ACE GOLF AS: årsregnskap 2008 vs 2007
Shrank 6% on revenue, returned to profit
approved 2009-06-09; registry 2009-07-29
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ACE GOLF AS. Revenue 5.60m NOK → 5.25m NOK (-6.1%). Net result -3 938 NOK → +641.7k NOK. Equity -367.7k NOK → 274.0k NOK.
On the constructive side: turned profitable; equity strengthened; cash rose. Pressures included: revenue fell; payroll up without matching revenue.
Net constructive year on the published lines.
At a glance
Scorecard
What improved
-
↑
Turned profitable
Net result flipped from a loss of 3 938 NOK to a profit of 641.7k NOK. Calculated
-
↑
Equity strengthened
Book equity -367.7k NOK → 274.0k NOK (equity ratio -56.8% → 29.6%). Calculated
-
↑
Cash rose
Bank deposits 84.8k NOK → 398.9k NOK (+370.3% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.58× → 1.35×. Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 5.60m NOK to 5.25m NOK (-6.1% YoY). Calculated
-
↓
Payroll up without matching revenue
Salary cost 1.22m NOK → 5.92m NOK (22% → 113% of revenue). Calculated