CTI CATHAY INTERNATIONAL HOLDINGS LD COM SHS $0.05

CATHAY INTL LD Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	67.24	58.80	52.14	45.89	44.61
Operating Profit/(Loss)	2.26	6.57	6.26	3.89	3.33
Net Interest	2.65	1.71	1.61	2.71	4.75
Profit Before Tax	1.40	6.56	4.80	1.17	-1.42
Profit After Tax	0.05	4.83	3.15	0.18	-2.04
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	0.05	4.83	3.15	0.18	-2.04
Attributable to:
Minority Interests	-4.21	-3.91	-2.58	-0.37	-0.27
Equity Holders of Parent Company	-4.16	0.92	0.57	-0.19	-2.31

Continuing EPS
Earnings per Share - Basic	-1.10p	0.25p	0.15p	-0.07p	-0.84p
Earnings per Share - Diluted	-1.10p	0.25p	0.15p	-0.07p	-0.84p
Earnings per Share - Adjusted	-1.10p	0.25p	0.15p	-0.07p	-0.84p
Continuing and Discontinued EPS
Earnings per Share - Basic	-1.10p	0.25p	0.15p	-0.07p	-0.84p
Earnings per Share - Diluted	-1.10p	0.25p	0.15p	-0.07p	-0.84p
Earnings per Share - Adjusted	-1.10p	0.25p	0.15p	-0.07p	-0.84p

Dividend per Share	0.00p	0.00p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Assets
Non-Current Assets
Property, Plant & Equipment	107.83	110.02	101.69	92.32	105.69
Intangible Assets	21.34	20.99	19.95	20.36	10.73
Investment Properties	0.00	0.00	0.00	0.97	1.07
Investments	19.71	19.15	16.74	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	22.88	16.12	7.60	4.52	0.58
	171.76	166.28	145.98	119.13	119.14
Current Assets
Inventories	10.72	11.65	9.09	7.05	6.17
Trade & Other Receivables	37.87	42.65	37.51	24.62	24.46
Cash at Bank & in Hand	20.50	24.26	16.52	20.16	11.41
Current Asset Investments	0.00	0.00	0.25	0.24	0.26
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	69.09	78.55	63.36	52.07	42.31

Total Assets	240.85	244.83	209.33	171.21	161.45

Liabilities
Current Liabilities
Borrowings	-47.19	-73.68	-29.00	-28.70	-21.72
Other Current Liabilities	-23.84	-20.26	-11.84	-22.57	-28.88
	-71.03	-93.94	-40.84	-51.27	-50.60

Net Current Assets	-1.94	-15.39	22.52	0.80	-8.29

Non-Current Liabilities
Borrowings	-32.14	-5.89	-34.38	-36.61	-47.34
Provisions	-16.48	-16.19	-13.15	-12.34	-13.99
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-48.62	-22.08	-47.52	-48.95	-61.33

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-119.65	-116.02	-88.37	-100.22	-111.93

Net Assets	121.20	128.81	120.97	70.98	49.52

Capital & Reserves
Share Capital	11.73	12.27	12.18	11.67	9.46
Share Premium Account	31.40	32.84	32.60	30.42	7.01
Other Reserves	58.01	59.36	52.67	49.73	58.56
Retained Earnings	-16.77	-12.31	-10.90	-29.85	-32.80
Shareholders Funds	84.36	92.16	86.54	61.97	42.23

Minority Interests/Other Equity	36.84	36.65	34.43	9.01	7.29
Total Equity	121.20	128.81	120.97	70.98	49.52

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	-25.91	116.00	220.00	-446.43	-8.33
PEG - Adjusted	0.05	1.93	-0.68	4.86	0.20
Earnings per Share Growth - Adjusted	-549.39%	60.13%	-325.00%	-91.88%	-42.24%
Dividend Cover	n/a	n/a	n/a	n/a	n/a
Revenue Per Share	17.79p	15.55p	14.19p	16.81p	16.90p
Pre-Tax Profit per Share	0.37p	1.74p	1.31p	0.43p	-0.54p
Operating Margin	4.66%	11.79%	12.20%	8.97%	7.15%
Return on Capital Employed	2.07%	4.07%	3.61%	3.03%	2.73%

Continuing & Discontinued Operations
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Dividend per Share Growth	n/a	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	16.98p	19.37p	17.97p	11.34p	11.93p
Net Gearing	69.74%	60.03%	54.15%	72.85%	136.50%

Data is provided by Morningstar

CATHAY INTL LD - Fundamentals