The Downhill Run

Abstract

Charlton-Chester Plc is a public company sited on the outskirts of Downhill. It has enjoyed a long history of manufacturing and selling high-quality bicycles with a reputation for easy riding and durability. They have been particularly successful in overseas markets, notably in South East Asia. Unfortunately for the company there has been increasing competition in this market in recent years and their share of the market has fallen dramatically. There has been a compensatory boom in the domestic market but the annual accounts have shown losses for the past two years and no ordinary dividend has been paid for the past three years.