NFC NEXT FIFTEEN COMMUNICATIONS GROUP PLC ORD 2.5P

NEXT FIFTEEN Currency GBX

Income Statement (£ m)	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-08
Continuing Operations
Revenue	91.58	86.04	72.33	65.39	63.11
Operating Profit/(Loss)	6.64	8.02	6.51	3.85	6.12
Net Interest	0.52	0.48	0.45	0.49	0.42
Profit Before Tax	5.96	7.53	5.30	3.16	5.52
Profit After Tax	4.31	5.27	3.71	2.27	3.86
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	4.31	5.27	3.71	2.27	3.86
Attributable to:
Minority Interests	-0.40	-0.27	-0.04	-0.34	-0.20
Equity Holders of Parent Company	3.91	5.00	3.68	1.93	3.66

Continuing EPS
Earnings per Share - Basic	6.85p	9.10p	6.75p	3.67p	7.08p
Earnings per Share - Diluted	6.04p	7.82p	6.02p	3.66p	6.99p
Earnings per Share - Adjusted	11.42p	10.17p	8.45p	6.48p	8.62p
Continuing and Discontinued EPS
Earnings per Share - Basic	6.85p	9.10p	6.75p	3.67p	7.08p
Earnings per Share - Diluted	6.04p	7.82p	6.02p	3.66p	6.99p
Earnings per Share - Adjusted	11.42p	10.17p	8.45p	6.48p	8.62p

Dividend per Share	2.10p	1.89p	1.73p	1.70p	1.55p

Balance Sheet (£ m)	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-08
Assets
Non-Current Assets
Property, Plant & Equipment	2.72	3.07	2.27	1.95	2.44
Intangible Assets	41.02	37.93	27.11	18.44	15.46
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.29	0.00	0.00	0.00	0.19
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	4.20	3.34	2.54	2.23	2.12
	48.23	44.34	31.92	22.62	20.21
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	24.90	26.25	22.17	15.71	16.42
Cash at Bank & in Hand	8.44	8.52	7.30	7.13	9.53
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
	33.34	34.77	29.47	22.84	25.95

Total Assets	81.56	79.11	61.39	45.46	46.15

Liabilities
Current Liabilities
Borrowings	-0.28	-0.33	-5.26	-0.35	-0.42
Other Current Liabilities	-23.95	-25.77	-19.99	-14.89	-20.23
	-24.23	-26.10	-25.25	-15.24	-20.64

Net Current Assets	9.11	8.67	4.22	7.60	5.30

Non-Current Liabilities
Borrowings	-10.76	-9.76	-2.85	-5.00	-5.70
Provisions	-0.37	-0.25	-0.07	-0.32	-0.03
Other Non-Current Liabilities	-8.98	-10.66	-5.64	0.00	-0.14
	-20.11	-20.68	-8.56	-5.32	-5.87

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-44.34	-46.77	-33.81	-20.56	-26.51

Net Assets	37.23	32.33	27.58	24.90	19.64

Capital & Reserves
Share Capital	1.45	1.42	1.40	1.38	1.35
Share Premium Account	6.94	6.00	5.58	5.16	5.16
Other Reserves	2.62	0.49	2.86	3.19	-0.08
Retained Earnings	24.10	21.14	16.79	14.42	12.96
Shareholders Funds	35.11	29.04	26.63	24.15	19.39

Minority Interests/Other Equity	2.12	3.29	0.95	0.76	0.25
Total Equity	37.23	32.33	27.58	24.90	19.64

Ratios - based on IFRS	31-Jul-12	31-Jul-11	31-Jul-10	31-Jul-09	31-Jul-08
Continuing Operations
PE Ratio - Adjusted	8.14	8.26	7.10	7.41	4.76
PEG - Adjusted	0.66	0.41	0.23	-0.30	0.22
Earnings per Share Growth - Adjusted	12.29%	20.36%	30.40%	-24.83%	21.58%
Dividend Cover	5.44	5.38	4.90	3.81	5.56
Revenue Per Share	160.57p	156.64p	132.85p	124.36p	121.98p
Pre-Tax Profit per Share	10.45p	13.70p	9.74p	6.01p	10.66p
Operating Margin	7.01%	9.24%	7.58%	5.26%	8.82%
Return on Capital Employed	85.03%	168.62%	66.48%	30.07%	57.45%

Continuing & Discontinued Operations
Dividend Yield	2.26%	2.25%	2.88%	3.54%	3.78%
Dividend per Share Growth	11.11%	9.57%	1.47%	9.68%	10.71%
Net Asset Value per Share (exc. Intangibles)	-10.16p	-16.01p	-0.88p	10.55p	7.39p
Net Gearing	7.42%	5.41%	3.06%	-7.39%	-17.58%

Data is provided by Morningstar

NEXT FIFTEEN - Fundamentals