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Listed companies, even after excluding those in the booming energy and mining industries, have interest cover nearer to ten times, according to UBS's World Inc database.
Debt and interest cover are healthy, and half of its revenues now come from services such as public relations, which are growing faster than traditional advertising.
However with net debt at over £3bn and interest cover at 1.5 times (2009) the balance sheet issues are far from solved.
To justify the current valuation you have to believe in a severe double dip that will challenge Cookson's banking covenants and to put this in context, to breech on interest cover and net debt/ebitda in 2010, earnings before interest and tax would have to fall to £90m and £54m respectively compared to our current £258m.
The banking covenants are not an issue here as Bellway has an interest cover measure running across a rolling 4 half years – typical covenants in this sector run across just 2 half years – which means that covenants are still being tested against trading in boom times.
At present, Loh's research interest cover electrochemical energy conversions, biological treatment of industrial effluents, bioremediation of soil and oily sludges, and bioreactor design for wastewater treatment.
Similar(50)
The federal statute governing judicial conflicts of interest covers only lower-court judges.
The one course that held my interest covered the student revolutionary movements of the nineteenth century.
The appeal of the April 2008 verdict, which has since swelled to a half-billion dollars with interest, covered several issues.
In 2001, the couple took out a £350,000 mortgage on their house in Dean, Oxfordshire, with the interest covered by the taxpayer.
The interest covers all aspects on NGN from the global standards, architecture and services.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com