(a) Using the information contained in Table 1,

in your own words

, evaluate the performance of British Airways over the period 2015-2019. Critical analyse all the categories of ratios. Your explanation can be handwritten OR typed (approximately

2. Table 1: BA PLC: Basic ratios for the period 2015-2019 2019 2018 2017 2016 2015 Profitability Return on capital 13.43% 10.28% 9.62% 8.23% 5.57% employed Return on shareholders 27.31% 25.34% 29.89% 15.46% 9.47% Profit Margin 10.09% 7.20% 7.28% 5.31% 3.04% EBIT Margin 10.00% 7.09% 8.28% 6.91% 5.36% Solvency/Liquidity Current ratio 0.97 0.95 1.07 0.95 0.92 Liquidity ratio 0.94 0.93 1.04 0.93 0.90 Solvency ratio 29.07 21.18 17.04 23.68 20.01 Gearing 156.79 239.11 344.60 232.15 305.68 Asset Utilisation Interest Cover 5.00 3.22 3.19 1.98 1.45 Stock Turnover (days) 78.15 111.7days 102.5days 93.01days 99.47days days Collection Period (days) 24 days 28 days 29 days 32 days 32 days Credit Period (days) 27 days 31 days 32 days 41 days 40 days Investment Earnings per share E1.74 E1.58 $1.45 E1.32 $1.27 Price earnings ratio 21 20.3 22 18 19.7 (times) Dividend per share 45p 41p 38p 33p 32p