PNL PERSONAL ASSETS TRUST PLC ORD �12.50

PERSONAL ASSETS Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	30-Apr-12	30-Apr-11	30-Apr-10	30-Apr-09	30-Apr-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	6.23	5.00	3.60	3.90	4.04
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	6.23	5.00	3.60	3.90	4.04
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	6.23	5.00	3.60	3.90	4.04

Continuing EPS
Earnings per Share - Basic	532.00p	568.00p	461.00p	534.00p	559.00p
Earnings per Share - Diluted	532.00p	568.00p	461.00p	534.00p	559.00p
Earnings per Share - Adjusted	532.00p	568.00p	461.00p	534.00p	559.00p
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	555.00p	540.00p	520.00p	500.00p	460.00p

Balance Sheet (£ m)	30-Apr-12	30-Apr-11	30-Apr-10	30-Apr-09	30-Apr-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	451.83	291.60	225.77	158.18	170.55
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
	451.83	291.60	225.77	158.18	170.55
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	7.16	7.74	2.85	5.04	9.40
Cash at Bank & in Hand	5.54	11.40	6.39	8.20	14.66
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	n/a	n/a	n/a	n/a	n/a
	12.70	19.14	9.24	13.24	24.06

Total Assets	464.53	310.74	235.01	171.42	194.60

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
	1.052	0.739	1.228	0.292	5.939

Net Current Assets	11.65	18.40	8.01	12.95	18.12

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	1.05	0.74	1.23	0.29	5.94

Net Assets	463.47	310.00	233.79	171.13	188.66

Capital & Reserves
Share Capital	463.47	310.00	233.79	171.13	188.66
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	463.47	310.00	233.79	171.13	188.66

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	463.47	310.00	233.79	171.13	188.66

Ratios - based on IFRS	30-Apr-12	30-Apr-11	30-Apr-10	30-Apr-09	30-Apr-08
Continuing Operations
PE Ratio - Adjusted	64.04	55.99	62.80	43.63	46.20
PEG - Adjusted	-10.10	2.41	-4.59	-9.76	3.57
Earnings per Share Growth - Adjusted	-6.34%	23.21%	-13.67%	-4.47%	12.93%
Dividend Cover	0.96	1.05	0.89	1.07	1.22
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	1.63%	1.70%	1.80%	2.15%	1.78%
Dividend per Share Growth	2.78%	3.85%	4.00%	8.70%	12.20%
Net Asset Value per Share (exc. Intangibles)	33560.68p	31472.08p	28685.28p	22970.74p	25738.61p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

PERSONAL ASSETS - Fundamentals