MUL MULBERRY GROUP PLC ORD 5P

MULBERRY GROUP Currency GBX

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	168.45	121.65	72.05	58.59	51.17
Operating Profit/(Loss)	35.42	23.01	4.86	3.93	4.77
Net Interest	0.05	0.04	0.03	0.02	0.12
Profit Before Tax	36.00	23.35	5.10	4.18	5.19
Profit After Tax	25.30	17.06	2.97	2.58	3.44
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	25.30	17.06	2.97	2.58	3.44
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	25.30	17.06	2.97	2.58	3.44

Continuing EPS
Earnings per Share - Basic	43.90p	29.80p	5.20p	4.50p	6.00p
Earnings per Share - Diluted	43.40p	29.10p	5.20p	4.50p	6.00p
Earnings per Share - Adjusted	43.90p	30.40p	6.90p	4.50p	6.00p
Continuing and Discontinued EPS
Earnings per Share - Basic	43.90p	29.80p	5.20p	4.50p	6.00p
Earnings per Share - Diluted	43.40p	29.10p	5.20p	4.50p	6.00p
Earnings per Share - Adjusted	43.90p	30.40p	6.90p	4.50p	6.00p

Dividend per Share	4.00p	2.20p	2.00p	2.00p	1.50p

Balance Sheet (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Assets
Non-Current Assets
Property, Plant & Equipment	24.21	18.21	7.88	8.87	8.45
Intangible Assets	3.98	2.13	2.50	2.53	2.10
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.36	0.21	0.35	0.30	0.24
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.00	0.07	0.04	0.00	0.00
	28.55	20.62	10.76	11.69	10.79
Current Assets
Inventories	32.55	22.41	9.09	14.83	7.79
Trade & Other Receivables	14.91	12.19	8.26	6.03	5.55
Cash at Bank & in Hand	27.29	21.37	12.17	3.71	10.24
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	74.75	55.97	29.52	24.57	23.57

Total Assets	103.30	76.59	40.28	36.27	34.36

Liabilities
Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	-0.01
Other Current Liabilities	-40.82	-34.56	-13.82	-11.75	-11.81
	-40.82	-34.56	-13.82	-11.75	-11.82

Net Current Assets	33.94	21.41	15.71	12.82	11.75

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	-0.00
Provisions	-0.03	0.00	0.00	-0.13	-0.02
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-0.03	0.00	0.00	-0.13	-0.02

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-40.84	-34.56	-13.82	-11.88	-11.84

Net Assets	62.46	42.03	26.47	24.38	22.52

Capital & Reserves
Share Capital	2.98	2.94	2.94	2.87	2.87
Share Premium Account	11.58	7.01	7.01	7.01	7.01
Other Reserves	-2.17	1.39	1.90	2.07	1.85
Retained Earnings	50.07	30.70	14.62	12.44	10.79
Shareholders Funds	62.46	42.03	26.47	24.38	22.52

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	62.46	42.03	26.47	24.38	22.52

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	45.65	45.18	27.61	14.28	22.17
PEG - Adjusted	1.03	0.13	0.52	-0.57	-0.85
Earnings per Share Growth - Adjusted	44.41%	340.58%	53.33%	-25.00%	-25.93%
Dividend Cover	10.98	13.82	3.45	2.25	4.00
Revenue Per Share	292.45p	212.29p	125.53p	102.03p	89.83p
Pre-Tax Profit per Share	62.50p	40.74p	8.88p	7.27p	9.10p
Operating Margin	21.03%	18.92%	6.74%	6.71%	9.33%
Return on Capital Employed	61.62%	58.62%	21.37%	19.07%	25.96%

Continuing & Discontinued Operations
Dividend Yield	0.20%	0.16%	1.05%	3.11%	1.13%
Dividend per Share Growth	81.82%	10.00%	0.00%	33.33%	50.00%
Net Asset Value per Share (exc. Intangibles)	98.06p	67.77p	40.71p	38.07p	35.57p
Net Gearing	-43.69%	-50.85%	-45.99%	-15.21%	-45.40%

Data is provided by Morningstar

MULBERRY GROUP - Fundamentals