MNL MANCHESTER & LONDON INVESTMENT TRUST PLC ORD 25P

MANCHESTER&LON. Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-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	3.22	2.50	1.95	1.53	1.45
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	3.22	2.50	1.95	1.53	1.45
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	3.22	2.50	1.95	1.53	1.45

Continuing EPS
Earnings per Share - Basic	14.34p	11.13p	10.63p	10.51p	10.36p
Earnings per Share - Diluted	14.34p	11.13p	10.63p	10.51p	10.36p
Earnings per Share - Adjusted	14.34p	11.13p	10.63p	10.51p	10.36p
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	12.50p	11.70p	11.00p	12.00p	10.00p

Balance Sheet (£ m)	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-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	103.41	124.27	84.34	51.92	31.25
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
	103.41	124.27	84.34	51.92	31.25
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	0.08	0.20	0.34	0.41	0.81
Cash at Bank & in Hand	11.43	7.69	2.03	4.75	15.84
Current Asset Investments	34.64	0.00	4.39	4.57	0.00
Other Current Assets	n/a	n/a	n/a	n/a	n/a
	46.15	7.90	6.76	9.73	16.65

Total Assets	149.56	132.17	91.11	61.65	47.89

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
	74.044	33.901	5.903	4.158	0.225

Net Current Assets	-27.89	-26.01	0.86	5.57	16.42

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	74.04	33.90	5.90	4.16	0.23

Net Assets	75.52	98.27	85.20	57.50	47.67

Capital & Reserves
Share Capital	75.52	98.27	85.20	57.50	47.67
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	75.52	98.27	85.20	57.50	47.67

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	75.52	98.27	85.20	57.50	47.67

Ratios - based on IFRS	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-08
Continuing Operations
PE Ratio - Adjusted	20.50	35.62	30.20	28.54	31.61
PEG - Adjusted	0.71	7.58	26.49	19.68	0.75
Earnings per Share Growth - Adjusted	28.84%	4.70%	1.14%	1.45%	42.31%
Dividend Cover	1.15	0.95	0.97	0.88	1.04
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	4.25%	2.95%	3.43%	4.00%	3.05%
Dividend per Share Growth	6.84%	6.36%	-8.33%	20.00%	5.26%
Net Asset Value per Share (exc. Intangibles)	336.26p	437.58p	379.41p	328.45p	341.81p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

MANCHESTER&LON. - Fundamentals