BWNG BROWN (N) GROUP PLC ORD 11 1/19P

BROWN(N.) GRP. Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	03-Mar-12	26-Feb-11	27-Feb-10	28-Feb-09	01-Mar-08
Continuing Operations
Revenue	753.20	718.80	690.00	662.50	610.90
Operating Profit/(Loss)	102.00	102.60	97.60	95.50	91.80
Net Interest	6.80	4.60	4.00	13.40	16.60
Profit Before Tax	96.90	94.50	85.70	92.30	78.00
Profit After Tax	81.00	71.70	62.50	62.10	55.80
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.30
PROFIT FOR THE PERIOD	81.00	71.70	62.50	62.10	56.10
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	81.00	71.70	62.50	62.10	56.10

Continuing EPS
Earnings per Share - Basic	29.28p	26.04p	22.83p	22.88p	20.75p
Earnings per Share - Diluted	29.24p	26.00p	22.79p	22.82p	20.67p
Earnings per Share - Adjusted	28.91p	27.02p	24.77p	21.96p	19.75p
Continuing and Discontinued EPS
Earnings per Share - Basic	29.28p	26.04p	22.83p	22.88p	21.16p
Earnings per Share - Diluted	29.24p	26.00p	22.79p	22.82p	21.08p
Earnings per Share - Adjusted	28.91p	27.02p	24.77p	21.96p	19.86p

Dividend per Share	12.66p	11.45p	10.79p	9.19p	7.99p

Balance Sheet (£ m)	03-Mar-12	26-Feb-11	27-Feb-10	28-Feb-09	01-Mar-08
Assets
Non-Current Assets
Property, Plant & Equipment	65.40	67.40	66.90	75.00	70.50
Intangible Assets	62.80	52.20	36.30	32.80	30.90
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	3.70	8.50	5.60	6.70	9.10
	131.90	128.10	108.80	114.50	110.50
Current Assets
Inventories	82.60	78.10	62.40	69.80	68.10
Trade & Other Receivables	522.00	490.80	461.30	451.50	402.00
Cash at Bank & in Hand	57.50	49.10	59.90	51.70	50.80
Current Asset Investments	0.00	0.00	2.30	9.70	0.10
Other Current Assets	0.00	0.00	0.00	0.00	0.00
	662.10	618.00	585.90	582.70	521.00

Total Assets	794.00	746.10	694.70	697.20	631.50

Liabilities
Current Liabilities
Borrowings	0.00	-40.00	0.00	0.00	-0.20
Other Current Liabilities	-129.60	-144.70	-129.50	-119.90	-119.90
	-129.60	-184.70	-129.50	-119.90	-120.10

Net Current Assets	532.50	433.30	456.40	462.80	400.90

Non-Current Liabilities
Borrowings	-250.00	-190.00	-230.00	-270.00	-250.00
Provisions	-11.10	-11.00	-14.40	-20.30	-12.40
Other Non-Current Liabilities	-1.00	0.00	-1.80	-4.00	-5.80
	-262.10	-201.00	-246.20	-294.30	-268.20

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-391.70	-385.70	-375.70	-414.20	-388.30

Net Assets	402.30	360.40	319.00	283.00	243.20

Capital & Reserves
Share Capital	31.30	31.00	30.80	30.30	30.00
Share Premium Account	11.00	11.00	11.00	11.00	11.00
Other Reserves	0.40	0.90	2.30	2.70	1.10
Retained Earnings	359.60	317.50	274.90	239.00	201.10
Shareholders Funds	402.30	360.40	319.00	283.00	243.20

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	402.30	360.40	319.00	283.00	243.20

Ratios - based on IFRS	03-Mar-12	26-Feb-11	27-Feb-10	28-Feb-09	01-Mar-08
Continuing Operations
PE Ratio - Adjusted	8.26	10.17	8.70	9.10	12.68
PEG - Adjusted	1.18	1.12	0.68	0.81	0.52
Earnings per Share Growth - Adjusted	6.99%	9.08%	12.80%	11.19%	24.53%
Dividend Cover	2.28	2.36	2.30	2.39	2.47
Revenue Per Share	272.23p	261.08p	252.03p	244.09p	227.21p
Pre-Tax Profit per Share	35.02p	34.32p	31.30p	34.01p	29.01p
Operating Margin	13.75%	13.76%	12.99%	15.80%	15.24%
Return on Capital Employed	17.24%	18.04%	16.96%	19.41%	19.68%

Continuing & Discontinued Operations
Dividend Yield	5.30%	4.17%	5.00%	4.60%	3.19%
Dividend per Share Growth	10.57%	6.12%	17.41%	15.02%	20.33%
Net Asset Value per Share (exc. Intangibles)	119.78p	109.90p	101.54p	91.28p	78.25p
Net Gearing	47.85%	50.19%	53.32%	77.14%	81.99%

Data is provided by Morningstar

BWNG BROWN (N) GROUP PLC ORD 11 1/19P

BROWN(N.) GRP. - Fundamentals