DOCSLIB.ORG

Making Amazing Happen

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

Electrocomponents plc Annual Report and Accounts for the year ended March 2020 31 Making amazing happen Electrocomponents plc Annual Report and Accounts for the year ended 31 March 2020 Making amazing happen The theme for this year’s Annual Report is ‘making amazing happen’. Throughout this report you will read stories of how our We are a global people have gone above and beyond for our customers, suppliers and communities. It remains our customer-centric people and omni-channel culture that really differentiate us. This has been highly evident during the current solutions partner COVID-19 crisis, where employees from across our distribution centres to our offices for industrial have played vital roles in helping provide solutions, parts and equipment to keep critical industries running across the public customers sector, utilities, healthcare, and food and beverage (see pages 16 and 17). We are and suppliers playing an important role in fighting the spread of COVID-19 by supporting a number of manufacturing consortia as they seek to source key parts and solutions to build ventilators. We have also set up 3D Destination printing farms to produce and distribute personal protective equipment to frontline health staff in the UK and the Americas. 2025 We remain confident that the continuity of service and commitment we offer our Read more about our strategic customers and suppliers will accelerate priorities on pages 13 to 15 our journey to become first choice and therefore come out of this crisis strongly. Further information can be found at electrocomponents.com Financial highlights Contents Strategic report Corporate governance Financial statements Shareholder information Revenue Like-for-like1UHYHQXHJURZWK Strategic report 1 Group at a glance 2 £1,953.8m 2.2% Our investment proposition 3 Chair’s introduction 4 Change: +3.7% 2019: £1,884.4m 2019: 8.3% Our marketplace 6 Business model 8 &KLHI([HFXWLYH2I¿FHU¶VUHYLHZ 2 3URÀWEHIRUHWD[ Adjusted SURÀWEHIRUHWD[ 2XUVWUDWHJLFSULRULWLHV .H\SHUIRUPDQFHLQGLFDWRUV £199.6m £215.0m %XVLQHVVUHYLHZ Change: +2.3% Like-for-like1 change: (0.5)% )LQDQFLDOUHYLHZ 2019: £195.2m 2019: £214.5m Risks, viability and going concern 36 Corporate responsibility 45 1RQ¿QDQFLDOLQIRUPDWLRQVWDWHPHQW Earnings per share Adjusted2 earnings per share 34.7p 37.7p Corporate governance report 60 &KDLU¶VOHWWHU Change: +3.9% Like-for-like1 change: +1.1% 2019: 33.4p 2019: 37.0p Our Board of Directors 62 Our Senior Management Team 64 Corporate governance report 66 2 Adjusted IUHHFDVKÁRZ Audit Committee report 76 Nomination Committee report 83 £80.9m Directors’ remuneration report 86 Change: (4.3)% 'LUHFWRUV¶UHSRUW 2019: £84.5m 6WDWHPHQWRI'LUHFWRUV¶UHVSRQVLELOLWLHV Financial statements 105 ,QGHSHQGHQW$XGLWRUV¶UHSRUW *URXSDFFRXQWV &RPSDQ\DFFRXQWV )LYH\HDUUHFRUG Shareholder information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¿FDQWWD[ UDWHFKDQJHVDQGDVVRFLDWHGLQFRPHWD[ VHH1RWHRQSDJHVWRIRUUHFRQFLOLDWLRQV Annual Report and Accounts for the year ended 31 March 2020 Electrocomponents plc 1 Group at a glance :HDUHDJOREDORPQLFKDQQHOVROXWLRQVSDUWQHUIRULQGXVWULDO A JOREDO customers and suppliers. We aim to provide an unrivalled FKRLFHRILQGXVWULDODQGHOHFWURQLFSURGXFWVVROYHSUREOHPV partner ZLWKLQQRYDWLYHVROXWLRQVDQGGHOLYHUEHVWLQFODVVFXVWRPHU VHUYLFHPDNLQJLWHDV\WRGREXVLQHVVZLWKXV L 26% 64% 10% Americas EMEA $VLD3DFLÀF Revenue: £515.7m Revenue: £1,239.8m Revenue: £198.3m Percentage of EMEA revenue Northern Europe 45% 2.1% 2.2% 6RXWKHUQ(XURSH 2.7% &HQWUDO(XURSH /LNHIRUOLNHJURZWK /LNHIRUOLNHJURZWK Emerging markets 4% /LNHIRUOLNHJURZWK Through our international scale and reach… «ZHRSHUDWHUHVSRQVLEO\WKURXJKDEURDGUDQJHRILQGXVWULHV Manufacturing Services Infrastructure c. 53% c. 37% c. 10% of revenue1 of revenue1 of revenue1 • 3URFHVVPDQXIDFWXULQJ • 3XEOLFVHFWRU • Utilities, transport and communications • Electronics • Business and other services • Mining and construction • 2ULJLQDOHTXLSPHQWPDQXIDFWXUHUV • 5HWDLOORJLVWLFVDQGZKROHVDOH 2(0V DQGJHQHUDOPDQXIDFWXULQJ ([FOXGHVSULYDWHDQGXQFODVVL¿HGFXVWRPHUUHYHQXH 2XUOHDGLQJEUDQGV« 2XURZQEUDQG« Our value-added VROXWLRQEUDQGV« 56&RPSRQHQWV 56 LVWKHOHDGLQJ 56352LVRXURZQEUDQGUDQJHRIPRUH DesignSpark is our online design omni-channel provider of industrial and WKDQKLJKTXDOLW\FRPSHWLWLYHO\ community and resource centre for electronic products and solutions to SULFHGSURGXFWV PDNHUVVWXGHQWVDQGGHVLJQHQJLQHHUV industrial customers across EMEA DQG$VLD3DFL¿FDVZHOODVSURYLGLQJ 2XU6%&DQG,R7EUDQG« HOHFWURQLFVLQWKH$PHULFDV IESA provides outsourced procurement, inventory and stores management OKdo is our global technology business, services, in addition to transactional $OOLHG(OHFWURQLFV $XWRPDWLRQ $OOLHG focused on meeting the rapidly evolving SURFHVVLQJVROXWLRQV is a leading omni-channel industrial needs of single-board computing SURYLGHULQWKH$PHULFDVZLWKDIRFXV 6%& DQG,QWHUQHWRI7KLQJV ,R7 RQDXWRPDWLRQDQGFRQWURO VHJPHQWVZRUOGZLGH Our products and solutions categories… • IndustrialZHVXSSO\DEURDGUDQJHRISURGXFWVDQGVROXWLRQVIURPWHVWDQGPHDVXUHPHQWLQFOXGLQJWHVWLQJDQGFDOLEUDWLRQ WKURXJKWRDXWRPDWLRQDQGFRQWUROZLWKSURGXFWVDFURVVPHFKDQLFDOÀXLGSRZHUIDFWRU\DXWRPDWLRQDQGPDFKLQHVDIHW\DVZHOO DVHPHUJLQJWHFKQRORJLHVVXFKDVURERWLFV:HRIIHUIDFLOLWLHVPDLQWHQDQFHSURGXFWVLQFOXGLQJWRROVSHUVRQDOSURWHFWLYHHTXLSPHQW VLWHVDIHW\DQG'SULQWLQJ:HDOVRSURYLGHRXWVRXUFHGSURFXUHPHQWLQYHQWRU\DQGVWRUHVPDQDJHPHQWVHUYLFHVLQDGGLWLRQWR WUDQVDFWLRQDOSURFHVVLQJVROXWLRQV • ElectronicsZHVXSSO\DEURDGSURGXFWUDQJHVXFKDVVHPLFRQGXFWRUV6%&DQGSDVVLYHV7KHUHLVDOVRDVLJQL¿FDQWIRFXVLQ RQJRLQJPDUNHWWUHQGVPRVWLPSRUWDQWO\,R7DQGUHQHZDEOHHQHUJ\ZKLFKZLOOVHHXVH[SORUHDQGLQWURGXFHQHZWHFKQRORJLHV 2 Electrocomponents plc Annual Report and Accounts for the year ended 31 March 2020 Our investment proposition :HDUHFRPPLWWHGWREXLOGLQJDOHDQDQG Four key reasons VXVWDLQDEOHEXVLQHVVZKLFKLVZHOOSRVLWLRQHG Strategic report RYHUWKHORQJHUWHUPWRJURZLQH[FHVVRIWKH to invest PDUNHWDQGGULYHEHVWLQFODVVPDUJLQVDQG VWURQJIUHHFDVKÁRZ • *OREDOSOD\HULQODUJHIUDJPHQWHGPDUNHWSODFH Uniquely positioned – 0DUNHWYDOXHGDWF ELOOLRQ in attractive market – 0DUNHWW\SLFDOO\JURZVDW*'3 – 7RSSOD\HUVDFFRXQWIRUFRIWKHJOREDOPDUNHW • Uniquely positioned to take market share – *OREDOVFDOHDQGGLVWULEXWLRQQHWZRUN – Customer-centric people and expertise c. £400bn – Strong supplier relationships market opportunity – Broad range and value-added solutions proposition – /HDGHULQGLJLWDO :HDLPWRJURZDWJUHDWHUWKDQWZRWLPHV Driving market WKHPDUNHWGULYLQJVKDUHJDLQVE\ share gains • *URZLQJFXVWRPHUFRXQW – %HFRPH¿UVWFKRLFHJURZSURPRWHUEDVH – 'ULYHPRUHWUDI¿FWRZHEVLWHV – Increase online conversion by improving experience • 6HOOLQJPRUHWRH[LVWLQJFXVWRPHUV >2x – First choice customers spend 25% more PDUNHWJURZWKUDWHWDUJHW – 6FDOHUDQJHDQGDGGQHZSURGXFWFDWHJRULHV – Roll out value-added solutions proposition – 6HOOWKHIXOORIIHULPSURYHVDOHVHIIHFWLYHQHVV • We have made good progress to date Building a lean and – Stabilising gross margin – ,PSURYLQJDGMXVWHGRSHUDWLQJSUR¿WPDUJLQIURP VXVWDLQDEOHPRGHO LQWRLQ • :HDLPWRGULYHVXVWDLQDELOLW\DQGVFDODELOLW\DQG ORZHURXUFRVWWRVHUYHE\ – Simplifying our technology estate Mid-teen – Building a sustainable and scalable supply chain DGMXVWHGRSHUDWLQJSURÀWPDUJLQWDUJHW – Rolling out global shared services and automation • Long-term aspiration to achieve a mid-teen DGMXVWHGRSHUDWLQJSURÀWPDUJLQ 6WURQJEDODQFHVKHHW • :HKDYHDVWURQJEDODQFHVKHHW • Cash generative DQGDWWUDFWLYHFDVKÁRZ • :HZLOOUHLQYHVWFDVKWRGULYHIDVWHUVKDUHJDLQV 1 • Accelerate strategy via disciplined value-accretive EROWRQDFTXLVLWLRQVWR – Drive market share gains >80% – $GGQHZSURGXFWFDWHJRULHV DGMXVWHGRSHUDWLQJFDVKÁRZ – Accelerate value-added solutions offer conversion target 2XUDLPSRVWLQYHVWPHQWLQVWUDWHJLFLQLWLDWLYHV Annual Report and Accounts for the year ended 31 March 2020 Electrocomponents plc 3 Chair’s introduction Well placed to continue to outperform We entered this crisis in JRRGÀQDQFLDOVKDSH with a strong management team and a clear strategy. We are well placed not only to pass through this downturn but also emerge from it strongly with enhanced market share.” Peter Johnson Chair This year’s Annual Report has been increased investment to advance our value-added solutions and our digital ¿QDOLVHGGXULQJWKHPLGVWRIWKH&29,' Destination 2025 strategy to drive scale capabilities, which enable us to maintain crisis. Those employees who can are DQGHI¿FLHQF\:HDOVRWRRNIXUWKHU a high level of service to our customers. working from home, and those that work steps forward in customer and supplier in our distribution centres (DCs) across satisfaction, enhanced our value-added And fourth, we continue to sustain the the globe continue to work with enhanced solutions proposition, broadened our highest standards of corporate governance, safety measures. Everyone is working product offering and drove further which equip us well to navigate through hard not only to keep our own organisation improvements in our digital capabilities. these challenging times. running but also those critical businesses These important steps have been critical that depend on our services
Recommended publications
  • May CARG 2020.Pdf

    May CARG 2020.Pdf

    ISSUE 30 – MAY 2020 ISSUE 30 – MAY ISSUE 29 – FEBRUARY 2020 Promoting positive mental health in teenagers and those who support them through the provision of mental health education, resilience strategies and early intervention What we offer Calm Harm is an Clear Fear is an app to Head Ed is a library stem4 offers mental stem4’s website is app to help young help children & young of mental health health conferences a comprehensive people manage the people manage the educational videos for students, parents, and clinically urge to self-harm symptoms of anxiety for use in schools education & health informed resource professionals www.stem4.org.uk Registered Charity No 1144506 Any individuals depicted in our images are models and used solely for illustrative purposes. We all know of young people, whether employees, family or friends, who are struggling in some way with mental health issues; at ARL, we are so very pleased to support the vital work of stem4: early intervention really can make a difference to young lives. Please help in any way that you can. ADVISER RANKINGS – CORPORATE ADVISERS RANKINGS GUIDE MAY 2020 | Q2 | ISSUE 30 All rights reserved. No part of this publication may be reproduced or transmitted The Corporate Advisers Rankings Guide is available to UK subscribers at £180 per in any form or by any means (including photocopying or recording) without the annum for four updated editions, including postage and packaging. A PDF version written permission of the copyright holder except in accordance with the provision is also available at £360 + VAT. of copyright Designs and Patents Act 1988 or under the terms of a licence issued by the Copyright Licensing Agency, Barnard’s Inn, 86 Fetter Lane, London, EC4A To appear in the Rankings Guide or for subscription details, please contact us 1EN.
  • UC Santa Barbara Dissertation Template

    UC Santa Barbara Dissertation Template

    UNIVERSITY OF CALIFORNIA Santa Barbara Protestant Missions, Seminaries and the Academic Study of Islam in the United States A dissertation submitted in partial satisfaction of the requirements for the degree Doctor of Philosophy in Religious Studies by Caleb D. McCarthy Committee in charge: Professor Juan E. Campo, Chair Professor Kathleen M. Moore Professor Ann Taves June 2018 The dissertation of Caleb D. McCarthy is approved. _____________________________________________ Kathleen M. Moore _____________________________________________ Ann Taves _____________________________________________ Juan E. Campo, Committee Chair June 2018 Protestant Missions, Seminaries and the Academic Study of Islam in the United States Copyright © 2018 by Caleb D. McCarthy iii ACKNOWLEDGEMENTS While the production of a dissertation is commonly idealized as a solitary act of scholarly virtuosity, the reality might be better expressed with slight emendation to the oft- quoted proverb, “it takes a village to write a dissertation.” This particular dissertation at least exists only in light of the significant support I have received over the years. To my dissertation committee Ann Taves, Kathleen Moore and, especially, advisor Juan Campo, I extend my thanks for their productive advice and critique along the way. They are the most prominent among many faculty members who have encouraged my scholarly development. I am also indebted to the Council on Information and Library Research of the Andrew C. Mellon Foundation, which funded the bulk of my archival research – without their support this project would not have been possible. Likewise, I am grateful to the numerous librarians and archivists who guided me through their collections – in particular, UCSB’s retired Middle East librarian Meryle Gaston, and the Near East School of Theology in Beriut’s former librarian Christine Linder.
  • Parker Review

    Parker Review

    Ethnic Diversity Enriching Business Leadership An update report from The Parker Review Sir John Parker The Parker Review Committee 5 February 2020 Principal Sponsor Members of the Steering Committee Chair: Sir John Parker GBE, FREng Co-Chair: David Tyler Contents Members: Dr Doyin Atewologun Sanjay Bhandari Helen Mahy CBE Foreword by Sir John Parker 2 Sir Kenneth Olisa OBE Foreword by the Secretary of State 6 Trevor Phillips OBE Message from EY 8 Tom Shropshire Vision and Mission Statement 10 Yvonne Thompson CBE Professor Susan Vinnicombe CBE Current Profile of FTSE 350 Boards 14 Matthew Percival FRC/Cranfield Research on Ethnic Diversity Reporting 36 Arun Batra OBE Parker Review Recommendations 58 Bilal Raja Kirstie Wright Company Success Stories 62 Closing Word from Sir Jon Thompson 65 Observers Biographies 66 Sanu de Lima, Itiola Durojaiye, Katie Leinweber Appendix — The Directors’ Resource Toolkit 72 Department for Business, Energy & Industrial Strategy Thanks to our contributors during the year and to this report Oliver Cover Alex Diggins Neil Golborne Orla Pettigrew Sonam Patel Zaheer Ahmad MBE Rachel Sadka Simon Feeke Key advisors and contributors to this report: Simon Manterfield Dr Manjari Prashar Dr Fatima Tresh Latika Shah ® At the heart of our success lies the performance 2. Recognising the changes and growing talent of our many great companies, many of them listed pool of ethnically diverse candidates in our in the FTSE 100 and FTSE 250. There is no doubt home and overseas markets which will influence that one reason we have been able to punch recruitment patterns for years to come above our weight as a medium-sized country is the talent and inventiveness of our business leaders Whilst we have made great strides in bringing and our skilled people.
  • Report & Accounts 2018

    Report & Accounts 2018

    Report & Accounts 2018 Report & Accounts Derwent London plc Report & Accounts 2018 CONTENTS STRATEGIC REPORT GOVERNANCE 2018 summary ......................................................................................... 04 Introduction from the Chairman ........................................................... 84 Chairman’s statement ............................................................................ 07 Governance at a glance .......................................................................... 86 Chief Executive’s statement .................................................................. 08 Board of Directors ................................................................................... 88 CEO succession ........................................................................................11 Senior management ............................................................................... 90 London: Open for business .....................................................................12 Corporate governance statement ........................................................ 92 Central London office market ................................................................14 Nominations Committee report ......................................................... 100 A well-placed portfolio ............................................................................16 Audit Committee report ....................................................................... 104 Our stakeholders ......................................................................................18
  • Quarterly Investor Letter March 2015

    Quarterly Investor Letter March 2015

    Quarterly investor letter March 2015 ‘In the short term the market is like a voting machine tallying up which firms are popular and unpopular. In the long run, the mar- ket is like a weighing machine—assessing the substance of a company.’ Benjamin Graham Dear fellow shareholders, As long term investors, the partners at Castlebay are wary of measuring investment performance over short periods of time, such as a calendar quarter or even a year. Our approach to this quarterly letter is to set out for you our investment philosophy and to update you along the way, in what we hope will be a long and prosperous investment journey with us. As stock-pickers we shall highlight one or two stock examples in each letter. Through our commentary we aim to explain clearly how we ‘assess the substance of the companies’ in which we invest, whilst ignoring the market herd who ‘vote’ with increasing frequency and cost, due to their myopia. The value of investments can fall as well as rise and you might not get back what you have invested. Our guiding principles are set out below and we hope you enjoy the read! Our guiding principles: Transparency & alignment of best interests with our fellow shareholders Adherence to our investment philosophy and process—high quality & supportive valuations Independence of thought in order to avoid the market herd A focus on costs: management fees capped, low turnover of companies in the fund The Portfolio in the first quarter 2015 The launch of the fund at the end of January coincided with a strong recovery in Petrofac which had sold off heavily in the final quarter of 2014 as the price of oil plummeted & investors became irrational sellers of all oil related companies.
  • Edinburgh 1910: Friendship and the Boundaries of Christendom

    Edinburgh 1910: Friendship and the Boundaries of Christendom

    Vol. 30, No. 4 October 2006 Edinburgh 1910: Friendship and the Boundaries of Christendom everal of the articles in this issue relate directly to the take some time before U.S. missionaries began to reach similar Sextraordinary World Missionary Conference convened conclusions about their own nation. But within the fifty years in Edinburgh from June 14 to 23, 1910. At that time, Europe’s following the Second World War, profound uncertainty arose global hegemony was unrivaled, and old Christendom’s self- concerning the moral legitimacy of America’s global economic assurance had reached its peak. That the nations whose pro- Continued next page fessed religion was Christianity should have come to dominate the world seemed not at all surprising, since Western civiliza- tion’s inner élan was thought to be Christianity itself. On Page 171 Defining the Boundaries of Christendom: The Two Worlds of the World Missionary Conference, 1910 Brian Stanley 177 The Centenary of Edinburgh 1910: Its Possibilities Kenneth R. Ross 180 World Christianity as a Women’s Movement Dana L. Robert 182 Noteworthy 189 The Role of Women in the Formation of the World Student Christian Federation Johanna M. Selles 192 Sherwood Eddy Pays a Visit to Adolf von Harnack Before Returning to the United States, December 1918 Mark A. Noll The Great War of 1914–18 soon plunged the “Christian” nations into one of the bloodiest and most meaningless parox- 196 The World is Our Parish: Remembering the ysms of state-sanctioned murder in humankind’s history of 1919 Protestant Missionary Fair pathological addiction to violence and genocide.
  • A Catholic Minority Church in a World of Seekers, Final

    A Catholic Minority Church in a World of Seekers, Final

    Tilburg University A Catholic minority church in a world of seekers Hellemans, Staf; Jonkers, Peter Publication date: 2015 Document Version Early version, also known as pre-print Link to publication in Tilburg University Research Portal Citation for published version (APA): Hellemans, S., & Jonkers, P. (2015). A Catholic minority church in a world of seekers. (Christian Philosophical Studies; Vol. XI). Council for Research in Values and Philosophy. General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. • Users may download and print one copy of any publication from the public portal for the purpose of private study or research. • You may not further distribute the material or use it for any profit-making activity or commercial gain • You may freely distribute the URL identifying the publication in the public portal Take down policy If you believe that this document breaches copyright please contact us providing details, and we will remove access to the work immediately and investigate your claim. Download date: 24. sep. 2021 Cultural Heritage and Contemporary Change Series IV. Western Philosophical Studies, Volume 9 Series VIII. Christian Philosophical Studies, Volume 11 General Editor George F. McLean A Catholic Minority Church in a World of Seekers Western Philosophical Studies, IX Christian Philosophical Studies, XI Edited by Staf Hellemans Peter Jonkers The Council for Research in Values and Philosophy Copyright © 2015 by The Council for Research in Values and Philosophy Box 261 Cardinal Station Washington, D.C.
  • Underthebonnet

    Underthebonnet

    JOHCM UK DYNAMIC FUND UNDER THE BONNET 2019 ANNUAL REVIEW Alex Savvides, Senior Fund Manager Tom Matthews, Analyst INVESTMENT BACKGROUND Global equity markets continued to move higher in December as economic indicators showed a pick-up in global growth, there was further progress in US-China trade discussions and the UK’s Conservative party won an overall majority in the general election. The JP Morgan Global Composite PMI ticked up from the previous month’s 44-month low following a steepening in China’s composite PMI growth rate and a strengthening in US business activity. US equities had a remarkable year, capped by President Trump announcing he would sign a phase one trade deal with China in January and move to negotiations on phase two. The S&P 500, Dow Jones Industrial Average and NASDAQ 100 total return indices all reached new all-time highs in December, with gains of 32%, 25% and 40% respectively for the year. We wrote the following in August’s ‘Under the Bonnet’: “When we come to reflect on 2019, July will likely be seen as a decisive… a month in which geopolitical brinkmanship came to a head, leading government and central bank policies to be reappraised which ultimately may lead to a new market narrative.” The progress in the US-China trade deal marked a clear de-escalation in this brinkmanship globally, but starker still were the final quarter’s developments in the UK: a new withdrawal agreement negotiated with the EU and - in December alone - the Conservative Party winning an historic majority in the general election and the withdrawal agreement subsequently being passed by parliament more than 13 months after Theresa May’s cabinet first backed her deal.
  • Fund Holdings

    Fund Holdings

    Wilmington International Fund as of 7/31/2021 (Portfolio composition is subject to change) ISSUER NAME % OF ASSETS ISHARES MSCI CANADA ETF 3.48% TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 2.61% DREYFUS GOVT CASH MGMT-I 1.83% SAMSUNG ELECTRONICS CO LTD 1.79% SPDR S&P GLOBAL NATURAL RESOURCES ETF 1.67% MSCI INDIA FUTURE SEP21 1.58% TENCENT HOLDINGS LTD 1.39% ASML HOLDING NV 1.29% DSV PANALPINA A/S 0.99% HDFC BANK LTD 0.86% AIA GROUP LTD 0.86% ALIBABA GROUP HOLDING LTD 0.82% TECHTRONIC INDUSTRIES CO LTD 0.79% JAMES HARDIE INDUSTRIES PLC 0.78% DREYFUS GOVT CASH MGMT-I 0.75% INFINEON TECHNOLOGIES AG 0.74% SIKA AG 0.72% NOVO NORDISK A/S 0.71% BHP GROUP LTD 0.69% PARTNERS GROUP HOLDING AG 0.65% NAVER CORP 0.61% HUTCHMED CHINA LTD 0.59% LVMH MOET HENNESSY LOUIS VUITTON SE 0.59% TOYOTA MOTOR CORP 0.59% HEXAGON AB 0.57% SAP SE 0.57% SK MATERIALS CO LTD 0.55% MEDIATEK INC 0.55% ADIDAS AG 0.54% ZALANDO SE 0.54% RIO TINTO LTD 0.52% MERIDA INDUSTRY CO LTD 0.52% HITACHI LTD 0.51% CSL LTD 0.51% SONY GROUP CORP 0.50% ATLAS COPCO AB 0.49% DASSAULT SYSTEMES SE 0.49% OVERSEA-CHINESE BANKING CORP LTD 0.49% KINGSPAN GROUP PLC 0.48% L'OREAL SA 0.48% ASSA ABLOY AB 0.46% JD.COM INC 0.46% RESMED INC 0.44% COLOPLAST A/S 0.44% CRODA INTERNATIONAL PLC 0.41% AUSTRALIA & NEW ZEALAND BANKING GROUP LTD 0.41% STRAUMANN HOLDING AG 0.41% AMBU A/S 0.40% LG CHEM LTD 0.40% LVMH MOET HENNESSY LOUIS VUITTON SE 0.39% SOFTBANK GROUP CORP 0.39% NOVARTIS AG 0.38% HONDA MOTOR CO LTD 0.37% TOMRA SYSTEMS ASA 0.37% IMCD NV 0.37% HONG KONG EXCHANGES & CLEARING LTD 0.36% AGC INC 0.36% ADYEN
  • Electrocomponents Plc Annual Report and Accounts 2009

    Electrocomponents Plc Annual Report and Accounts 2009

    International Management Centre plc Electrocomponents 8050 Oxford Business Park North The leading high service distributor to engineers worldwide Oxford OX4 2HW United Kingdom t: (44) (0) 1865 204000 f: (44) (0) 1865 207400 w: www.electrocomponents.com Annual Report and Accounts 2009 ELECTROCOMPONENTS PLC ANNUAL REPORT AND ACCOUNTS 2009 Cert no. SGS-COC-1732 Published by Black Sun Plc +44 (0)20 7736 0011 Electrocomponents plc Printed at St Ives Westerham Press Ltd Contents MORE INFORMATION IFC Highlights of theYear 38 Group Cash Flow Statement 1 Chairman’s Statement 39 Group Significant Accounting Policies 3 Chief Executive’s Review 43 Notes to the Group Accounts 6 Strategic overview 71 Company Balance Sheet 12 Business Review 72 Company Significant 21 Board of Directors Accounting Policies 22 Directors’ Report 74 Notes to the Company Accounts 24 Corporate Governance Report 81 FiveYear Record 28 Remuneration Report 82 Additional Information for 34 Statement of Directors’ Responsibilities Electrocomponents plc Shareholders GET MORE ONLINE 35 Independent Auditors’ Report 83 Registered Office, Advisers 36 Group Income Statement and Financial Calendar 37 Group Balance Sheet 84 Principal Locations WWW.ELECTROCOMPONENTS.COM HIGHLIGHTS OF THE YEAR ACCESS THE LATEST – 10% GROWTH IN E-COMMERCE SALES Revenue 1 SHAREHOLDER – LEADERSHIP TEAMS IN EUROPE AND INFORMATION ELECTRONICS STRENGTHENED £974.6m • Updates via email • Latest share price – ELECTRONICS OFFER EXPANDED • Corporate governance – SUCCESSFUL LAUNCH OF ELECTRONICS Headline profit before tax
  • Undergraduate Catalog 2020-2021

    Undergraduate Catalog 2020-2021

    Undergraduate Catalog 2020-2021 LOC 2020-2021 1 MISSION AND VISION STATEMENTS Mission Statement LeMoyne-Owen College delivers a transformative experience, educating students for a lifetime of scholarship, leadership, and service through liberal arts, career and professional studies. Vision Statement To be an exemplary historically black college providing an excellent liberal arts education that transforms urban students, institutions and communities. ACCREDITATION LeMoyne-Owen College is accredited by the Southern Association of Colleges and Schools Commission on Colleges to award the baccalaureate degree and the associate degree. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097 or call 404-679-4500 for questions about the accreditation of LeMoyne-Owen College. The Commission on Colleges should be contacted only if there is evidence that appears to support that LeMoyne-Owen College is non-compliant with a Commission requirement or standard. The Division of Education at LeMoyne-Owen College is accredited by the National Council for Accreditation of Teacher Education (NCATE), www.ncate.org. This accreditation covers initial teacher preparation programs at LeMoyne-Owen. However, the accreditation does not include individual education courses that the institution offers to K-12 educators for professional development, re-licensure or other purposes. LeMoyne-Owen College is a member of the American Association of Colleges of Teacher Education and is approved to offer programs leading to licensure by the Tennessee State Department of Education. LOC 2020-2021 2 TABLE OF CONTENTS Introduction . 4 History . 5 Admission . 6 Tuition and Fees . 11 Financial Aid . 16 Scholarships . 28 Student Life . 32 Academic Policies . 36 Academic Honors .
  • FTF Franklin UK Equity Income Fund August 31, 2021

    FTF Franklin UK Equity Income Fund August 31, 2021

    FTF - FTF Franklin UK Equity Income Fund August 31, 2021 FTF - FTF Franklin UK Equity August 31, 2021 Income Fund Portfolio Holdings The following portfolio data for the Franklin Templeton funds is made available to the public under our Portfolio Holdings Release Policy and is "as of" the date indicated. This portfolio data should not be relied upon as a complete listing of a fund's holdings (or of a fund's top holdings) as information on particular holdings may be withheld if it is in the fund's interest to do so. Additionally, foreign currency forwards are not included in the portfolio data. Instead, the net market value of all currency forward contracts is included in cash and other net assets of the fund. Further, portfolio holdings data of over-the-counter derivative investments such as Credit Default Swaps, Interest Rate Swaps or other Swap contracts list only the name of counterparty to the derivative contract, not the details of the derivative. Complete portfolio data can be found in the semi- and annual financial statements of the fund. Security Security Shares/ Market % of Coupon Maturity Identifier Name Positions Held Value TNA Rate Date 0673123 ASSOCIATED BRITISH FOODS PLC 795,000 £15,741,000 1.75% N/A N/A 0989529 ASTRAZENECA PLC 526,000 £44,783,640 4.98% N/A N/A 0263494 BAE SYSTEMS PLC 2,560,000 £14,551,040 1.62% N/A N/A BH0P3Z9 BHP GROUP PLC 927,000 £20,927,025 2.33% N/A N/A B3FLWH9 BODYCOTE PLC 1,340,000 £12,924,300 1.44% N/A N/A 0798059 BP PLC 10,175,000 £30,214,662 3.36% N/A N/A 0176581 BREWIN DOLPHIN HOLDINGS PLC 3,442,000