The previous year describes the twelve months of the last financial year. It is a useful way of clarifying comparisons, trends and performance in business development.
What’s it all about?
- Significance of previous year in the context of annual reports
Previous year is the term for the last financial year comprising a period of twelve months. The previous year that came before the current reporting period is often a reference period for information in annual reports. Usually, the previous year is used to enable the transparent presentation of comparisons, trends and performance in business development.
Key figures that are used to compare financial years include EBIT, EBITDA and Return on capital employed (RoCE).
METRO refers to the previous year in its current annual report.