Calculate and comment on the Return On Capital Employed (for each year shown) Provide a comparative analysis of the businesses and their financial performance with regard to EITHER:
-Pricing and cost management
OR
-Financial structure .

Your submission should use relevant key financial ratios to analyse the following financial statements in the Annual Reports of each business:
-Consolidated/Group Balance Sheet (or Statement of Financial Position)
-Consolidated/Group Income Statement (or The Profit and Loss Account)

The behaviour of the selected ratios should be explained using appropriate references to:

i. Relevant Notes to the Accounts where appropriate

ii. Board Members reports* e.g.:
• Chairman’s statement
• Chief Executive Officers Review
• Financial Directors Report / Financial review
• Business review or equivalent