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Who
Already Uses REFS?


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Gross
gearing
Gross gearing
is calculated by dividing total gross borrowings by shareholders’
funds, and expressing the result as a percentage.
Cash and
other near-cash assets are not deducted from gross borrowings,
but their significance can be separately assessed by reference
to the cash percentage shown immediately above.
Calculation:
TOTAL BORROWINGS
------------------------
X 100 = GROSS GEARING (%)
SHAREHOLDERS’
FUNDS
Separate
figures are calculated to show gross gearing both before and
after deducting intangibles from shareholders’ funds.
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REFS
is available in 3 formats to suit your needs
Updated daily with data direct from the London
Stock Exchange 
Available
monthly or quarterly on CD

Available
monthly or quarterly in two hard-copy volumes
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