TAL TEN ALPS PLC ORD 2P

TEN ALPS Currency GBX

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	43.52	40.62	66.13	80.22	81.39
Operating Profit/(Loss)	-4.22	-23.15	3.59	4.36	3.86
Net Interest	0.44	0.36	0.38	1.08	0.91
Profit Before Tax	-3.91	-24.24	3.18	3.33	3.15
Profit After Tax	-3.36	-23.11	2.44	3.02	2.83
Discontinued Operations
Profit After Tax	-0.14	1.31	0.00	0.00	0.00
PROFIT FOR THE PERIOD	-3.50	-21.80	2.44	3.02	2.83
Attributable to:
Minority Interests	-0.01	-0.25	-0.10	-0.16	-0.30
Equity Holders of Parent Company	-3.51	-22.04	2.34	2.86	2.53

Continuing EPS
Earnings per Share - Basic	-2.54p	-27.74p	3.63p	5.34p	4.87p
Earnings per Share - Diluted	-2.54p	-27.74p	3.63p	5.31p	4.79p
Earnings per Share - Adjusted	-0.59p	-7.57p	6.41p	6.52p	6.06p
Continuing and Discontinued EPS
Earnings per Share - Basic	-3.02p	-26.18p	3.63p	5.34p	4.87p
Earnings per Share - Diluted	-3.02p	-26.18p	3.63p	5.31p	4.79p
Earnings per Share - Adjusted	-1.07p	-6.01p	6.41p	6.52p	6.06p

Dividend per Share	0.00p	0.00p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Assets
Non-Current Assets
Property, Plant & Equipment	0.72	1.18	1.60	1.72	1.87
Intangible Assets	12.05	14.61	29.40	28.26	27.13
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.51	0.09	0.00	0.00	0.00
	13.28	15.88	31.00	29.97	29.00
Current Assets
Inventories	1.74	2.95	2.40	3.74	3.60
Trade & Other Receivables	11.69	13.81	15.97	18.06	19.24
Cash at Bank & in Hand	2.86	4.49	6.67	13.13	11.15
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00	0.22
	16.30	21.25	25.03	34.93	34.21

Total Assets	29.58	37.13	56.03	64.90	63.21

Liabilities
Current Liabilities
Borrowings	-2.42	-6.96	-2.53	-2.54	-3.64
Other Current Liabilities	-14.77	-18.38	-18.02	-26.65	-30.04
	-17.20	-25.34	-20.55	-29.18	-33.68

Net Current Assets	-0.90	-4.09	4.49	5.75	0.53

Non-Current Liabilities
Borrowings	-6.12	-1.52	-9.45	-11.97	-10.56
Provisions	0.00	0.00	-0.29	-0.07	-0.13
Other Non-Current Liabilities	-0.11	0.00	-0.02	-0.77	-1.91
	-6.23	-1.52	-9.76	-12.82	-12.61

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-23.43	-26.86	-30.30	-42.00	-46.28

Net Assets	6.15	10.26	25.73	22.90	16.93

Capital & Reserves
Share Capital	2.65	2.65	1.29	1.28	1.04
Share Premium Account	14.63	14.63	10.18	10.00	7.20
Other Reserves	0.71	0.70	2.94	2.93	2.93
Retained Earnings	-12.04	-8.09	10.97	8.53	5.61
Shareholders Funds	5.95	9.89	25.38	22.74	16.78

Minority Interests/Other Equity	0.20	0.37	0.34	0.17	0.15
Total Equity	6.15	10.26	25.73	22.90	16.93

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	-4.03	-0.41	3.67	4.22	7.22
PEG - Adjusted	0.04	0.00	-2.17	0.56	0.10
Earnings per Share Growth - Adjusted	-92.21%	-218.10%	-1.69%	7.59%	68.80%
Dividend Cover	n/a	n/a	n/a	n/a	n/a
Revenue Per Share	32.83p	48.25p	102.75p	149.79p	156.38p
Pre-Tax Profit per Share	-2.95p	-28.79p	4.94p	6.21p	6.06p
Operating Margin	-7.99%	-58.84%	5.16%	5.13%	4.55%
Return on Capital Employed	-131.51%	-577.77%	41.48%	47.71%	98.26%

Continuing & Discontinued Operations
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Dividend per Share Growth	n/a	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	-4.60p	-3.56p	-6.21p	-8.64p	-19.86p
Net Gearing	95.41%	40.37%	20.91%	6.08%	18.22%

Data is provided by Morningstar

TEN ALPS - Fundamentals