OXFORD BROOKES UNIVERSITY

RESEARCH AND ANALYSIS PROJECT

The Business and Financial Analysis of Maldives Industrial Fisheries Company Limited

From 1st January 2006 to 31st December 2008

Prepared by:

Word count: 6486 words

TABLE OF CONTENTS

EXECUTIVE SUMMARY 5

PART 1

PROJECT OBJECTIVES AND 6

OVERALL RESEARCH APPROACH 6

1.1Intoduction 6

1.2 Selecting the Topic 6

1.3 Reason for Choosing “Mifco” 6

1.4 Principal Activities (Mifco) 7

1.5 Project Aims and Objectives 7

1.6 Research Questions 8

1.7 Overall Research Approach 8

1.8 Conclusion 9

PART 2

INFORMATION GATHERING AND 10

ACCOUNTING/BUSINESS TECHNIQUES 10

2.1 Introduction 10

2.2 Sample Design and Data
The sites have HACCP (Hazard Analysis Critical Control Points) approval, EFSIS (European Food Safety Inspection Service) & CLAS (Campden Laboratory Accreditation Scheme) accreditation. Mifco looks forward to heightening these profiles in all centers.

Most importantly, I have been a staff of Mifco since 1997 and for the last thirteen years I have been working in the accounts department at different levels. During my tenure, I have gained experience of the industry and its viability. This is one of the motivating factors in choosing this company.

1.4 Principal Activities (Mifco)

The main activities of the company are manufacturing and export of canned tuna, export of frozen fish and fresh fish, frozen yellow fin (G.G) and cooked frozen loins, Katsaubushi (dry fish produced for Japanese market), Maldive fish, fish meal and Fasmeeru range of product (local brand) for the local market.

1.5 Project Aims and Objectives

The primary aims and objectives of the project is a review of the financial and business performances of Mifco to assess the impact of opening the industry to private sector. This will be analyzed by computing relevant financial ratios and comparing company financial performances over three years. To analyze the financial performance of the company in terms of;

✓ Profitability ✓ Capital