SCAM SCOTTISH AMERICAN INVESTMENT CO. PLC ORD 25P

SCOT.AMER.INV. Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-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	13.56	12.35	11.27	11.99	13.91
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	13.56	12.35	11.27	11.99	13.91
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	13.56	12.35	11.27	11.99	13.91

Continuing EPS
Earnings per Share - Basic	10.22p	9.32p	8.51p	9.05p	10.50p
Earnings per Share - Diluted	10.22p	9.32p	8.51p	9.05p	10.50p
Earnings per Share - Adjusted	10.22p	9.32p	8.51p	9.05p	10.50p
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	9.70p	9.40p	9.20p	9.00p	8.70p

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	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	400.65	380.41	381.24	323.95	263.44
Other Financial Assets	n/a	n/a	n/a	n/a	n/a
Other Non-Current Assets	0.00	0.00	31.95	31.00	23.95
	400.65	380.41	413.19	354.95	287.39
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	1.74	1.55	1.54	2.09	2.86
Cash at Bank & in Hand	2.02	3.17	6.15	10.68	2.93
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
	3.76	4.72	7.70	12.77	5.79

Total Assets	404.41	385.12	420.89	367.72	293.18

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
	2.629	3.956	2.616	2.651	4.089

Net Current Assets	1.13	0.76	5.08	10.12	1.70

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
	86.47	86.97	87.45	87.89	88.31

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	89.10	90.93	90.06	90.54	92.40

Net Assets	315.31	294.19	330.82	277.18	200.78

Capital & Reserves
Share Capital	315.31	294.19	330.82	277.18	200.78
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	315.31	294.19	330.82	277.18	200.78

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	315.31	294.19	330.82	277.18	200.78

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	22.06	22.37	28.85	20.00	12.43
PEG - Adjusted	2.28	2.35	-4.83	-1.45	0.55
Earnings per Share Growth - Adjusted	9.66%	9.52%	-5.97%	-13.81%	22.66%
Dividend Cover	1.05	0.99	0.93	1.01	1.21
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	4.30%	4.51%	3.75%	4.97%	6.67%
Dividend per Share Growth	3.19%	2.17%	2.22%	3.45%	7.41%
Net Asset Value per Share (exc. Intangibles)	237.66p	221.74p	249.70p	209.21p	151.54p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

SCOT.AMER.INV. - Fundamentals