LRE LANCASHIRE HOLDINGS LIMITED COM SHS USD0.50

LANCASHIRE 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	n/a	n/a	n/a	n/a	n/a
Operating Profit/(Loss)	n/a	n/a	n/a	n/a	n/a
Net Interest	n/a	n/a	n/a	n/a	n/a
Profit Before Tax	145.68	140.66	216.64	240.28	66.93
Profit After Tax	144.51	136.54	211.28	238.36	66.86
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	144.51	136.54	211.28	238.36	66.86
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	144.51	136.54	211.28	238.36	66.86

Continuing EPS
Earnings per Share - Basic	90.43p	88.80p	132.85p	137.92p	37.72p
Earnings per Share - Diluted	79.36p	77.22p	118.80p	126.79p	36.35p
Earnings per Share - Adjusted	90.43p	88.80p	132.85p	137.92p	37.72p
Continuing and Discontinued EPS
Earnings per Share - Basic	90.43p	88.80p	132.85p	137.92p	37.72p
Earnings per Share - Diluted	79.36p	77.22p	118.80p	126.79p	36.35p
Earnings per Share - Adjusted	90.43p	88.80p	132.85p	137.92p	37.72p

Dividend per Share	9.16p	9.48p	9.81p	3.08p	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	1.72	3.41	4.73	5.07	0.96
Intangible Assets	41.83	40.28	39.09	32.72	41.76
Investment Properties	n/a	n/a	n/a	n/a	n/a
Investments	1203.75	1135.26	1097.85	1170.45	1100.81
Other Financial Assets	n/a	n/a	n/a	n/a	n/a
Other Non-Current Assets	n/a	n/a	n/a	n/a	n/a
	1247.31	1178.95	1141.66	1208.24	1143.53
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	194.22	233.96	209.11	150.60	279.73
Cash at Bank & in Hand	181.98	200.63	327.33	272.13	283.64
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	n/a	n/a	n/a	n/a	n/a
	376.19	434.59	536.44	422.72	563.37

Total Assets	1623.50	1613.54	1678.10	1630.96	1706.90

Liabilities
Current Liabilities
Borrowings	n/a	n/a	n/a	n/a	n/a
Other Current Liabilities	n/a	n/a	n/a	n/a	n/a
	50.200	75.092	212.684	188.323	136.812

Net Current Assets	325.99	359.50	323.75	234.40	426.55

Non-Current Liabilities
Borrowings	n/a	n/a	n/a	n/a	n/a
Provisions	n/a	n/a	n/a	n/a	n/a
Other Non-Current Liabilities	560.63	602.34	561.22	508.57	607.60
	719.78	684.71	643.48	589.83	697.30

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	769.98	759.80	856.17	778.16	834.11

Net Assets	853.52	853.74	821.93	852.81	872.79

Capital & Reserves
Share Capital	853.52	853.74	821.93	852.81	872.79
Share Premium Account	n/a	n/a	n/a	n/a	n/a
Other Reserves	n/a	n/a	n/a	n/a	n/a
Retained Earnings	n/a	n/a	n/a	n/a	n/a
Shareholders Funds	853.52	853.74	821.93	852.81	872.79

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	853.52	853.74	821.93	852.81	872.79

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	8.58	8.16	4.16	3.23	11.27
PEG - Adjusted	4.66	-0.25	-1.13	0.01	-0.18
Earnings per Share Growth - Adjusted	1.84%	-33.16%	-3.68%	265.66%	-62.33%
Dividend Cover	9.87	9.37	13.54	44.75	n/a
Revenue Per Share	n/a	n/a	n/a	n/a	n/a
Pre-Tax Profit per Share	91.29p	91.14p	136.42p	139.10p	37.71p
Operating Margin	n/a	n/a	n/a	n/a	n/a
Return on Capital Employed	n/a	n/a	n/a	n/a	n/a

Continuing & Discontinued Operations
Dividend Yield	1.18%	1.31%	1.77%	0.69%	0.00%
Dividend per Share Growth	-3.41%	-3.35%	218.30%	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	498.60p	514.56p	511.15p	480.53p	480.78p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

LANCASHIRE - Fundamentals