CLL CELLO GROUP PLC ORD 10P

CELLO GROUP Currency GBX

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	135.14	127.71	124.97	123.71	137.63
Operating Profit/(Loss)	2.02	2.03	5.74	-4.91	5.83
Net Interest	0.66	0.63	0.69	0.68	1.13
Profit Before Tax	1.38	1.23	4.93	-5.75	4.20
Profit After Tax	0.16	-0.33	3.62	-5.99	3.19
Discontinued Operations
Profit After Tax	-0.52	0.06	-0.05	-0.33	-0.39
PROFIT FOR THE PERIOD	-0.36	-0.27	3.57	-6.32	2.80
Attributable to:
Minority Interests	-0.03	-0.32	-0.14	-0.04	-0.04
Equity Holders of Parent Company	-0.39	-0.59	3.43	-6.36	2.76

Continuing EPS
Earnings per Share - Basic	0.16p	-0.90p	5.88p	-11.31p	7.35p
Earnings per Share - Diluted	0.16p	-0.89p	5.25p	-11.31p	5.55p
Earnings per Share - Adjusted	6.37p	6.82p	7.67p	7.56p	13.08p
Continuing and Discontinued EPS
Earnings per Share - Basic	-0.49p	-0.81p	5.85p	-11.93p	6.45p
Earnings per Share - Diluted	-0.49p	-0.80p	5.22p	-11.93p	4.87p
Earnings per Share - Adjusted	5.72p	6.91p	7.59p	6.94p	12.18p

Dividend per Share	1.72p	0.91p	1.33p	1.25p	1.25p

Balance Sheet (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Assets
Non-Current Assets
Property, Plant & Equipment	2.29	2.18	2.12	2.52	3.10
Intangible Assets	72.82	76.20	72.27	69.10	78.56
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.02	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.46	0.58	0.96	0.96	1.31
	75.57	78.95	75.36	72.60	82.97
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	29.94	29.13	26.37	25.71	26.66
Cash at Bank & in Hand	4.15	4.17	0.80	3.14	5.07
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
	34.08	33.30	27.17	28.85	31.72

Total Assets	109.65	112.25	102.52	101.44	114.69

Liabilities
Current Liabilities
Borrowings	-0.52	-1.00	-3.27	-14.60	-1.12
Other Current Liabilities	-30.41	-33.48	-31.96	-28.75	-35.32
	-30.93	-34.48	-35.23	-43.35	-36.44

Net Current Assets	3.15	-1.18	-8.06	-14.50	-4.72

Non-Current Liabilities
Borrowings	-12.35	-10.85	-6.30	-0.07	-13.84
Provisions	-0.78	-0.80	-2.63	-3.61	-7.07
Other Non-Current Liabilities	0.00	0.00	-0.12	0.00	-0.44
	-13.12	-11.65	-9.05	-3.67	-21.35

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-44.06	-46.13	-44.28	-47.02	-57.79

Net Assets	65.60	66.12	58.24	54.43	56.90

Capital & Reserves
Share Capital	8.23	7.85	6.16	5.88	4.46
Share Premium Account	18.19	18.10	15.74	34.95	31.75
Other Reserves	28.50	29.16	26.86	10.58	10.57
Retained Earnings	10.64	10.39	9.19	2.90	10.05
Shareholders Funds	65.55	65.51	57.95	54.31	56.82

Minority Interests/Other Equity	0.05	0.61	0.30	0.12	0.08
Total Equity	65.60	66.12	58.24	54.43	56.90

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	5.89	5.10	6.06	4.96	2.87
PEG - Adjusted	-0.89	-0.46	4.15	-0.12	-0.22
Earnings per Share Growth - Adjusted	-6.60%	-11.08%	1.46%	-42.20%	-13.15%
Dividend Cover	3.70	7.54	5.79	6.05	10.46
Revenue Per Share	170.81p	177.05p	211.43p	228.19p	321.33p
Pre-Tax Profit per Share	1.74p	1.71p	8.34p	-10.60p	9.81p
Operating Margin	1.49%	1.44%	4.48%	-4.16%	3.70%
Return on Capital Employed	31.68%	72.13%	-307.11%	-141.11%	1450.00%

Continuing & Discontinued Operations
Dividend Yield	4.59%	2.60%	2.85%	3.33%	3.33%
Dividend per Share Growth	90.06%	-31.70%	6.00%	0.00%	19.05%
Net Asset Value per Share (exc. Intangibles)	-8.86p	-13.65p	-23.32p	-25.27p	-48.86p
Net Gearing	13.30%	11.72%	15.14%	21.22%	17.41%

Data is provided by Morningstar

CELLO GROUP - Fundamentals