MPO MACAU PROPERTY OPPORTUNITIES FUND LIMITED ORD USD0.01

MACAU PROPERTY Currency GBX Premium Equity Closed Ended Investment Funds

Income Statement (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
Revenue	0.00	0.00	0.00	0.00	0.00
Operating Profit/(Loss)	6.69	24.53	33.05	-9.25	-8.93
Net Interest	0.98	1.11	1.20	0.00	0.00
Profit Before Tax	3.84	22.70	31.85	-9.25	-8.93
Profit After Tax	3.84	22.70	31.85	-9.25	-8.93
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	3.84	22.70	31.85	-9.25	-8.93
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	3.84	22.70	31.85	-9.25	-8.93

Continuing EPS
Earnings per Share - Basic	3.75p	21.69p	30.33p	-8.81p	-8.51p
Earnings per Share - Diluted	3.75p	21.69p	30.33p	-8.81p	-8.51p
Earnings per Share - Adjusted	3.75p	21.69p	30.33p	-8.81p	-8.51p
Continuing and Discontinued EPS
Earnings per Share - Basic	3.75p	21.69p	30.33p	-8.81p	-8.51p
Earnings per Share - Diluted	3.75p	21.69p	30.33p	-8.81p	-8.51p
Earnings per Share - Adjusted	3.75p	21.69p	30.33p	-8.81p	-8.51p

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

Balance Sheet (£ m)	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Assets
Non-Current Assets
Property, Plant & Equipment	-143.45	-116.54	-106.73	-7.84	0.00
Intangible Assets	0.00	0.00	0.00	0.00	0.00
Investment Properties	143.45	116.54	106.73	7.84	0.00
Investments	4.20	6.81	0.00	0.00	0.00
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	0.00	0.00	0.00	0.00	0.00
	147.66	123.36	106.73	7.84	0.00
Current Assets
Inventories	41.39	51.67	65.03	110.01	52.54
Trade & Other Receivables	0.77	0.75	0.11	0.03	0.03
Cash at Bank & in Hand	23.00	27.30	20.34	28.57	40.46
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
	65.16	79.72	85.48	138.61	93.03

Total Assets	212.82	203.08	192.21	146.45	93.03

Liabilities
Current Liabilities
Borrowings	-2.97	-2.32	-10.94	0.00	0.00
Other Current Liabilities	-4.51	-16.58	-1.79	-51.96	-7.29
	-7.47	-18.90	-12.73	-51.96	-7.29

Net Current Assets	57.69	60.82	72.75	86.65	85.74

Non-Current Liabilities
Borrowings	-62.90	-48.69	-43.75	0.00	0.00
Provisions	0.00	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	-1.03	-0.37	0.00	0.00	0.00
	-63.93	-49.06	-43.75	0.00	0.00

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-71.40	-67.96	-56.48	-51.96	-7.29

Net Assets	141.42	135.12	135.73	94.49	85.74

Capital & Reserves
Share Capital	0.65	0.64	0.70	0.64	0.53
Share Premium Account	0.00	0.00	0.00	0.00	0.00
Other Reserves	104.68	102.98	125.59	114.22	94.41
Retained Earnings	36.08	31.50	9.44	-20.37	-9.20
Shareholders Funds	141.42	135.12	135.73	94.49	85.74

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	141.42	135.12	135.73	94.49	85.74

Ratios - based on IFRS	30-Jun-12	30-Jun-11	30-Jun-10	30-Jun-09	30-Jun-08
Continuing Operations
PE Ratio - Adjusted	28.00	6.23	4.27	-8.63	-11.25
PEG - Adjusted	-0.34	-0.22	-0.01	-2.48	0.00
Earnings per Share Growth - Adjusted	-82.71%	-28.50%	-444.49%	3.48%	3303.60%
Dividend Cover	n/a	n/a	n/a	n/a	n/a
Revenue Per Share	0.00p	0.00p	0.00p	0.00p	0.00p
Pre-Tax Profit per Share	3.75p	21.69p	30.33p	-8.81p	-8.51p
Operating Margin	n/a	n/a	n/a	n/a	n/a
Return on Capital Employed	2.32%	12.80%	17.36%	-9.79%	-10.42%

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)	138.64p	131.44p	129.27p	89.99p	81.66p
Net Gearing	30.31%	17.55%	25.31%	-30.23%	-47.19%

Data is provided by Morningstar

MACAU PROPERTY - Fundamentals