CB8021: Foundations of Corporate Finance Coursework Assessment: Individual Report-Kents Brewery case

CB8021 Foundations of Corporate Finance Coursework Assessment Task CB8021 Assess17/18AMR CB8021: Foundations of Corporate Finance Coursework Assessment: Individual Report Kents Brewery case: continued Further information The Kents Brewery team have provided some financial data that they consider useful for the investment appraisal element of your task. Using other proxy companies’ beta coefficients it has been advised that 1.3 is an appropriate beta for Kents Brewery. For YE (31/12) 31/12/16 (A) 31/12/17 (A) 31/12/18 (F) 31/12/19 (F) 31/12/20 (F) 31/12/21 (F) 31/12/22 (F) Turnover (£k) 1,625 1,845 3,543 9,022 12,481 16,408 18,808 PBT (£k) (320) (274) (78) 728 1,384 2,214 2,462 EBITDA (£k) (248) (145) 245 846 1,411 2,511 2,918 Key: A = Actual { Note 2017 figure is agreed but not yet published} F = Forecast Investment Appraisal Request – further detail The Kents Brewery Team would like you to provide a company valuation as at 31/12/2017 using a DCF approach. Please include any key assumptions as well as any reservations regarding the results of your appraisal. In particular, highlight any additional information that would have been useful for your consideration.