CRM CARR'S MILLING INDUSTRIES PLC ORD 25P

CARRS MILL. Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	01-Sep-12	03-Sep-11	28-Aug-10	29-Aug-09	30-Aug-08
Continuing Operations
Revenue	404.06	373.32	298.11	350.02	372.31
Operating Profit/(Loss)	12.07	9.16	7.45	7.30	12.88
Net Interest	1.35	1.33	1.27	1.49	2.03
Profit Before Tax	13.06	10.01	7.42	7.04	12.86
Profit After Tax	10.11	8.04	5.76	5.21	8.25
Discontinued Operations
Profit After Tax	-0.20	16.60	1.08	0.00	0.00
PROFIT FOR THE PERIOD	9.90	24.64	6.84	5.21	8.25
Attributable to:
Minority Interests	-1.39	-1.25	-1.20	-0.79	-0.55
Equity Holders of Parent Company	8.51	23.38	5.64	4.42	7.70

Continuing EPS
Earnings per Share - Basic	98.20p	77.00p	51.90p	50.40p	92.70p
Earnings per Share - Diluted	97.50p	76.30p	51.90p	50.30p	91.20p
Earnings per Share - Adjusted	101.50p	88.40p	53.50p	51.00p	108.60p
Continuing and Discontinued EPS
Earnings per Share - Basic	95.90p	265.40p	64.10p	50.40p	92.70p
Earnings per Share - Diluted	95.20p	262.90p	64.10p	50.30p	91.20p
Earnings per Share - Adjusted	99.20p	276.80p	65.77p	51.00p	108.60p

Dividend per Share	26.75p	24.50p	23.00p	23.00p	19.50p

Balance Sheet (£ m)	01-Sep-12	03-Sep-11	28-Aug-10	29-Aug-09	30-Aug-08
Assets
Non-Current Assets
Property, Plant & Equipment	33.10	29.31	30.94	30.52	27.63
Intangible Assets	5.93	5.59	5.70	2.42	1.68
Investment Properties	1.01	0.76	0.70	0.72	0.74
Investments	8.08	6.83	5.02	4.63	4.53
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	5.54	3.97	4.87	5.60	5.59
	54.65	47.22	47.93	44.59	40.91
Current Assets
Inventories	27.13	22.79	27.02	23.86	31.01
Trade & Other Receivables	59.65	57.00	49.11	43.18	50.82
Cash at Bank & in Hand	23.29	33.28	13.70	10.30	3.90
Current Asset Investments	0.00	0.00	0.00	0.02	0.93
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	110.07	113.07	89.82	77.36	86.66

Total Assets	164.73	160.30	137.76	121.95	127.56

Liabilities
Current Liabilities
Borrowings	-14.18	-26.44	-11.48	-10.23	-15.00
Other Current Liabilities	-57.97	-55.16	-50.72	-36.68	-55.05
	-72.15	-81.59	-62.20	-46.91	-70.06

Net Current Assets	37.93	31.48	27.62	30.45	16.60

Non-Current Liabilities
Borrowings	-11.57	-2.27	-17.73	-19.40	-6.33
Provisions	-3.73	-4.01	-4.96	-4.84	-4.78
Other Non-Current Liabilities	-9.42	-9.58	-13.54	-17.51	-18.81
	-24.72	-15.86	-36.23	-41.75	-29.91

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-96.87	-97.45	-98.44	-88.66	-99.97

Net Assets	67.86	62.84	39.32	33.30	27.60

Capital & Reserves
Share Capital	2.22	2.22	2.20	2.20	2.09
Share Premium Account	8.12	8.06	7.74	7.74	5.25
Other Reserves	1.17	1.36	1.85	1.96	1.75
Retained Earnings	49.08	45.34	22.93	18.00	15.88
Shareholders Funds	60.59	56.98	34.71	29.89	24.98

Minority Interests/Other Equity	7.27	5.87	4.61	3.41	2.62
Total Equity	67.86	62.84	39.32	33.30	27.60

Ratios - based on IFRS	01-Sep-12	03-Sep-11	28-Aug-10	29-Aug-09	30-Aug-08
Continuing Operations
PE Ratio - Adjusted	9.21	8.43	10.65	8.73	6.10
PEG - Adjusted	0.62	0.13	2.17	-0.16	0.06
Earnings per Share Growth - Adjusted	14.82%	65.23%	4.90%	-53.04%	93.93%
Dividend Cover	3.79	3.61	2.33	2.22	5.57
Revenue Per Share	4555.85p	4238.40p	3393.78p	3989.78p	4482.93p
Pre-Tax Profit per Share	147.24p	113.65p	84.52p	80.19p	154.82p
Operating Margin	3.04%	2.44%	2.50%	2.06%	3.44%
Return on Capital Employed	14.89%	11.82%	11.07%	10.66%	21.70%

Continuing & Discontinued Operations
Dividend Yield	2.86%	3.29%	4.04%	5.17%	2.94%
Dividend per Share Growth	9.18%	6.52%	0.00%	17.95%	8.33%
Net Asset Value per Share (exc. Intangibles)	615.81p	579.80p	330.24p	312.75p	278.27p
Net Gearing	4.05%	-8.02%	44.70%	64.65%	69.80%

Data is provided by Morningstar

CARRS MILL. - Fundamentals