NCC NCC GROUP PLC ORD 1P

NCC GRP Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	31-May-12	31-May-11	31-May-10	31-May-09	31-May-08
Continuing Operations
Revenue	87.71	71.00	47.58	46.84	35.75
Operating Profit/(Loss)	11.62	13.47	13.32	11.49	9.22
Net Interest	0.73	0.57	0.26	0.47	0.27
Profit Before Tax	10.57	12.77	12.97	10.87	8.69
Profit After Tax	7.62	9.33	9.27	7.70	6.35
Discontinued Operations
Profit After Tax	0.00	-1.10	0.14	0.00	0.00
PROFIT FOR THE PERIOD	7.62	8.23	9.42	7.70	6.35
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	7.62	8.23	9.42	7.70	6.35

Continuing EPS
Earnings per Share - Basic	22.20p	27.50p	27.50p	22.90p	18.90p
Earnings per Share - Diluted	21.70p	26.70p	26.60p	22.10p	18.30p
Earnings per Share - Adjusted	22.20p	27.50p	27.50p	26.10p	22.40p
Continuing and Discontinued EPS
Earnings per Share - Basic	22.20p	24.30p	27.90p	22.90p	18.90p
Earnings per Share - Diluted	21.70p	23.50p	27.00p	22.10p	18.30p
Earnings per Share - Adjusted	22.20p	24.30p	27.90p	26.10p	22.40p

Dividend per Share	13.95p	11.40p	9.75p	7.75p	5.50p

Balance Sheet (£ m)	31-May-12	31-May-11	31-May-10	31-May-09	31-May-08
Assets
Non-Current Assets
Property, Plant & Equipment	5.07	2.76	2.05	2.13	1.94
Intangible Assets	89.50	93.76	75.25	60.01	51.83
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	1.94	1.15	0.87	0.79	1.15
	96.51	97.66	78.17	62.93	54.92
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	21.35	18.39	16.97	14.79	12.35
Cash at Bank & in Hand	5.45	4.70	4.63	3.36	1.14
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
	26.80	23.09	21.60	18.14	13.49

Total Assets	123.31	120.75	99.77	81.07	68.41

Liabilities
Current Liabilities
Borrowings	0.00	0.00	-16.51	0.00	-4.50
Other Current Liabilities	-32.63	-33.23	-24.13	-25.72	-22.81
	-32.63	-33.23	-40.63	-25.72	-27.31

Net Current Assets	-5.83	-10.14	-19.03	-7.58	-13.82

Non-Current Liabilities
Borrowings	-28.73	-25.39	0.00	-8.93	-0.05
Provisions	-1.34	-1.52	-2.32	-1.59	-1.50
Other Non-Current Liabilities	-0.25	-4.54	-6.55	-0.08	-0.09
	-30.32	-31.44	-8.86	-10.60	-1.65

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-62.95	-64.67	-49.50	-36.31	-28.96

Net Assets	60.36	56.09	50.27	44.75	39.45

Capital & Reserves
Share Capital	0.34	0.34	0.34	0.34	0.34
Share Premium Account	23.24	22.83	21.71	21.63	21.54
Other Reserves	0.04	-0.32	-0.73	-0.10	0.01
Retained Earnings	36.73	33.23	28.96	22.89	17.57
Shareholders Funds	60.36	56.09	50.27	44.75	39.45

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	60.36	56.09	50.27	44.75	39.45

Ratios - based on IFRS	31-May-12	31-May-11	31-May-10	31-May-09	31-May-08
Continuing Operations
PE Ratio - Adjusted	34.46	19.93	14.07	12.76	17.19
PEG - Adjusted	-1.79	n/a	2.63	0.77	0.52
Earnings per Share Growth - Adjusted	-19.27%	0.00%	5.36%	16.52%	33.33%
Dividend Cover	1.59	2.41	2.82	3.37	4.07
Revenue Per Share	256.00p	209.29p	141.23p	139.17p	106.22p
Pre-Tax Profit per Share	30.86p	37.64p	38.49p	32.29p	25.83p
Operating Margin	12.88%	18.77%	27.79%	24.15%	24.85%
Return on Capital Employed	1215.16%	-123.82%	-214.84%	-239.35%	-141.67%

Continuing & Discontinued Operations
Dividend Yield	1.82%	2.08%	2.52%	2.33%	1.43%
Dividend per Share Growth	22.37%	16.92%	25.81%	40.91%	37.50%
Net Asset Value per Share (exc. Intangibles)	-84.86p	-110.59p	-74.13p	-45.32p	-36.82p
Net Gearing	38.57%	36.89%	23.62%	12.46%	8.65%

Data is provided by Morningstar

NCC GRP - Fundamentals