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ROCE
For post-FRS3 results, return on capital employed
is based on normalised pre-tax profit, adjusted to exclude the
cost of borrowing. Similarly, return on equity, post-FRS3, is
based on normalised earnings, i.e. normalised profit after tax,
minority interests and preference dividends.
In effect, the normalisation adjustments exclude
items which would have been labelled extraordinary before the
introduction of FRS3. Therefore in Company REFS the normalised
return calculated for post-FRS3 results is considered comparable
with the unmodified return from pre-FRS3 results.
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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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