CGT CAPITAL GEARING TRUST PLC ORD 25P

CAPITAL GEARING Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	05-Apr-12	05-Apr-11	05-Apr-10	05-Apr-09	05-Apr-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	n/a	n/a	n/a	n/a	n/a
Profit After Tax	0.55	0.56	0.67	0.80	0.60
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	0.55	0.56	0.67	0.80	0.60
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	0.55	0.56	0.67	0.80	0.60

Continuing EPS
Earnings per Share - Basic	18.82p	19.81p	23.83p	28.48p	21.32p
Earnings per Share - Diluted	18.82p	19.81p	23.83p	28.48p	21.32p
Earnings per Share - Adjusted	18.82p	19.81p	23.83p	28.48p	21.32p
Continuing and Discontinued EPS
Earnings per Share - Basic	n/a	n/a	n/a	n/a	n/a
Earnings per Share - Diluted	n/a	n/a	n/a	n/a	n/a
Earnings per Share - Adjusted	n/a	n/a	n/a	n/a	n/a

Dividend per Share	15.50p	15.00p	14.00p	13.00p	12.00p

Balance Sheet (£ m)	05-Apr-12	05-Apr-11	05-Apr-10	05-Apr-09	05-Apr-08
Assets
Non-Current Assets
Property, Plant & Equipment	n/a	n/a	n/a	n/a	n/a
Intangible Assets	n/a	n/a	n/a	n/a	n/a
Investment Properties	n/a	n/a	n/a	n/a	n/a
Investments	82.42	72.44	63.46	57.55	54.85
Other Financial Assets	n/a	n/a	n/a	n/a	n/a
Other Non-Current Assets	0.00	0.00	0.00	0.00	0.00
	82.42	72.44	63.46	57.55	54.85
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	2.43	2.57	5.32	1.53	4.56
Cash at Bank & in Hand	0.03	0.76	0.40	0.63	0.24
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
	2.45	3.33	5.72	2.16	4.80

Total Assets	84.87	75.77	69.19	59.71	59.65

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
	0.234	0.220	0.224	0.305	0.216

Net Current Assets	2.22	3.11	5.50	1.85	4.58

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	n/a	n/a	n/a	n/a	n/a
	0.00	0.00	0.00	0.00	0.00

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	0.23	0.22	0.22	0.31	0.22

Net Assets	84.64	75.55	68.96	59.40	59.43

Capital & Reserves
Share Capital	84.64	75.55	68.96	59.40	59.43
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	84.64	75.55	68.96	59.40	59.43

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	84.64	75.55	68.96	59.40	59.43

Ratios - based on IFRS	05-Apr-12	05-Apr-11	05-Apr-10	05-Apr-09	05-Apr-08
Continuing Operations
PE Ratio - Adjusted	160.20	157.24	110.37	83.22	100.14
PEG - Adjusted	-32.04	-9.32	-6.76	2.48	7.09
Earnings per Share Growth - Adjusted	-5.00%	-16.87%	-16.33%	33.58%	14.13%
Dividend Cover	1.21	1.32	1.70	2.19	1.78
Revenue Per Share	n/a	n/a	n/a	n/a	n/a
Pre-Tax Profit per Share	n/a	n/a	n/a	n/a	n/a
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	0.51%	0.48%	0.53%	0.55%	0.56%
Dividend per Share Growth	3.33%	7.14%	7.69%	8.33%	4.35%
Net Asset Value per Share (exc. Intangibles)	2898.53p	2652.74p	2467.33p	2125.37p	2126.37p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

CAPITAL GEARING - Fundamentals