VCP VICTORIA PLC ORD 25P

VICTORIA Currency GBX

Income Statement (£ m)	31-Mar-12	02-Apr-11	03-Apr-10	04-Apr-09	29-Mar-08
Continuing Operations
Revenue	77.13	70.50	62.97	62.15	61.70
Operating Profit/(Loss)	1.92	2.42	1.78	2.23	4.19
Net Interest	0.48	0.51	0.55	0.74	0.74
Profit Before Tax	1.55	1.92	1.09	1.46	3.51
Profit After Tax	1.09	1.21	0.63	0.39	2.54
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	1.09	1.21	0.63	0.39	2.54
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	1.09	1.21	0.63	0.39	2.54

Continuing EPS
Earnings per Share - Basic	15.64p	17.41p	9.04p	5.60p	36.54p
Earnings per Share - Diluted	14.12p	15.76p	7.87p	5.22p	36.54p
Earnings per Share - Adjusted	23.71p	18.35p	9.04p	15.01p	36.54p
Continuing and Discontinued EPS
Earnings per Share - Basic	15.64p	17.41p	9.04p	5.60p	36.54p
Earnings per Share - Diluted	14.12p	15.76p	7.87p	5.22p	36.54p
Earnings per Share - Adjusted	23.71p	18.35p	9.04p	15.01p	36.54p

Dividend per Share	9.50p	8.40p	6.60p	18.00p	12.50p

Balance Sheet (£ m)	31-Mar-12	02-Apr-11	03-Apr-10	04-Apr-09	29-Mar-08
Assets
Non-Current Assets
Property, Plant & Equipment	24.80	26.36	27.28	26.25	24.69
Intangible Assets	0.74	0.39	0.49	0.53	0.51
Investment Properties	0.18	0.18	0.18	0.18	0.18
Investments	0.56	0.49	0.51	0.56	0.54
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.81	0.85	1.53	1.07	1.13
	27.27	28.45	30.17	28.77	27.23
Current Assets
Inventories	25.97	22.90	20.69	19.63	18.16
Trade & Other Receivables	11.68	11.82	10.24	9.18	9.52
Cash at Bank & in Hand	0.81	1.63	0.91	0.26	1.26
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
	38.45	36.35	31.84	29.06	28.94

Total Assets	65.72	64.80	62.00	57.83	56.17

Liabilities
Current Liabilities
Borrowings	-8.17	-6.34	-5.09	-5.47	-4.63
Other Current Liabilities	-13.50	-13.07	-11.62	-9.38	-11.03
	-21.66	-19.42	-16.71	-14.85	-15.65

Net Current Assets	16.79	16.93	15.13	14.22	13.29

Non-Current Liabilities
Borrowings	-0.39	-1.50	-2.95	-6.22	-4.24
Provisions	-1.09	-1.51	-2.71	-2.68	-2.25
Other Non-Current Liabilities	-2.25	-2.61	-2.37	-1.52	-1.47
	-3.74	-5.62	-8.04	-10.42	-7.96

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-25.40	-25.03	-24.75	-25.26	-23.61

Net Assets	40.32	39.76	37.26	32.57	32.56

Capital & Reserves
Share Capital	1.74	1.74	1.74	1.74	1.74
Share Premium Account	0.83	0.83	0.83	0.83	0.83
Other Reserves	0.18	0.13	0.00	0.00	0.00
Retained Earnings	37.58	37.07	34.69	30.00	30.00
Shareholders Funds	40.32	39.76	37.26	32.57	32.56

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	40.32	39.76	37.26	32.57	32.56

Ratios - based on IFRS	31-Mar-12	02-Apr-11	03-Apr-10	04-Apr-09	29-Mar-08
Continuing Operations
PE Ratio - Adjusted	12.02	14.03	24.61	7.96	6.81
PEG - Adjusted	0.41	0.14	-0.62	-0.14	0.26
Earnings per Share Growth - Adjusted	29.21%	102.99%	-39.77%	-58.92%	26.35%
Dividend Cover	2.50	2.18	1.37	0.83	2.92
Revenue Per Share	1110.69p	1015.31p	906.87p	895.02p	888.55p
Pre-Tax Profit per Share	22.28p	27.71p	15.67p	21.05p	50.53p
Operating Margin	2.49%	3.43%	2.80%	3.54%	6.77%
Return on Capital Employed	4.12%	4.99%	3.44%	4.75%	9.85%

Continuing & Discontinued Operations
Dividend Yield	3.33%	3.26%	2.97%	15.06%	5.02%
Dividend per Share Growth	13.10%	27.27%	-63.33%	44.00%	8.70%
Net Asset Value per Share (exc. Intangibles)	569.96p	567.01p	529.49p	461.36p	461.56p
Net Gearing	19.21%	15.63%	19.17%	35.11%	23.34%

Data is provided by Morningstar

VICTORIA - Fundamentals