Case Solution of Horniman Horticulture, in Case Studies in Finance - Managing for Corporate Value Creation by Bruner, Robert - 5th Edition Free Essay, Term Paper and Book Report
Horniman Horticulture
Background
Horniman Horticulture (HH) is a privately-owned wholesale nursery business in Lynchburg, Virginia. Bob Brown and his wife, Maggie Horniman, bought HH from Maggie¡"s father in 2002 for $999,000. The nursery¡"s operations fill 52 greenhouses and 40 acres of land. HH employed 12 full time workers and 15 seasonal workers in 2005. HH was expecting to close a property purchase for a 12-acre parcel of land in early 2006. This piece of land cost $75,000 and was expected to facilitate HH¡"s long term growth.
Bob Brown is the head of operations at HH. Revenue growth has jumped over the past two years by 12.5% and 15.5% respectively. This growth far exceeds the industry which, on average, is experiencing revenue retraction. With a slight improvement in credit terms for its ¡°small nursery¡± customers, HH experienced a notable increase in business. Furthermore, Bob sees future demand pushing revenue growth to 30% in 2006.
Maggie Horniman is the head of finance at HH. HH has not used any outside financing to date. Maggie stated......
Word Count: 4137
Page Count: 16.5 (250 words a page / double spaced)
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