SMT SCOTTISH MORTGAGE INVESTMENT TRUST PLC ORD 25P

SCOTTISH MORT Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	31-Mar-13	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
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	39.51	33.47	34.37	30.20	34.57
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	39.51	33.47	34.37	30.20	34.57
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	39.51	33.47	34.37	30.20	34.57

Continuing EPS
Earnings per Share - Basic	15.59p	13.07p	13.32p	11.18p	12.67p
Earnings per Share - Diluted	15.59p	13.07p	13.32p	11.18p	12.67p
Earnings per Share - Adjusted	15.59p	13.07p	13.32p	11.18p	12.67p
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	13.50p	12.40p	11.60p	11.00p	12.10p

Balance Sheet (£ m)	31-Mar-13	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
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	2581.85	2361.64	2486.25	2130.49	1361.99
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
	2581.85	2361.64	2486.25	2130.49	1361.99
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	5.40	8.32	15.47	9.82	9.07
Cash at Bank & in Hand	13.87	20.86	14.70	18.90	35.77
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
	19.27	29.18	30.17	28.72	44.85

Total Assets	2601.12	2390.81	2516.42	2159.21	1406.83

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
	72.867	125.295	178.745	167.751	77.631

Net Current Assets	-53.60	-96.12	-148.58	-139.03	-32.78

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
	309.88	253.19	205.38	151.55	248.87

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	382.75	378.49	384.12	319.30	326.50

Net Assets	2218.37	2012.32	2132.29	1839.91	1080.34

Capital & Reserves
Share Capital	2218.37	2012.32	2132.29	1839.91	1080.34
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	2218.37	2012.32	2132.29	1839.91	1080.34

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	2218.37	2012.32	2132.29	1839.91	1080.34

Ratios - based on IFRS	31-Mar-13	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09
Continuing Operations
PE Ratio - Adjusted	52.76	54.17	55.71	54.47	27.86
PEG - Adjusted	2.74	-28.81	2.91	-4.63	0.95
Earnings per Share Growth - Adjusted	19.28%	-1.88%	19.14%	-11.76%	29.42%
Dividend Cover	1.15	1.05	1.15	1.02	1.05
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	1.64%	1.75%	1.56%	1.81%	3.43%
Dividend per Share Growth	8.87%	6.90%	5.45%	-9.09%	21.00%
Net Asset Value per Share (exc. Intangibles)	780.17p	793.44p	831.24p	708.97p	397.05p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

SCOTTISH MORT - Fundamentals