FDP FIRST DERIVATIVES PLC ORD 0.5P

FIRST DERIV. Currency GBX

Income Statement (£ m)	29-Feb-12	28-Feb-11	28-Feb-10	28-Feb-09	29-Feb-08
Continuing Operations
Revenue	46.09	36.74	25.48	17.55	12.67
Operating Profit/(Loss)	7.96	6.57	6.29	5.94	5.23
Net Interest	0.65	0.72	0.48	0.56	0.69
Profit Before Tax	6.95	6.50	5.65	4.46	4.72
Profit After Tax	5.95	5.11	3.79	3.07	3.05
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	5.95	5.11	3.79	3.07	3.05
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	5.95	5.11	3.79	3.07	3.05

Continuing EPS
Earnings per Share - Basic	36.00p	33.20p	27.10p	22.80p	23.30p
Earnings per Share - Diluted	32.80p	29.00p	25.80p	22.20p	22.20p
Earnings per Share - Adjusted	37.50p	28.60p	28.30p	27.70p	23.50p
Continuing and Discontinued EPS
Earnings per Share - Basic	36.00p	33.20p	27.10p	22.80p	23.30p
Earnings per Share - Diluted	32.80p	29.00p	25.80p	22.20p	22.20p
Earnings per Share - Adjusted	37.50p	28.60p	28.30p	27.70p	23.50p

Dividend per Share	10.25p	9.65p	9.40p	8.15p	5.90p

Balance Sheet (£ m)	29-Feb-12	28-Feb-11	28-Feb-10	28-Feb-09	29-Feb-08
Assets
Non-Current Assets
Property, Plant & Equipment	14.74	18.29	17.94	17.17	16.79
Intangible Assets	30.05	26.73	22.28	10.51	0.13
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	7.06	7.45	7.71	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	2.19	1.86	0.52	2.05	1.06
	54.04	54.33	48.44	29.73	17.97
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	13.77	12.56	9.73	6.33	4.13
Cash at Bank & in Hand	1.32	3.50	1.71	1.30	0.40
Current Asset Investments	0.00	0.00	0.00	0.00	0.00
Other Current Assets	1.60	0.00	0.00	0.00	0.00
	16.68	16.06	11.44	7.63	4.52

Total Assets	70.72	70.40	59.88	37.37	22.49

Liabilities
Current Liabilities
Borrowings	-3.60	-1.12	-4.57	-0.99	-1.83
Other Current Liabilities	-11.16	-17.15	-16.60	-7.61	-4.31
	-14.76	-18.27	-21.17	-8.60	-6.14

Net Current Assets	1.92	-2.21	-9.74	-0.97	-1.62

Non-Current Liabilities
Borrowings	-18.60	-21.54	-17.70	-12.99	-7.97
Provisions	-2.22	-1.66	-1.32	-0.09	-0.09
Other Non-Current Liabilities	-2.90	-4.03	-3.37	-4.42	0.00
	-23.72	-27.23	-22.40	-17.49	-8.05

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-38.48	-45.51	-43.57	-26.10	-14.19

Net Assets	32.24	24.89	16.31	11.27	8.30

Capital & Reserves
Share Capital	0.08	0.08	0.07	0.07	0.07
Share Premium Account	10.50	7.85	3.91	2.27	1.28
Other Reserves	3.13	2.76	1.85	0.90	0.94
Retained Earnings	18.52	14.21	10.48	8.03	6.02
Shareholders Funds	32.24	24.89	16.31	11.27	8.30

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	32.24	24.89	16.31	11.27	8.30

Ratios - based on IFRS	29-Feb-12	28-Feb-11	28-Feb-10	28-Feb-09	29-Feb-08
Continuing Operations
PE Ratio - Adjusted	12.93	14.86	8.75	4.96	12.34
PEG - Adjusted	0.42	14.02	4.03	0.28	0.21
Earnings per Share Growth - Adjusted	31.12%	1.06%	2.17%	17.87%	57.72%
Dividend Cover	3.66	2.96	3.01	3.40	3.98
Revenue Per Share	279.15p	238.34p	182.06p	130.11p	96.79p
Pre-Tax Profit per Share	42.08p	42.13p	40.34p	33.08p	36.03p
Operating Margin	15.48%	17.34%	23.78%	28.57%	41.04%
Return on Capital Employed	28.54%	32.10%	34.71%	33.89%	29.95%

Continuing & Discontinued Operations
Dividend Yield	2.11%	2.27%	3.80%	5.93%	2.03%
Dividend per Share Growth	6.22%	2.66%	15.34%	38.14%	34.09%
Net Asset Value per Share (exc. Intangibles)	13.12p	-11.58p	-41.38p	5.52p	61.58p
Net Gearing	64.78%	77.01%	126.09%	112.47%	113.26%

Data is provided by Morningstar

FIRST DERIV. - Fundamentals