MAYG MAY GURNEY INTEGRATED SERVICES PLC ORD 5P

MAY GURNEY Currency GBX

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	695.30	571.40	483.10	470.30	437.00
Operating Profit/(Loss)	21.00	19.60	18.90	5.50	15.90
Net Interest	2.00	1.20	0.90	1.00	0.40
Profit Before Tax	19.30	18.80	18.40	5.20	17.00
Profit After Tax	13.80	13.30	13.10	2.60	11.80
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	13.80	13.30	13.10	2.60	11.80
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	13.80	13.30	13.10	2.60	11.80

Continuing EPS
Earnings per Share - Basic	20.52p	19.82p	19.58p	3.93p	18.23p
Earnings per Share - Diluted	19.91p	19.34p	19.25p	3.89p	17.26p
Earnings per Share - Adjusted	29.47p	24.77p	21.92p	20.50p	18.51p
Continuing and Discontinued EPS
Earnings per Share - Basic	20.52p	19.82p	19.58p	3.93p	18.23p
Earnings per Share - Diluted	19.91p	19.34p	19.25p	3.89p	17.26p
Earnings per Share - Adjusted	29.47p	24.77p	21.92p	20.50p	18.51p

Dividend per Share	7.31p	5.78p	5.20p	4.83p	3.60p

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	92.40	39.20	25.70	21.90	13.90
Intangible Assets	79.10	53.50	40.80	44.00	44.80
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	0.00	0.90	1.10	0.10	1.40
	171.50	93.60	67.60	66.00	60.10
Current Assets
Inventories	4.50	4.40	2.70	2.40	2.30
Trade & Other Receivables	112.20	110.40	81.40	78.40	77.80
Cash at Bank & in Hand	31.00	36.20	43.40	34.20	27.90
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
	147.70	151.00	127.50	115.00	108.00

Total Assets	319.20	244.60	195.10	181.00	168.10

Liabilities
Current Liabilities
Borrowings	-36.90	-7.30	-5.60	-5.00	-1.80
Other Current Liabilities	-144.30	-134.70	-106.30	-101.60	-95.20
	-181.20	-142.00	-111.90	-106.60	-97.00

Net Current Assets	-33.50	9.00	15.60	8.40	11.00

Non-Current Liabilities
Borrowings	-43.30	-18.00	-8.60	-10.60	-5.10
Provisions	-1.70	-0.10	-0.10	-0.30	-0.10
Other Non-Current Liabilities	-0.40	-0.40	-1.10	0.00	0.00
	-45.40	-18.50	-9.80	-10.90	-5.20

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-226.60	-160.50	-121.70	-117.50	-102.20

Net Assets	92.60	84.10	73.40	63.50	65.90

Capital & Reserves
Share Capital	3.50	3.50	3.50	3.50	3.50
Share Premium Account	13.20	13.20	13.20	13.20	13.20
Other Reserves	3.30	3.30	3.30	3.30	3.40
Retained Earnings	72.60	64.10	53.40	43.50	45.80
Shareholders Funds	92.60	84.10	73.40	63.50	65.90

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	92.60	84.10	73.40	63.50	65.90

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	9.30	10.50	10.72	6.34	13.75
PEG - Adjusted	0.49	0.81	1.55	0.59	1.49
Earnings per Share Growth - Adjusted	18.97%	13.00%	6.93%	10.75%	9.20%
Dividend Cover	4.03	4.29	4.22	4.25	5.14
Revenue Per Share	1033.96p	851.39p	721.11p	710.51p	675.25p
Pre-Tax Profit per Share	28.70p	28.01p	27.47p	7.86p	26.27p
Operating Margin	3.03%	3.43%	3.91%	1.15%	3.68%
Return on Capital Employed	22.23%	35.46%	40.21%	17.51%	61.92%

Continuing & Discontinued Operations
Dividend Yield	2.67%	2.22%	2.21%	3.71%	1.41%
Dividend per Share Growth	26.47%	11.15%	7.77%	34.03%	300.00%
Net Asset Value per Share (exc. Intangibles)	19.22p	43.57p	46.41p	27.76p	30.04p
Net Gearing	53.13%	-12.96%	-39.78%	-29.29%	-31.87%

Data is provided by Morningstar

MAY GURNEY - Fundamentals