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Who
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Assessing
underlying performance
For comparative purposes, analysts need to
make a backward-looking assessment of the trend of underlying
historical performance. Here it is desirable to exclude from
earnings any items of an abnormal or unusual nature which would
distort an underlying trend.
By contrast with maintainable earnings, underlying
earnings can be more readily assessed on a consistent and objective
basis. Two bases are used to present underlying earnings within
Company REFS, namely IIMR
Headline earnings and normalised
earnings Since the introduction of full-page company entries,
however, IIMR earnings appear only in the printed version of
Company REFS, namely in the old-style half-page entries
for AIM companies. See Impact
of FRS3 on results of earlier periods for further explanation.
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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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