CKN CLARKSON PLC ORD 25P

CLARKSON 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	176.20	194.60	202.60	176.70	250.30
Operating Profit/(Loss)	22.10	33.40	34.50	22.60	17.00
Net Interest	0.10	0.20	3.30	1.80	3.40
Profit Before Tax	23.30	35.40	32.40	22.50	18.20
Profit After Tax	16.20	25.10	23.50	16.90	7.80
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	16.20	25.10	23.50	16.90	7.80
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	16.20	25.10	23.50	16.90	7.80

Continuing EPS
Earnings per Share - Basic	87.20p	134.10p	125.40p	90.00p	41.90p
Earnings per Share - Diluted	86.00p	132.80p	124.70p	88.90p	41.30p
Earnings per Share - Adjusted	76.80p	121.50p	125.40p	90.00p	122.90p
Continuing and Discontinued EPS
Earnings per Share - Basic	87.20p	134.10p	125.40p	90.00p	41.90p
Earnings per Share - Diluted	86.00p	132.80p	124.70p	88.90p	41.30p
Earnings per Share - Adjusted	76.80p	121.50p	125.40p	90.00p	122.90p

Dividend per Share	50.00p	48.00p	44.00p	42.00p	42.00p

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	7.60	8.00	8.30	9.60	11.00
Intangible Assets	39.80	40.30	32.70	32.50	32.30
Investment Properties	0.40	0.40	0.40	0.40	0.40
Investments	1.90	1.90	1.80	15.10	16.50
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	15.10	12.50	12.50	16.80	26.60
	65.20	63.50	56.10	74.80	87.20
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	33.50	38.10	28.90	30.60	55.20
Cash at Bank & in Hand	89.40	132.90	176.30	143.20	184.40
Current Asset Investments	25.20	0.00	11.40	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	148.10	171.00	216.60	173.80	239.60

Total Assets	213.30	234.50	272.70	248.60	326.80

Liabilities
Current Liabilities
Borrowings	0.00	0.00	-44.00	0.00	-3.30
Other Current Liabilities	-72.20	-99.90	-105.90	-90.50	-155.70
	-72.20	-99.90	-149.90	-90.50	-159.00

Net Current Assets	75.90	71.10	66.70	83.30	80.60

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	-48.30	-50.70
Provisions	-4.00	-3.50	-4.50	-5.10	-8.80
Other Non-Current Liabilities	-11.10	-7.80	-1.90	-7.90	-5.90
	-15.10	-11.30	-6.40	-61.30	-65.40

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-87.30	-111.20	-156.30	-151.80	-224.40

Net Assets	126.00	123.30	116.40	96.80	102.40

Capital & Reserves
Share Capital	4.70	4.70	4.70	4.70	4.70
Share Premium Account	0.00	0.00	27.80	27.80	27.10
Other Reserves	37.50	37.50	12.20	12.80	16.60
Retained Earnings	83.80	81.10	71.70	51.50	54.00
Shareholders Funds	126.00	123.30	116.40	96.80	102.40

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	126.00	123.30	116.40	96.80	102.40

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	15.63	9.45	9.02	8.22	2.81
PEG - Adjusted	-0.42	-3.04	0.23	-0.31	1.12
Earnings per Share Growth - Adjusted	-36.79%	-3.11%	39.33%	-26.77%	2.50%
Dividend Cover	1.54	2.53	2.85	2.14	2.93
Revenue Per Share	945.28p	1043.32p	1083.54p	943.51p	1348.89p
Pre-Tax Profit per Share	125.00p	189.79p	173.28p	120.14p	98.08p
Operating Margin	13.00%	18.04%	17.42%	13.41%	7.15%
Return on Capital Employed	23.49%	38.24%	26.84%	19.50%	16.11%

Continuing & Discontinued Operations
Dividend Yield	4.17%	4.18%	3.89%	5.68%	12.17%
Dividend per Share Growth	4.17%	9.09%	4.76%	0.00%	10.53%
Net Asset Value per Share (exc. Intangibles)	454.04p	437.19p	440.87p	338.69p	371.37p
Net Gearing	-70.95%	-107.79%	-113.66%	-98.04%	-127.34%

Data is provided by Morningstar

CLARKSON - Fundamentals