MJW MAJESTIC WINE PLC ORD 7.5P

MAJESTIC WINE Currency GBX

Income Statement (£ m)	02-Apr-12	28-Mar-11	29-Mar-10	30-Mar-09	31-Mar-08
Continuing Operations
Revenue	280.30	257.30	233.22	201.79	197.03
Operating Profit/(Loss)	23.42	20.67	16.47	7.54	16.50
Net Interest	0.25	0.42	0.46	0.22	0.06
Profit Before Tax	23.20	20.27	16.01	7.38	16.70
Profit After Tax	16.72	14.23	11.28	3.26	11.25
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	16.72	14.23	11.28	3.26	11.25
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	16.72	14.23	11.28	3.26	11.25

Continuing EPS
Earnings per Share - Basic	26.50p	23.00p	18.40p	5.30p	17.90p
Earnings per Share - Diluted	26.10p	22.60p	18.30p	5.30p	17.70p
Earnings per Share - Adjusted	26.50p	23.00p	18.40p	14.00p	17.50p
Continuing and Discontinued EPS
Earnings per Share - Basic	26.50p	23.00p	18.40p	5.30p	17.90p
Earnings per Share - Diluted	26.10p	22.60p	18.30p	5.30p	17.70p
Earnings per Share - Adjusted	26.50p	23.00p	18.40p	14.00p	17.50p

Dividend per Share	13.50p	10.80p	9.80p	9.80p	9.00p

Balance Sheet (£ m)	02-Apr-12	28-Mar-11	29-Mar-10	30-Mar-09	31-Mar-08
Assets
Non-Current Assets
Property, Plant & Equipment	60.78	54.27	50.51	47.98	42.76
Intangible Assets	8.36	8.71	9.09	9.48	7.79
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	8.90	11.59	5.15	2.06	1.98
	78.03	74.57	64.74	59.51	52.53
Current Assets
Inventories	51.46	46.56	38.51	37.75	34.60
Trade & Other Receivables	6.86	7.12	6.89	11.53	6.97
Cash at Bank & in Hand	2.95	5.82	4.77	2.57	2.63
Current Asset Investments	0.01	0.51	0.23	0.83	0.31
Other Current Assets	4.16	3.62	2.07	0.00	0.00
	65.43	63.63	52.49	52.69	44.51

Total Assets	143.46	138.20	117.23	112.20	97.04

Liabilities
Current Liabilities
Borrowings	-1.82	-0.87	-3.13	-4.62	-2.74
Other Current Liabilities	-57.00	-55.73	-49.61	-51.47	-43.69
	-58.82	-56.60	-52.73	-56.09	-46.42

Net Current Assets	6.61	7.03	-0.25	-3.40	-1.92

Non-Current Liabilities
Borrowings	0.00	-4.90	-5.58	-6.25	0.00
Provisions	-1.22	-1.45	-1.49	-1.48	-0.45
Other Non-Current Liabilities	-6.96	-10.39	-3.79	-0.77	-0.75
	-8.18	-16.74	-10.85	-8.50	-1.19

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-66.99	-73.34	-63.58	-64.58	-47.62

Net Assets	76.47	64.86	53.65	47.62	49.42

Capital & Reserves
Share Capital	4.76	4.69	4.61	4.61	4.63
Share Premium Account	15.40	12.84	10.55	10.52	10.36
Other Reserves	1.93	2.51	2.84	2.88	1.45
Retained Earnings	54.36	44.82	35.66	29.61	32.99
Shareholders Funds	76.47	64.86	53.65	47.62	49.42

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	76.47	64.86	53.65	47.62	49.42

Ratios - based on IFRS	02-Apr-12	28-Mar-11	29-Mar-10	30-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	15.75	17.28	13.90	11.14	12.69
PEG - Adjusted	1.03	0.69	0.44	-0.56	3.04
Earnings per Share Growth - Adjusted	15.22%	25.00%	31.43%	-20.00%	4.17%
Dividend Cover	1.96	2.13	1.88	1.43	1.94
Revenue Per Share	444.62p	416.08p	379.63p	328.23p	313.53p
Pre-Tax Profit per Share	36.80p	32.78p	26.06p	12.00p	26.58p
Operating Margin	8.07%	7.72%	6.73%	3.42%	8.11%
Return on Capital Employed	32.95%	32.65%	30.09%	15.05%	37.41%

Continuing & Discontinued Operations
Dividend Yield	3.24%	2.72%	3.83%	6.28%	4.05%
Dividend per Share Growth	25.00%	10.20%	0.00%	8.89%	21.62%
Net Asset Value per Share (exc. Intangibles)	107.22p	89.87p	72.49p	62.06p	67.46p
Net Gearing	-1.48%	-0.08%	7.32%	17.41%	0.22%

Data is provided by Morningstar

MAJESTIC WINE - Fundamentals