HRN HORNBY PLC ORD 1P

HORNBY Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	64.45	63.37	63.86	61.57	55.69
Operating Profit/(Loss)	4.74	4.89	6.00	6.90	9.39
Net Interest	0.78	0.83	0.81	0.81	0.37
Profit Before Tax	3.99	4.13	5.22	6.12	9.02
Profit After Tax	3.16	2.86	3.69	4.21	6.08
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	3.16	2.86	3.69	4.21	6.08
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	3.16	2.86	3.69	4.21	6.08

Continuing EPS
Earnings per Share - Basic	8.19p	7.50p	9.76p	11.17p	16.15p
Earnings per Share - Diluted	8.12p	7.43p	9.60p	10.98p	15.62p
Earnings per Share - Adjusted	9.48p	8.34p	10.99p	11.92p	15.13p
Continuing and Discontinued EPS
Earnings per Share - Basic	8.19p	7.50p	9.76p	11.17p	16.15p
Earnings per Share - Diluted	8.12p	7.43p	9.60p	10.98p	15.62p
Earnings per Share - Adjusted	9.48p	8.34p	10.99p	11.92p	15.13p

Dividend per Share	5.00p	6.70p	0.00p	8.50p	8.30p

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	10.02	10.21	10.02	10.52	8.36
Intangible Assets	17.41	18.19	18.64	19.31	12.33
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	0.54	0.11	0.14	0.07	0.12
	27.97	28.51	28.80	29.90	20.81
Current Assets
Inventories	17.87	16.21	12.27	14.37	11.89
Trade & Other Receivables	13.23	13.93	13.47	13.24	10.85
Cash at Bank & in Hand	1.95	4.95	9.00	0.43	0.94
Current Asset Investments	0.10	0.09	0.75	0.00	0.00
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	33.15	35.19	35.49	28.04	23.68

Total Assets	61.12	63.70	64.29	57.94	44.49

Liabilities
Current Liabilities
Borrowings	-3.47	-3.14	-1.72	-5.24	-2.22
Other Current Liabilities	-13.01	-15.43	-15.12	-13.67	-10.42
	-16.48	-18.57	-16.83	-18.91	-12.64

Net Current Assets	16.67	16.62	18.65	9.13	11.04

Non-Current Liabilities
Borrowings	-4.89	-8.03	-10.55	-7.18	-0.04
Provisions	-0.57	-0.34	-0.28	-0.30	-0.35
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-5.46	-8.36	-10.83	-7.48	-0.39

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-21.94	-26.93	-27.66	-26.39	-13.03

Net Assets	39.18	36.77	36.63	31.55	31.46

Capital & Reserves
Share Capital	0.39	0.39	0.38	0.38	0.38
Share Premium Account	6.18	5.64	5.34	5.28	5.28
Other Reserves	1.01	0.73	1.40	0.53	1.68
Retained Earnings	31.60	30.01	29.51	25.37	24.13
Shareholders Funds	39.18	36.77	36.63	31.55	31.46

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	39.18	36.77	36.63	31.55	31.46

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	10.02	12.95	11.49	5.73	12.52
PEG - Adjusted	0.73	-0.54	-1.47	-0.27	-4.33
Earnings per Share Growth - Adjusted	13.67%	-24.11%	-7.80%	-21.22%	-2.89%
Dividend Cover	1.90	1.24	n/a	1.40	1.82
Revenue Per Share	166.85p	166.46p	169.07p	163.21p	147.97p
Pre-Tax Profit per Share	10.33p	10.85p	13.81p	16.23p	23.96p
Operating Margin	7.36%	7.72%	9.40%	11.21%	16.85%
Return on Capital Employed	15.53%	16.47%	19.73%	27.75%	43.20%

Continuing & Discontinued Operations
Dividend Yield	5.26%	6.20%	0.00%	12.45%	4.38%
Dividend per Share Growth	-25.37%	n/a	-100.00%	2.41%	5.06%
Net Asset Value per Share (exc. Intangibles)	55.59p	48.30p	47.34p	32.22p	50.36p
Net Gearing	16.36%	16.89%	8.92%	38.00%	4.20%

Data is provided by Morningstar

HORNBY - Fundamentals