WTM WATERMAN GROUP PLC ORD 10P

WATERMAN GROUP Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
Revenue	68.84	74.10	83.24	122.40	136.42
Operating Profit/(Loss)	1.03	1.05	-4.65	3.52	8.31
Net Interest	0.32	0.52	0.68	1.04	1.11
Profit Before Tax	0.53	0.61	-5.04	2.59	6.99
Profit After Tax	0.57	0.44	-4.39	2.77	4.61
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	0.57	0.44	-4.39	2.77	4.61
Attributable to:
Minority Interests	-0.66	-0.32	-0.75	-0.26	-0.85
Equity Holders of Parent Company	-0.09	0.12	-5.14	2.52	3.76

Continuing EPS
Earnings per Share - Basic	-0.30p	0.40p	-16.90p	8.60p	12.90p
Earnings per Share - Diluted	-0.30p	0.40p	-16.90p	8.50p	12.60p
Earnings per Share - Adjusted	-0.30p	0.40p	-2.40p	8.60p	14.00p
Continuing and Discontinued EPS
Earnings per Share - Basic	-0.30p	0.40p	-16.90p	8.60p	12.90p
Earnings per Share - Diluted	-0.30p	0.40p	-16.90p	8.50p	12.60p
Earnings per Share - Adjusted	-0.30p	0.40p	-2.40p	8.60p	14.00p

Dividend per Share	0.20p	1.00p	1.80p	5.10p	6.10p

Balance Sheet (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Assets
Non-Current Assets
Property, Plant & Equipment	2.35	10.24	10.89	13.90	14.79
Intangible Assets	17.56	18.16	18.13	19.75	20.21
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.01	0.01	0.01
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	1.19	0.86	0.24	0.39	0.36
	21.10	29.26	29.27	34.05	35.37
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	32.68	35.87	38.18	50.99	61.43
Cash at Bank & in Hand	3.98	1.41	4.91	6.16	5.93
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
	36.65	37.28	43.09	57.15	67.36

Total Assets	57.75	66.53	72.36	91.19	102.73

Liabilities
Current Liabilities
Borrowings	-0.44	-1.27	-7.56	-3.39	-2.37
Other Current Liabilities	-20.26	-19.54	-22.81	-32.84	-43.00
	-20.71	-20.80	-30.37	-36.23	-45.37

Net Current Assets	15.95	16.47	12.72	20.91	21.99

Non-Current Liabilities
Borrowings	-1.67	-8.76	-3.72	-11.35	-12.47
Provisions	-1.78	-2.65	-4.47	-4.58	-6.32
Other Non-Current Liabilities	0.00	0.00	0.00	-0.40	-2.07
	-3.45	-11.41	-8.19	-16.34	-20.86

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-24.16	-32.21	-38.56	-52.57	-66.23

Net Assets	33.60	34.32	33.80	38.63	36.50

Capital & Reserves
Share Capital	3.08	3.08	3.08	3.08	2.91
Share Premium Account	11.88	11.88	11.88	11.88	11.83
Other Reserves	3.74	3.74	3.73	4.64	3.85
Retained Earnings	13.00	12.85	12.81	17.31	16.25
Shareholders Funds	31.70	31.55	31.49	36.90	34.84

Minority Interests/Other Equity	1.90	2.77	2.31	1.73	1.66
Total Equity	33.60	34.32	33.80	38.63	36.50

Ratios - based on IFRS	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
PE Ratio - Adjusted	-160.00	92.50	-18.54	4.83	9.18
PEG - Adjusted	0.91	-0.79	0.14	-0.13	0.55
Earnings per Share Growth - Adjusted	-175.00%	-116.67%	-127.91%	-38.57%	16.67%
Dividend Cover	-1.50	0.40	-1.33	1.69	2.30
Revenue Per Share	225.31p	242.93p	273.08p	416.29p	470.12p
Pre-Tax Profit per Share	1.73p	2.01p	-16.55p	8.80p	24.09p
Operating Margin	1.16%	1.57%	-5.78%	2.54%	5.64%
Return on Capital Employed	4.25%	3.91%	-13.88%	9.49%	21.64%

Continuing & Discontinued Operations
Dividend Yield	0.42%	2.70%	4.04%	12.29%	4.75%
Dividend per Share Growth	-80.00%	-44.44%	-64.71%	-16.39%	8.93%
Net Asset Value per Share (exc. Intangibles)	45.96p	43.54p	43.43p	55.76p	50.28p
Net Gearing	-5.87%	27.31%	20.24%	23.26%	25.56%

Data is provided by Morningstar

WATERMAN GROUP - Fundamentals