LMS LMS CAPITAL PLC ORD 10P

LMS CAPITAL Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	60.76	47.33	38.13	29.82	19.79
Operating Profit/(Loss)	-10.94	0.57	27.82	-11.15	-56.08
Net Interest	0.76	0.94	1.16	0.33	0.22
Profit Before Tax	-11.69	-0.37	26.66	-11.47	-56.30
Profit After Tax	-12.90	-0.97	25.09	-12.40	-56.88
Discontinued Operations
Profit After Tax	0.00	-1.07	-10.54	-2.35	1.32
PROFIT FOR THE PERIOD	-12.90	-2.04	14.55	-14.75	-55.56
Attributable to:
Minority Interests	-0.06	-0.70	-1.55	-0.40	0.19
Equity Holders of Parent Company	-12.95	-2.74	13.00	-15.15	-55.37

Continuing EPS
Earnings per Share - Basic	-4.80p	-0.60p	5.00p	-4.70p	-20.10p
Earnings per Share - Diluted	-4.80p	-0.60p	4.90p	-4.70p	-20.10p
Earnings per Share - Adjusted	-4.80p	-0.60p	5.00p	-4.70p	-20.10p
Continuing and Discontinued EPS
Earnings per Share - Basic	-4.80p	0.20p	4.00p	-5.60p	-2.10p
Earnings per Share - Diluted	-4.80p	0.20p	3.90p	-5.60p	-2.40p
Earnings per Share - Adjusted	-4.80p	0.20p	1.13p	-5.60p	-19.63p

Dividend per Share	0.00p	0.00p	0.00p	0.00p	0.00p

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	7.37	6.93	9.49	7.06	3.22
Intangible Assets	36.69	33.38	28.12	29.53	26.80
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	144.42	185.20	220.70	188.13	179.55
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.07	0.02	0.04	0.08	0.02
	188.55	225.53	258.36	224.80	209.58
Current Assets
Inventories	1.98	0.20	1.85	0.81	0.32
Trade & Other Receivables	14.75	14.88	12.82	10.77	8.31
Cash at Bank & in Hand	26.83	34.86	13.23	16.95	42.62
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
	43.56	49.94	27.90	28.53	51.24

Total Assets	232.11	275.47	286.26	253.33	260.82

Liabilities
Current Liabilities
Borrowings	-3.71	-2.42	-18.81	-2.76	-1.66
Other Current Liabilities	-27.30	-18.79	-21.15	-17.63	-14.17
	-31.01	-21.21	-39.96	-20.40	-15.83

Net Current Assets	12.55	28.73	-12.06	8.14	35.42

Non-Current Liabilities
Borrowings	-11.62	-9.41	-4.60	-4.80	-1.17
Provisions	-1.92	-2.69	-0.61	-0.40	-0.04
Other Non-Current Liabilities	-1.99	-1.78	-2.26	-2.12	-2.70
	-15.53	-13.87	-7.47	-7.31	-3.91

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-46.54	-35.08	-47.43	-27.71	-19.74

Net Assets	185.57	240.39	238.83	225.62	241.08

Capital & Reserves
Share Capital	22.63	27.27	27.27	27.27	27.27
Share Premium Account	0.51	0.02	0.00	0.00	0.00
Other Reserves	95.15	90.83	90.62	90.73	90.93
Retained Earnings	64.64	118.79	117.83	106.77	122.74
Shareholders Funds	182.92	236.91	235.71	224.77	240.94

Minority Interests/Other Equity	2.65	3.48	3.12	0.85	0.15
Total Equity	185.57	240.39	238.83	225.62	241.08

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	-13.65	-92.71	9.00	-11.06	-2.26
PEG - Adjusted	-0.02	0.83	-0.04	0.14	0.00
Earnings per Share Growth - Adjusted	700.00%	-112.00%	-206.38%	-76.62%	3920.00%
Dividend Cover	n/a	n/a	n/a	n/a	n/a
Revenue Per Share	22.55p	17.36p	13.99p	10.94p	7.02p
Pre-Tax Profit per Share	-4.34p	-0.14p	9.78p	-4.21p	-19.98p
Operating Margin	-18.86%	-1.39%	72.87%	-51.79%	-130.88%
Return on Capital Employed	-6.58%	0.26%	11.85%	-5.46%	-25.82%

Continuing & Discontinued Operations
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%
Dividend per Share Growth	n/a	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	64.63p	74.64p	76.14p	71.61p	78.54p
Net Gearing	-6.29%	-9.72%	4.32%	-4.18%	-16.51%

Data is provided by Morningstar

LMS CAPITAL - Fundamentals