AN. ALTERNATIVE NETWORKS PLC ORD 0.125P

ALTERNATIVE NET Currency GBX

Income Statement (£ m)	30-Sep-12	30-Sep-11	30-Sep-10	30-Sep-09	30-Sep-08
Continuing Operations
Revenue	114.85	117.34	96.24	89.68	93.71
Operating Profit/(Loss)	12.59	9.32	9.14	7.03	8.76
Net Interest	0.01	0.02	0.02	0.02	0.08
Profit Before Tax	12.69	9.36	9.24	7.12	8.90
Profit After Tax	9.79	6.61	6.70	5.09	6.50
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	9.79	6.61	6.70	5.09	6.50
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	-0.00
Equity Holders of Parent Company	9.79	6.61	6.70	5.09	6.50

Continuing EPS
Earnings per Share - Basic	22.10p	15.00p	15.70p	12.00p	14.30p
Earnings per Share - Diluted	19.50p	13.30p	14.50p	11.60p	13.70p
Earnings per Share - Adjusted	25.30p	23.10p	18.00p	14.40p	16.50p
Continuing and Discontinued EPS
Earnings per Share - Basic	22.10p	15.00p	15.70p	12.00p	14.30p
Earnings per Share - Diluted	19.50p	13.30p	14.50p	11.60p	13.70p
Earnings per Share - Adjusted	25.30p	23.10p	18.00p	14.40p	16.50p

Dividend per Share	11.00p	7.10p	5.50p	4.70p	3.80p

Balance Sheet (£ m)	30-Sep-12	30-Sep-11	30-Sep-10	30-Sep-09	30-Sep-08
Assets
Non-Current Assets
Property, Plant & Equipment	2.36	2.31	1.89	2.71	2.20
Intangible Assets	26.28	28.07	21.18	17.76	19.42
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	2.00	1.01	1.03	0.44	1.58
	30.63	31.39	24.10	20.91	23.20
Current Assets
Inventories	0.46	0.46	0.10	0.17	0.38
Trade & Other Receivables	19.00	20.44	13.97	12.54	14.45
Cash at Bank & in Hand	21.36	11.68	12.05	9.02	4.23
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
	40.82	32.58	26.11	21.72	19.06

Total Assets	71.46	63.97	50.21	42.62	42.26

Liabilities
Current Liabilities
Borrowings	-0.05	-0.05	-0.08	-0.05	-0.04
Other Current Liabilities	-30.43	-28.97	-21.41	-18.60	-19.87
	-30.48	-29.02	-21.49	-18.65	-19.90

Net Current Assets	10.34	3.57	4.62	3.06	-0.84

Non-Current Liabilities
Borrowings	-0.72	-0.77	-0.83	-0.87	-0.96
Provisions	-2.33	-2.61	-1.22	-1.09	-1.34
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-3.05	-3.38	-2.05	-1.96	-2.30

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-33.53	-32.40	-23.54	-20.62	-22.20

Net Assets	37.92	31.57	26.68	22.01	20.06

Capital & Reserves
Share Capital	0.06	0.06	0.06	0.06	0.06
Share Premium Account	6.20	5.98	5.02	4.86	4.72
Other Reserves	2.76	1.36	1.29	0.49	0.49
Retained Earnings	28.91	24.17	20.31	16.61	14.79
Shareholders Funds	37.92	31.57	26.68	22.01	20.06

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	37.92	31.57	26.68	22.01	20.06

Ratios - based on IFRS	30-Sep-12	30-Sep-11	30-Sep-10	30-Sep-09	30-Sep-08
Continuing Operations
PE Ratio - Adjusted	8.74	12.08	10.64	7.40	8.09
PEG - Adjusted	0.92	0.43	0.43	-0.58	0.25
Earnings per Share Growth - Adjusted	9.52%	28.33%	25.00%	-12.73%	32.00%
Dividend Cover	2.30	3.25	3.27	3.06	4.34
Revenue Per Share	259.02p	267.20p	225.29p	210.80p	206.69p
Pre-Tax Profit per Share	28.61p	21.31p	21.62p	16.73p	19.63p
Operating Margin	10.96%	7.94%	9.50%	7.84%	9.34%
Return on Capital Employed	86.11%	135.24%	121.38%	113.92%	302.19%

Continuing & Discontinued Operations
Dividend Yield	4.98%	2.54%	2.87%	4.41%	2.85%
Dividend per Share Growth	54.93%	29.09%	17.02%	23.68%	34.28%
Net Asset Value per Share (exc. Intangibles)	24.09p	7.26p	11.58p	9.67p	1.42p
Net Gearing	-54.28%	-34.40%	-41.75%	-36.77%	-16.12%

Data is provided by Morningstar

ALTERNATIVE NET - Fundamentals