NICL NICHOLS PLC ORD 10P

NICHOLS Currency GBX

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	107.79	98.91	83.90	72.38	56.22
Operating Profit/(Loss)	20.52	18.15	14.82	12.21	3.86
Net Interest	0.00	0.00	0.00	0.03	0.01
Profit Before Tax	20.51	18.11	14.79	11.93	4.10
Profit After Tax	15.26	13.33	10.82	8.35	2.96
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	15.26	13.33	10.82	8.35	2.96
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	15.26	13.33	10.82	8.35	2.96

Continuing EPS
Earnings per Share - Basic	41.43p	36.28p	29.63p	22.86p	8.10p
Earnings per Share - Diluted	41.38p	36.25p	29.59p	22.57p	8.10p
Earnings per Share - Adjusted	41.43p	36.28p	30.22p	23.44p	20.03p
Continuing and Discontinued EPS
Earnings per Share - Basic	41.43p	36.28p	29.63p	22.86p	8.10p
Earnings per Share - Diluted	41.38p	36.25p	29.59p	22.57p	8.10p
Earnings per Share - Adjusted	41.43p	36.28p	30.22p	23.44p	20.03p

Dividend per Share	15.92p	14.10p	12.55p	11.45p	10.65p

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	1.28	1.37	1.29	1.57	2.01
Intangible Assets	15.97	13.66	11.91	9.89	9.52
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	2.15	2.58	2.59	2.83	2.71
	19.40	17.61	15.79	14.29	14.23
Current Assets
Inventories	5.33	5.79	3.42	2.69	2.76
Trade & Other Receivables	23.74	21.12	16.27	14.73	13.58
Cash at Bank & in Hand	24.75	20.11	14.97	11.22	6.05
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
	53.82	47.02	34.66	28.64	22.38

Total Assets	73.21	64.63	50.45	42.93	36.61

Liabilities
Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	0.00
Other Current Liabilities	-21.62	-21.96	-16.06	-13.63	-11.63
	-21.62	-21.96	-16.06	-13.63	-11.63

Net Current Assets	32.20	25.06	18.59	15.01	10.76

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	0.00
Provisions	-0.05	-0.05	-0.07	-0.10	-0.16
Other Non-Current Liabilities	-6.56	-6.31	-4.14	-4.74	-3.57
	-6.60	-6.36	-4.21	-4.84	-3.72

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-28.22	-28.33	-20.27	-18.47	-15.35

Net Assets	45.00	36.30	30.18	24.46	21.27

Capital & Reserves
Share Capital	3.70	3.70	3.70	3.70	3.70
Share Premium Account	3.26	3.26	3.26	3.26	3.26
Other Reserves	0.74	0.66	0.58	0.85	0.64
Retained Earnings	37.31	28.69	22.64	16.65	13.68
Shareholders Funds	45.00	36.30	30.18	24.46	21.27

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	45.00	36.30	30.18	24.46	21.27

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	20.56	14.63	14.94	12.84	10.18
PEG - Adjusted	1.45	0.73	0.52	0.75	0.66
Earnings per Share Growth - Adjusted	14.20%	20.05%	28.92%	17.02%	15.38%
Dividend Cover	2.60	2.57	2.41	2.05	1.88
Revenue Per Share	292.70p	269.30p	229.67p	198.03p	154.11p
Pre-Tax Profit per Share	55.69p	49.29p	40.49p	32.63p	11.23p
Operating Margin	18.73%	18.23%	17.47%	16.41%	6.80%
Return on Capital Employed	57.57%	62.41%	65.82%	61.59%	26.57%

Continuing & Discontinued Operations
Dividend Yield	1.87%	2.66%	2.78%	3.80%	5.22%
Dividend per Share Growth	12.91%	12.35%	9.61%	7.51%	6.50%
Net Asset Value per Share (exc. Intangibles)	78.50p	61.46p	49.40p	39.40p	31.98p
Net Gearing	-54.99%	-55.40%	-49.60%	-45.85%	-28.44%

Data is provided by Morningstar

NICHOLS - Fundamentals