HICL HICL INFRASTRUCTURE COMPANY LD ORD 0.01P

HICL INF. Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	n/a	n/a	n/a	n/a	n/a
Operating Profit/(Loss)	n/a	n/a	n/a	n/a	n/a
Net Interest	n/a	n/a	n/a	n/a	n/a
Profit Before Tax	n/a	n/a	n/a	n/a	n/a
Profit After Tax	29.50	25.30	24.60	11.90	7.40
Discontinued Operations
Profit After Tax	n/a	n/a	n/a	n/a	n/a
PROFIT FOR THE PERIOD	29.50	25.30	24.60	11.90	7.40
Attributable to:
Minority Interests	n/a	n/a	n/a	n/a	n/a
Equity Holders of Parent Company	29.50	25.30	24.60	11.90	7.40

Continuing EPS
Earnings per Share - Basic	4.66p	5.02p	6.48p	3.66p	2.96p
Earnings per Share - Diluted	4.66p	5.02p	6.48p	3.66p	2.96p
Earnings per Share - Adjusted	4.66p	5.02p	6.48p	3.66p	2.96p
Continuing and Discontinued EPS
Earnings per Share - Basic	n/a	n/a	n/a	n/a	n/a
Earnings per Share - Diluted	n/a	n/a	n/a	n/a	n/a
Earnings per Share - Adjusted	n/a	n/a	n/a	n/a	n/a

Dividend per Share	6.78p	6.63p	6.48p	6.33p	6.28p

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	n/a	n/a	n/a	n/a	n/a
Intangible Assets	n/a	n/a	n/a	n/a	n/a
Investment Properties	n/a	n/a	n/a	n/a	n/a
Investments	524.30	396.30	307.40	280.10	384.70
Other Financial Assets	n/a	n/a	n/a	n/a	n/a
Other Non-Current Assets	2224.30	957.90	979.30	838.30	206.40
	2748.60	1354.20	1286.70	1118.40	591.10
Current Assets
Inventories	n/a	n/a	n/a	n/a	n/a
Trade & Other Receivables	60.40	33.20	28.70	20.10	9.10
Cash at Bank & in Hand	373.70	114.90	67.10	54.20	27.20
Current Asset Investments	0.00	29.70	0.00	0.00	0.00
Other Current Assets	n/a	n/a	n/a	n/a	n/a
	434.10	177.80	95.80	74.30	36.30

Total Assets	3182.70	1532.00	1382.50	1192.70	627.40

Liabilities
Current Liabilities
Borrowings	n/a	n/a	n/a	n/a	n/a
Other Current Liabilities	n/a	n/a	n/a	n/a	n/a
	240.900	61.100	51.300	38.600	29.700

Net Current Assets	193.20	116.70	44.50	35.70	6.60

Non-Current Liabilities
Borrowings	n/a	n/a	n/a	n/a	n/a
Provisions	n/a	n/a	n/a	n/a	n/a
Other Non-Current Liabilities	n/a	n/a	n/a	n/a	n/a
	1908.50	804.00	831.80	773.90	291.90

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	2149.40	865.10	883.10	812.50	321.60

Net Assets	1033.30	666.90	499.40	380.20	305.80

Capital & Reserves
Share Capital	1033.30	666.90	499.40	380.20	305.80
Share Premium Account	n/a	n/a	n/a	n/a	n/a
Other Reserves	n/a	n/a	n/a	n/a	n/a
Retained Earnings	n/a	n/a	n/a	n/a	n/a
Shareholders Funds	1033.30	666.90	499.40	380.20	305.80

Minority Interests/Other Equity	n/a	n/a	n/a	n/a	n/a
Total Equity	1033.30	666.90	499.40	380.20	305.80

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	25.85	23.55	18.19	30.74	n/a
PEG - Adjusted	-3.62	-1.04	0.24	1.30	n/a
Earnings per Share Growth - Adjusted	-7.14%	-22.63%	77.10%	23.65%	-17.78%
Dividend Cover	0.69	0.76	1.00	0.58	0.47
Revenue Per Share	n/a	n/a	n/a	n/a	n/a
Pre-Tax Profit per Share	n/a	n/a	n/a	n/a	n/a
Operating Margin	n/a	n/a	n/a	n/a	n/a
Return on Capital Employed	n/a	n/a	n/a	n/a	n/a

Continuing & Discontinued Operations
Dividend Yield	5.63%	5.61%	5.49%	5.62%	n/a
Dividend per Share Growth	2.26%	2.32%	2.37%	0.80%	117.88%
Net Asset Value per Share (exc. Intangibles)	155.28p	112.06p	109.93p	112.39p	122.32p
Net Gearing	n/a	n/a	n/a	n/a	n/a

Data is provided by Morningstar

HICL INF. - Fundamentals