período de maior transição 183160160 Receitas do grupo de 163481,0 milhões 0,8 no ano anterior (2015: 163485,1 milhões) 183160160 Lucro do grupo antes de impostos 16310,7 milhões (2015: 16321.0m), em linha com a orientação anterior 183160160 Resultado excepcional líquido de 1633,7 milhões (2015: custos excepcionais líquidos de 1630,9 milhões), refletindo a remuneração recebida do HS2 para deslocalização de hub, compensada por deslocalização e outros custos excepcionais 183160160 Lucro para o exercício 16311.9 M (2015: 160 1635.1m) 183160160 Pagamento de compensação final HS2 de 16310,3 milhões recebido em novembro de 2015 183160160 Caixa líquido no final do exercício de 1632,2 milhões (2015: dívida líquida de 1635,2 milhões) 183160160 Dividendo final de 10,9p por ação (2015: 14,5 P), dando um dividendo total para o ano de 16.4p (2015: 160 21.8p) Peter Kane, presidente do UK Mail, disse: - O ano passado foi um desafio, mas nós fizemos bons progressos na implementação de um plano detalhado para abordar Os problemas que enfrentamos durante a transição Para o nosso novo hub automatizado .160 O hub está agora a funcionar muito bem e a alcançar bons níveis de transferência, tendo recentemente processado a sua parcela 30 milhões, com níveis de serviço consistentemente elevados tanto em pacotes quanto em correio nos últimos meses.160 A lógica estratégica para os investimentos Nós tornamos os acontecimentos convincentes e nos preparamos bem para a próxima etapa de crescimento lucrativo.160 Espera-se que os benefícios começem a aparecer no segundo semestre do ano atual, pelo que continuamos a esperar que a performance seja mais Segunda metade ponderada do que o habitual. Para mais informações, entre em contato com a UK Mail permanece no meio de um período de grande transição, tendo completado a mudança de seu centro de Birmingham para uma nova instalação automatizada em Ryton em julho de 2015, e o ano em análise foi desafiador Para o Grupo. A transição, como o desenvolvimento estratégico mais importante na história dos Grupos, oferecerá oportunidades a longo prazo e nos colocará entre os operadores mais eficientes e competitivos em nosso mercado.160 No entanto, sempre se esperava que fosse desafiador no curto prazo E, como relatado anteriormente, tornou-se aparente no verão passado que os desafios a curto prazo e seu impacto no desempenho dos anos atuais seriam maiores do que originalmente tinham sido antecipados. Um plano detalhado para abordar as questões está bem encaminhado, e continua a ser nossa expectativa de que as resolviamos por completo no decorrer do atual exercício financeiro.160 Os níveis de serviço, tanto em nossas empresas de pacotes quanto de correio, alcançaram consistentemente altos níveis nos últimos meses, E o novo hub automatizado agora está operando muito bem e alcançando bons níveis de transferência160 tendo recentemente processado seu pacote de 30 milhões. O impacto das questões que surgiram durante a transição significa que o desempenho financeiro do Grupo para o ano tem sido muito decepcionante, embora alinhado com a orientação anterior. As receitas do Grupo reportado no ano diminuíram 0,8 em relação ao ano anterior.160 O lucro do grupo antes de impostos e itens excepcionais diminuiu 49,2 para 16310,7 milhões (2015: 16321,0 milhões). Em nosso negócio de Pacotes (52 de receita do grupo), as receitas cresceram 1,4,160. Esse crescimento de receita foi suportado pelo crescimento médio de volume diário de 4,5, refletindo algumas importantes conquistas de novos clientes e ponderada em relação aos clientes B2C, relacionada ao crescimento nas compras on-line.160 O impacto do efeito do mix de vendas combinado com o aumento dos custos operacionais que incorremos como resultado da deslocalização de nossas operações, significou que a margem operacional das parcelas reduziu para 6,4 (2015: 9,7) eo lucro operacional antes de itens excepcionais diminuíram Para 16315,9 m (2015: 16323,6 m). Conforme anunciado em nossos resultados intercalares em novembro, nossa operação de Courier agora está integrada no nosso negócio de Pacotes.160 Nas receitas do nosso Mail (48 do grupo de receitas) reduzidas em 3.1. O nosso volume de correio diário aumentou 5,2 no ano, em comparação com um mercado que viu um declínio geral do volume de cerca de 3,0,160. Esse crescimento de volume foi impulsionado pela forte retenção de clientes e por novas conquistas de clientes.160 O mercado de correspondência é altamente competitivo e isso, Combinado com algum impacto no nosso negócio Mail das questões operacionais mais amplas relacionadas ao movimento para a Ryton, significou que o lucro operacional diminuiu 18,3 para 16310,1 m (2015: 160 16312,5 milhões), com a margem operacional reduzindo para 4,4 (2015: 5,2 ) .160 Nosso negócio de Correio permanece bem posicionado em seu mercado com um pipeline saudável de novas oportunidades de negócios.160 Continuamos a ver bons progressos em relação às inovações de produtos novos e relacionados. O Grupo permanece em boa posição financeira. O caixa 160Net no final do ano foi de 1632,2 milhões (2015: dívida líquida de 1635,2 milhões) .160 O pagamento de compensação final do HS2 de 16310,3 milhões foi recebido em novembro de 2015 e o período de investimento substancial no hub e automação está completo. Dado o impacto das questões operacionais sobre os resultados financeiros, no ano que acaba de terminar e no ano em curso, o Conselho de Administração resolveu em novembro de 2015 que seria prudente rebaixar o dividendo. 160160O Conselho propôs, portanto, um Dividendo Final de 10.9p por ação (2015: 14.5p) .160 Isso dá um dividendo total para o ano de 16.4p (2015: 21.8p) .160 Este dividendo é coberto 0,94 vezes pelo lucro básico subjacente Por ação (1.32 vezes por lucro básico por ação). Esperamos retornar aos níveis anteriores de cobertura de dividendos no devido tempo, à medida que nossos ganhos crescem. O processo de identificação de um sucessor de Guy Buswell, que demitiu como Chefe do Executivo em novembro, está em andamento.160 Peter Kane continua a atuar como Presidente Executivo até que seja feita uma nomeação.160160160 Nossa estratégia é aumentar a receita e a lucratividade estabelecendo um mercado Posição de liderança em nossos principais mercados de parcelas e correio, com foco claro em altos níveis de serviço e eficiência de rede, juntamente com a inovação de produtos e serviços.160 Para isso, e para facilitar o crescimento futuro do negócio, criamos capacidade adicional, Tanto em nossas operações como em áreas de suporte, incluindo investimentos significativos em TI Níveis de alto serviço Os altos níveis de serviço são um elemento vital para o sucesso em nosso setor.160 Os clientes e os destinatários esperam que suas remessas sejam entregues na escala de tempo acordada sem perda ou dano.160 Os níveis de serviço a este respeito, em nossas empresas de colégio e correio, têm Atingiu níveis consistentemente elevados nos últimos meses. Também continuamos a introduzir melhorias e inovações para o nosso negócio para melhorar ainda mais o serviço que oferecemos. Uma parte fundamental da nossa oferta de clientes é a nossa janela de entrega de uma hora, o que ajuda a tornar o UK Mail um dos líderes da indústria no mercado de entrega de Pacotes.160 Este serviço fornece aos clientes notificação antecipada sobre o horário de entrega, com as facilidades para Altere o local de entrega e o dia.160 Recentemente, aprimoramos este serviço para fornecer recursos adicionais para os clientes, inclusive nas mudanças de opções de entrega de vôos e na cartografia de localização de entrega GPS.160 Continuamos a avançar opções de entrega alternativas e inovadoras. Uma rede de baixo custo e eficiente é a chave para a nossa posição no mercado.160 Isso nos permite ganhar e manter contratos com bons níveis de lucro em mercados que continuam a ser muito competitivos. Os principais fatores para alcançar esse objetivo são: Uma Rede Integrada para as nossas Encomendas e Empresas de Correio Esta integração nos permite espalhar os custos fixos de nossa operação e gerar benefícios operacionais.160 A natureza integrada da nossa rede, que é única no Reino Unido , Também nos permite oferecer serviços que nossos concorrentes não podem combinar.160 Continuamos a avançar com a integração de nossa operação Courier em nossa rede de Pacotes, proporcionando maiores eficiências e opções de entrega aprimoradas para os clientes. Uso extensivo e inovador de I. T. Em nossa indústria I. T. É um diferencial chave.160 Nós lemos cerca de 230.000 parcelas por noite, juntamente com alguns itens de correio de 12m.160 A capacidade de acompanhar o progresso desses itens através da nossa rede e fornecer aos clientes informações sobre esse progresso é vital, assim como a provisão de Soluções sofisticadas centradas na experiência do consumidor final. No ano, continuamos investindo no nosso I. T. Infra-estrutura, aumento de capacidade e resiliência.160 Realizamos com êxito uma grande atualização para os nossos principais sistemas Track and Trace e Integration Hub em fevereiro.160 Introduzimos novos serviços e informações de dados para nossos destinatários e também estamos aprimorando nossa capacidade de suportar e impulsionar a inovação No nosso negócio através de uma TI multi-ano Programa de mudança, centrado em uma estrutura de arquitetura orientada para serviços. O uso efetivo da classificação automatizada é vital em nossa indústria, para reduzir ainda mais os custos de sortimentos e aumentar a capacidade.160 Após o movimento para o novo hub Ryton com seus novos equipamentos automatizados de triagem, pretendemos continuar a aumentar o nível de sorção automatizada.160 Tomamos medidas para alterar o perfil das remessas que lidamos para fazer o melhor uso do classificador de parcelas automatizado.160 No entanto, permanecerá um elemento significativo das remessas que manipulamos, que não serão compatíveis com a classificação automatizada, normalmente devido a Seu tamanho.160 A capacidade de lidar com essas remessas é um diferencial chave para nós em comparação com aqueles concorrentes que são 100 automatizados.160 Para nos permitir lidar eficientemente com essas remessas não máquinas, adicionamos um segundo hub central que será utilizado principalmente para Este propósito. Inovação de produtos e serviços O terceiro fator chave em nossa estratégia é a inovação de produtos e serviços.160 Estamos focados em continuar a expandir o tamanho dos mercados disponíveis para nós e aumentar nossa participação desses mercados.160 Para isso, introduzimos novos E produtos e serviços inovadores em nossos pacotes e nossos negócios de correspondência.160 Esta estratégia continua a ganhar força valiosa para nos ajudar a conquistar novos clientes. As áreas-chave que estamos progredindo são: ipostparcels - um serviço de entrega e entrega de parcelas líder para empresas de clientes finais e clientes. Retail Logistics - um serviço de entrega de encomendas voltada para as necessidades das empresas de varejo - um híbrido líder no mercado (web-to-print) Serviço postal imailprint - um serviço de impressão baseado na Internet, vinculado à imail, que pode atender aos requisitos de impressão localizados Pacotes - um serviço de entrega e entrega de pacotes que oferece soluções econômicas em conjunto com o serviço de entrega final final Royal Mails Além disso, no Mail lançamos nossa inovadora and market leading, turn-key solution for the Royal Mail Mailmark service, whereby we manage and process individual item data on behalf of our customers with the Royal Mail.160 Integrating the item data with our track and trace data, we provide a clearer chain of custody for the mail, more accurate data input into Royal Mail reporting systems, and as a result minimise current and future Royal Mail surcharges. Making Profitable Use of Increased Capacity UK retail e-commerce sales are predicted to increase by some 10 p. a. driven by the continued strong growth in online shopping.160 We have the opportunity to benefit from the market growth this will create, together with the potential to grow our market share. To manage this growth we have increased the capacity in our operations, and our objectives now are to make the best use of this and therefore increase the profitability of the volumes processed. Increasing the capacity of our overall network is vital as our core markets continue to show strong growth.160 We will achieve this through fully utilising the new central hub and through localised expansion where needed. The new automated hub is operating well and achieving good throughput levels, and our objective now is to further increase the volumes that it processes, through improved network planning and hub operating methods, and through further enhancements to the automated sorter throughput.160 We are also about to introduce a new computerised model to optimise the efficiency of our linehaul operations and, therefore, our overall network. We have also added a second central hub which is focussed on the non-machineable freight that is not efficient for our automated hub to process.160 This facility increases our overall capacity and allows us to handle freight that, whilst bulky and not suitable for automated sortation, can provide a profitable income stream. Innovation in Delivery Methods To make the most efficient use of our delivery sites and vehicles, as well as to provide a range of delivery options to recipients, we are progressing a range of innovations in our delivery methods. These include deliveries throughout the day and evening, which make best use of our delivery sites and vehicles as well as providing flexibility for customers. We are also progressing alternative delivery and collection options such as retail stores and locker boxes. Creating Support Capacity The number of transactions processed in our business on a daily basis, including parcels and mail, has increased significantly in the last three years.160 We have enhanced our support capacity to manage this growth, with a key emphasis on our I. T. infrastructure.160 We are now progressing plans to create significant further such capability to support the future growth potential of the business. We have a clear strategy which will allow us to grow revenue and profitability in markets which, whilst they are competitive, continue to offer good growth opportunities. The transition of our business to the new hub and new method of operation did not go as we planned but we understand the causes of the problems and are well advanced in taking actions to address them to get the business fully back on track. We believe that the completion of the recovery plan, combined with the other improvements we are making in product and service innovation, and the capacity we have created, will provide a robust platform for further growth over the coming years. The results can be summarised as follows: Revenues in Parcels, which comprises the Groups business-to-business (B2B), business-to-consumer (B2C) international parcel delivery service and courier operations, were up 1.4 to 163247.9m (2015: 163244.6m). Parcels average daily volumes increased by 4.5 compared to last year.160 We continue to see an on-going volume mix change towards the lower margin B2C segment.160 The Parcels operating margin for the period reduced to 6.4 (2015: 9.7), resulting in operating profit before exceptional items for the period reducing to 16315.9m (2015: 16323.6m).160 Both the rate of volume growth and the operating margin have been impacted by the operational issues related to our move to the new hub.160 The profit reduction is partly due to the temporary increase in operating costs associated with this and also due to a magnified mix effect as a result of the increased customer churn we experienced in the first half of the year. A detailed plan has been underway to address these issues including a number of near-term initiatives that have already eased the pressures on the hub.160 A key decision we have taken is to introduce a second central hub which will specialise in handling the non-machineable freight.160 This is a highly efficient cross-dock facility designed specifically for such use and, whilst it increases our overall central hub costs, it allows the automated hub to focus on machineable freight whilst enabling us to retain significant volumes of non-machineable freight which we see as a good profit stream. The efficiency of the main hub will also improve as new customers come on board thereby increasing volume throughput, with some of that new volume arriving at the new hub throughout the day rather than just in the peak hours. More widely, our plan involves re-engineering our line haul template to fully align it with the efficiency of the new hub. We are shortly to introduce a new computerised model to optimise the planning of our linehaul routing, with the new routing being rolled out during the second quarter.160 This is expected to deliver improvements in trunk vehicle utilisation levels and therefore a reduction in overall linehaul costs.160 Peter Fuller joined as Operations Director in April 2016.160 With substantial experience in parcels distribution and specifically in managing automated facilities, most recently at Parcelforce where he was Operations Director, Peter will be instrumental in the execution of our plans, and encouraging progress has already been made.160 The sortation equipment is operating effectively, service levels are now back to where they should be, and the machine has recently processed its 30 millionth item. We have a number of significant potential customers keen to use the services available through our new hub.160 We continue to make good progress with product innovations in our Parcels business.160 These include Retail Today, our same-day delivery service combining our parcels and courier operations, and ipostparcels, which represents one of the lowest-cost and most user-friendly online collection and delivery services available in the UK.160 To support the growing demand for same-day deliveries in the retail sector, we are expanding our same-day service capability, particularly in the Greater London area.160 Revenues and profits grew well for these operations and we continue to invest in further enhancing our services in these areas. Key to our parcels market position is the provision of value added services that customers increasingly demand.160 Our enhanced next day delivery service, which offers advance-notice one-hour delivery and collection windows, is consistently achieving strong service levels of over 95.160 We have now enhanced this service to include further customer features, including the ability to redirect a delivery after the delivery driver has left the depot as well as GPS stamping, which is a key function to allow us to confirm that a delivery has been made based on the GPS coordinates of the delivery confirmation.160160 We are also progressing our plans to offer parcel drop-off and collection points, including a trial with a national multi-site retailer. Mail revenues reduced by 3.1 to 163233.1m (2015: 163240.5m).160 Our daily Mail volumes increased by 5.2 on the previous year, compared to a decline in transactional volumes of some 3 per annum in the overall UK mail market, showing that we have achieved further market share gains. The operational issues we faced across our business in the year had some impact on our Mail business, principally in the form of additional operating costs. 160These were incurred to maintain service levels to customers which we are pleased to report continue to be at a very high level.160 In addition, the pricing environment within the mail market remains highly competitive.160 As a result, Mail operating profits decreased by 18.3 to 16310.1m (2015: 16312.5m). 160 The operating margin decreased to 4.4 (2015: 5.2).160 We have been successful in growing our volumes and our market share despite the underlying structural decline in the physical mail market overall.160 In the past year there have been a number of substantial mail accounts out for tender, and we have achieved a strong record of retaining existing customers, and of winning competitor accounts, albeit with some pricing pressures. Our continued product innovation has helped us to offset this mail market decline and the associated pricing pressures, and will continue to do so.160 imail, our web-to-print postal service, continues to show good revenue and profit growth.160 We continue to invest to increase our capacity and provide additional services.160 imailprint has now been successfully launched, providing a specialist printing service which, rather than being purely mail-related as with our current service, can produce printed documents for general usage.160 We see this as a medium-term low risk growth opportunity using our existing infrastructure. In addition, we have launched an innovative turn-key solution for the Royal Mail Mailmark service, where we manage and process individual item data on behalf of our customers with the Royal Mail.160 By providing a clearer chain of custody for the mail and more accurate data input into Royal Mail reporting systems, we can minimise current and future Royal Mail surcharges for our customers. A key growth element of the Mail market is the rising popularity of packets a market we estimate to be worth some 1631.2bn. 160Whilst we have made some progress in this area in recent years, our share of the market remains very low. We now have a clear plan in place to grow our market share, with specialist packets sortation equipment in place which allows us to offer a service that fully meets our customers requirements.160 We have increased the size of our sales team to capitalise on this and are gaining good traction with customers.160 We expect to see a positive impact in the current financial year, and continue to believe that this area will be key to growing our Mail revenues and profitability in the future. In June 2015 Ofcom announced it was undertaking a Fundamental Regulatory Review of Royal Mail.160 Its stated aims were to ensure regulation remains appropriate and sufficient to secure the efficient and financially sustainable provision of the universal postal service, assess Royal Mails efficiency, consider its position within the parcels sector, and assess Royal Mails potential ability to set wholesale prices in a way that might harm competition. We have responded to the Ofcom discussion paper on this subject. We understand that Ofcom are soon to publish a more detailed Consultation Document setting out their views and proposals.160 We will actively participate in the consultation process that follows the issue of this paper. UK Mail remains a market leader with an operational template ideally suited to the evolving demands of the mail market.160 We remain focussed on growing our business by handling additional mail for existing customers and winning volumes from other Downstream Access operators.160 We continue to invest for the future, and see substantial growth opportunities for the medium and longer term. Central costs reduced by 1.6 to 16314.8m (2015: 16315.1m), with our increased investment in I. T. having been offset by savings in other areas. Finance cost for the period was 1630.5m (2015: 163nil).160 This partly reflects the investment in the new hub and our initial funding of the relocation costs, which were subsequently reclaimed from HS2.160160 The investment in our new hub and automation was largely completed in the year and the final HS2 compensation was received in November 2015. During the year we agreed specific compensation payments with the Department for Transport and HS2 Ltd in relation to the relocation of our Birmingham hub and head office to Ryton near Coventry, as a result of the proposed High Speed Two (HS2) railway.160 Of these amounts, 16322.0m was received in the year (2015: 1634.3m) including the final compensation payment of 16310.3m which was paid in November 2015. The costs of the move to the new site, including the I. T. data centre move and related staff costs have now been incurred.160 The costs of reinstating our existing capability have been fully compensated by the DfT and HS2. Our results include net exceptional income as follows:160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160160 The profit on sale of the national hub results from the compulsory acquisition of the National hub and offices at Birmingham by the DfT and HS2 Ltd as a result of the proposed HS2 railway. The amounts received from HS2 relate to agreed compensation for the impact of HS2 on our business.160 The cost of automation implementation represents the cost incurred as we implement and roll out the new automation equipment.160 The costs primarily relate to asset write-offs of equipment no longer required. National hub relocation costs represent disturbance costs associated with the relocation of our National hub and offices to Ryton. The impairment of intangible assets charge results from a comprehensive strategic review of the Groups I. T. systems which identified a number of software assets that did not fit within the medium and long term strategic goals of the Group, and which therefore offered no future economic value.160 The impairment of tangible assets charge relates to the cost of sortation equipment and related facilities that are no longer required. The management reorganisation costs principally relate to the reorganisation of the Board which occurred during the year.160 These costs include the contractually required payments to departing directors, following mitigation, and the appointment costs of new Board directors.160 The search for a new CEO is ongoing at the date of this report. The Groups financial position remains sound.160 Despite the significant investment in our new hub and in automation, details of which are set out below, we had net cash at the end of the year of 1632.2m (2015: net debt of 1635.2m). The group invested a further 1634.1m (net of HS2 compensation) in the new hub and automation in the year, taking the total investment to 16352.2m.160 The investment in the year has been offset by monies received from HS2 relating to the hub move of 16315.7m. Net cash inflow from operations totalled 16331.3m (2015: 16328.6m), including 16331.0m (2015: 16328.2m) from continuing operations.160 The total consolidated net cash inflow for the year was 1632.2m (2015: outflow 16322.8m) which included 1632.3m cash generated from working capital (2015: nil), and a net 16311.2m (after allowing for the deferred compensation received from HS2) expended on capital additions (2015: 16343.9m). The Group paid 16311.0m (2015: 16311.8m) in dividends during the year. To provide funding for the investment in the new hub and automation the Group agreed a 16325m five year revolving credit facility with Lloyds Bank plc in May 2014.160 This facility which supports the cash requirements of the investment programme, was undrawn at 31 March 2016. The Group has in place further funding facilities to support our investment programme and to provide adequate working capital facilities.160 These comprise asset lease funding and overdraft facilities. Capital additions for the year included our underlying business capital expenditure combined with the further investment in our new hub and in automation. This is be summarised as follows: The underlying capital additions includes 1636.4m on I. T. as we continue to develop our system infrastructure, and 1633.6m on our network. The investment in the new hub and head office in the year comprises the payments for their construction.160 The new hub and head office were completed in February 2015. Final payments were made in April 2016 of 1630.5m. 160The cumulative total spent on the land and buildings is 16335.8m, which is in line with our original budget of 16335.0m. Our cash contribution to the building of the new hub and head office, after receipts from the DfT and HS2, is 16312.4m which covers the enhancement of the site and building beyond the scale of the previous facility.160 The automation equipment was placed live in May 2015. 160The investment in automation reflects the payments for the development, installation and commissioning of the hub and network automation equipment.160 The total capital spent on the introduction of automation was 16318.3m, compared to the original budget of 16320.0m. Earnings per share Underlying basic earnings per share decreased to 15.4p (2015: 30.3p). Basic earnings per share decreased to 21.6p (2015: 9.2p). Given the impact of the operational issues on the financial results, the Board has therefore proposed a Final Dividend of 10.9p per share (2015: 14.5p), payable on 26 August 2016 to shareholders on the register on 29 July 2016.160 This gives a total dividend for the year of 16.4p (2015:160 21.8p).160 This dividend is covered 0.94 times by underlying basic earnings per share (1.32 times by basic earnings per share). We would expect to return to prior levels of dividend cover in due course as our earnings grow. Parcels is a growth market that is polarising between high quality, innovative and sophisticated operators and those at the opposite end of the value scale.160 We are in the midst of a phase of business transition to place us at a significant competitive advantage in the value-added segment of this market for the medium and longer term. We also continue to see significant opportunities for our Mail business, from the ongoing structural changes in the marketplace and the new initiatives we are pursuing such as imail and imailprint. We are also excited by the substantial opportunities that exist to expand our packets business over the medium term. The immediate focus is to resolve the issues that arose on the transition to the new hub combined with the effective introduction and roll-out of the new automated sortation methodology, and we are making encouraging progress in this regard.160 We believe that the investment we have made in our new hub and automation will set us up very well for the next stage of profitable growth.160 The first half of the new financial year will reflect the fact that we continue to reposition our parcels business and manage the full transition to the new ways of working. The benefits of this are expected to be seen from the second half, and we therefore continue to expect performance for the year as a whole to be more weighted to the second half than usual. The strategic rationale for the transformation we are undertaking remains compelling and we are confident both of our ability to restore our parcels business to previous levels of profitability and to build from there.160 The medium term operational and financial benefits will place us amongst the most efficient and competitive operators in our market. 160The medium and long term outlook for the Group therefore remain very positive. Principal risks and uncertainties facing the business UK Mails business and share price may be affected by a number of risks, not all of which are within our control. The process UK Mail has in place for identifying, assessing and managing risks is set out in the Corporate Governance Report on page 34 of the 2015 Annual Report and Accounts. The specific principal risks and uncertainties that may affect the Groups performance, together with relevant mitigating factors as identified by the Groups risk management process were discussed on page 22 of the Groups 2015 Annual Report and Accounts. These included risks relating to national hub, IT systems, competition, business continuity, legislation and regulation and fuel factors, in addition to financial risks (details of which can be found in note 25 of the 2015 Annual Report and Accounts) including credit risk. As required by the 2014 Corporate Governance Code, the Board regularly monitors risk and since the publication of the 2015 Annual Report has removed fuel and the relocation of the national hub as principal risks and identified three new principal risks relating to operational plan failure, loss of key management and physical theft and security as follows 1601.160160160160160160160 Segmental information Management has determined the operating segments based on reports that are reviewed by the Board for making strategic decisions. These reports reflect the Groups defined management structure, whereby distinct managers are accountable to the Board for the results and activities of their identified segments and the different markets in which they operate. The Board, which is the Groups chief operating decision maker, considers that the Group has two reportable operating segments following the integration of the Courier operations into Parcels and the cessation of trading of UK Pallets Ltd in March 2015. The Groups operating segments consist of Parcels and Mail (which are shown as continuing operations). In recent years the Courier business has undergone a period of transition away from a traditional same-day courier operation towards an operation which provides specialist service support to our Parcels business. Consequently results for the comparative period have been restated to reflect the integration of the Courier operations into Parcels. The Board assesses the performance of the operating segments based on a measure of operating profit before net finance costs and taxation. Central costs comprises of network costs and central support costs. Central assets comprise mainly of corporate assets, cash, current and deferred tax balances. The Group manages its business segments on a national basis, with all its operations in the UK, as are nearly all of the customers. Inter-company transactions, (which are conducted on an arms length basis), balances and unrealised gains on transactions between segments are eliminated. Unrealised profits and losses are also eliminated. No individual customer accounted for more than 7 of revenue in the periods included in these consolidated financial statements. Net exceptional income - continuing operations The profit on sale of the national hub represents the gain on sale following the compulsory acquisition of our National hub and offices at Birmingham by the DfT and HS2 Ltd, as a result of the proposed High Speed Two (HS2) railway. The HS2 compensation relates to agreed compensation for the impact of HS2 on our business. Net exceptional costs - continuing operations The cost of automation implementation represents the cost incurred as we implement and roll out the new automaton equipment. These costs largely represent asset write offs and contract termination costs. National hub relocation costs represent disturbance costs associated with the relocation of our National hub and offices to Ryton following an agreement reached with the Department of Transport (DfT) to acquire the National hub and offices in Birmingham. These costs largely comprise 1634.0m of disturbance payments including recruitment and redundancy costs and legal amp professional fees. 1632.5m of property costs associated with running two sites for an approximate period of six months, hub expansions costs of 1630.3m and 1630.3m loss of profit due to the delay in hub capacity expansion. No further amounts are expected to be taken as exceptional costs in the 201617 financial year. The impairment of intangible assets represents the impairment cost recognised following a comprehensive strategic review of the Groups I. T. systems during the year which identified a number of software assets that did not fit within the medium and long term strategic goals of the Group, and which therefore offered no future economic value. The impairment of tangible assets represents the cost of sortation equipment and related facilities that are no longer required given the revised automation strategy of the business. The management reorganisation costs principally relate to the reorganisation of the Board which occurred during the year. These costs include the contractually agreed payments to departing directors, following mitigation, and the appointment costs of new Board directors. Exceptional costs - discontinued operations The exceptional costs of 16310.4m in respect of discontinued operations in the year ended 31 March 2015 represent an impairment of intangible assets cost of 1639.0m (comprising of 1637.9m in respect of goodwill relating to the UK Pallets business and 1631.1m relating to the write off of software developments costs), together with other closure costs of 1631.4m following a decision to close the business of UK Pallets Ltd. Other closure costs principally comprised of 1630.7m of redundancy costs and 1630.7m for contract termination and additional dilapidation costs. 4.160160160160160160160 Analysis of net cash 5.160160160160160160160 General information (i) Statutory Accounts The financial information set out above does not constitute the Groups statutory accounts for the year ended 31 March 2016 within the meaning of section 435 of the Companies Act 2006. Financial Statements for the year ended 31 March 2016 will be delivered to the registrar of companies in due course. PricewaterhouseCoopers LLP has reported on these financial statements and their report was (i) unqualified, (ii) did not include a reference to any other matters to which the auditors drew attention by way of emphasis without qualifying their report and (iii) did not contain a statement under section 498(2) or (3) of the Companies Act 2006. (ii) Accounting policies The accounting policies applied by the Group in its consolidated financial statements for the year ended 31 March 2016 are in accordance with International Financial Reporting Standards and IFRIC interpretations as adopted by the European Union (Adopted IFRSs) and the Companies Act 2006 applicable to companies reporting under IFRS. The accounting policies, which have been applied consistently to all the years presented, are set out in those financial statements. 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Kessa Beserta lampirkan. KTP dan foto berwarna 3x4 ( di scan aja trus di attach di email ) Jika ada pertanyaan, silahkan hubungi saya : Kessa Financial Consultant PT. Megah Tama ( Valbury Asia ) 085959 0000 88 26FF18C4 valentinuskessahotmail 12-10-2012 09:11 12-10-2012 09:11