ASY ANDREWS SYKES GROUP PLC ORD 1P

ANDREWS SYKES Currency GBX

Income Statement (£ m)	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	29-Dec-07
Continuing Operations
Revenue	53.84	55.95	54.36	67.39	57.85
Operating Profit/(Loss)	15.00	14.11	13.21	18.48	13.69
Net Interest	0.38	0.50	1.31	2.23	1.68
Profit Before Tax	14.90	14.37	13.29	15.38	12.38
Profit After Tax	11.57	10.56	11.64	11.06	8.55
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	11.57	10.56	11.64	11.06	8.55
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	11.57	10.56	11.64	11.06	8.55

Continuing EPS
Earnings per Share - Basic	27.05p	24.19p	26.30p	24.85p	19.19p
Earnings per Share - Diluted	27.05p	24.18p	26.30p	24.85p	19.19p
Earnings per Share - Adjusted	27.05p	24.19p	26.30p	24.85p	20.62p
Continuing and Discontinued EPS
Earnings per Share - Basic	27.05p	24.19p	26.30p	24.85p	19.19p
Earnings per Share - Diluted	27.05p	24.18p	26.30p	24.85p	19.19p
Earnings per Share - Adjusted	27.05p	24.19p	26.30p	24.85p	20.62p

Dividend per Share	6.60p	11.10p	0.00p	33.60p	0.00p

Balance Sheet (£ m)	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	29-Dec-07
Assets
Non-Current Assets
Property, Plant & Equipment	14.54	11.88	13.76	16.20	15.76
Intangible Assets	0.00	0.00	0.00	0.00	0.00
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.16	0.16	0.16	0.16	0.16
Other Financial Assets	0.00	0.00	0.00	0.00	0.01
Other Non-Current Assets	2.39	2.71	4.04	0.00	1.40
	17.10	14.75	17.96	16.36	17.35
Current Assets
Inventories	3.56	4.03	4.87	7.99	5.74
Trade & Other Receivables	14.79	15.92	19.30	17.76	16.32
Cash at Bank & in Hand	24.99	25.71	18.15	18.23	13.10
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	0.00	0.24	0.41	0.49
	43.34	45.66	42.55	44.40	35.66

Total Assets	60.44	60.41	60.51	60.76	53.00

Liabilities
Current Liabilities
Borrowings	-6.20	-6.20	-6.20	-5.22	-5.42
Other Current Liabilities	-11.40	-12.44	-9.11	-13.20	-12.76
	-17.60	-18.64	-15.32	-18.42	-18.17

Net Current Assets	25.74	27.02	27.23	25.97	17.48

Non-Current Liabilities
Borrowings	-8.40	-14.55	-23.70	-29.84	-20.01
Provisions	-0.03	-0.05	-0.06	-0.09	0.00
Other Non-Current Liabilities	-0.02	-0.04	-0.03	-0.11	-1.28
	-8.45	-14.64	-23.79	-30.03	-21.28

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-26.05	-33.28	-39.11	-48.46	-39.45

Net Assets	34.38	27.13	21.40	12.30	13.55

Capital & Reserves
Share Capital	0.43	0.43	0.44	0.44	0.45
Share Premium Account	0.01	0.00	0.00	0.00	0.00
Other Reserves	2.90	3.08	3.12	4.72	0.50
Retained Earnings	31.04	23.61	17.83	7.13	12.60
Shareholders Funds	34.37	27.12	21.39	12.29	13.54

Minority Interests/Other Equity	0.01	0.01	0.01	0.01	0.01
Total Equity	34.38	27.13	21.40	12.30	13.55

Ratios - based on IFRS	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	29-Dec-07
Continuing Operations
PE Ratio - Adjusted	6.28	6.72	n/a	3.38	6.94
PEG - Adjusted	0.53	-0.84	n/a	0.16	n/a
Earnings per Share Growth - Adjusted	11.82%	-8.02%	5.84%	20.51%	n/a
Dividend Cover	4.10	2.18	n/a	0.74	n/a
Revenue Per Share	125.93p	128.12p	122.79p	151.47p	129.84p
Pre-Tax Profit per Share	34.86p	32.91p	30.02p	34.56p	27.78p
Operating Margin	28.02%	25.36%	24.71%	25.13%	22.93%
Return on Capital Employed	31.17%	31.04%	28.43%	37.12%	34.96%

Continuing & Discontinued Operations
Dividend Yield	3.88%	6.83%	n/a	40.00%	0.00%
Dividend per Share Growth	-40.54%	n/a	-100.00%	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	80.52p	62.89p	48.32p	27.77p	30.38p
Net Gearing	-30.22%	-18.27%	54.94%	136.84%	91.00%

Data is provided by Morningstar

ANDREWS SYKES - Fundamentals