CFC CHINA FOOD COMPANY PLC ORD 4P

CHINA FOOD CO. Currency GBX

Income Statement (£ m)	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	31-Dec-07
Continuing Operations
Revenue	40.23	35.89	30.14	38.22	25.27
Operating Profit/(Loss)	0.97	3.96	3.13	7.78	7.69
Net Interest	1.20	0.73	0.43	0.30	0.25
Profit Before Tax	-0.34	3.75	2.82	7.51	7.52
Profit After Tax	-0.71	2.32	1.71	5.24	5.33
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	-0.71	2.32	1.71	5.24	5.33
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	-0.71	2.32	1.71	5.24	5.33

Continuing EPS
Earnings per Share - Basic	-1.01p	3.49p	2.57p	7.89p	14.45p
Earnings per Share - Diluted	-1.01p	3.48p	2.57p	7.89p	14.45p
Earnings per Share - Adjusted	-1.01p	3.49p	2.57p	7.89p	8.03p
Continuing and Discontinued EPS
Earnings per Share - Basic	-1.01p	3.49p	2.57p	7.89p	14.45p
Earnings per Share - Diluted	-1.01p	3.48p	2.57p	7.89p	14.45p
Earnings per Share - Adjusted	-1.01p	3.49p	2.57p	7.89p	8.03p

Dividend per Share	0.13p	0.00p	0.00p	0.00p	0.00p

Balance Sheet (£ m)	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	31-Dec-07
Assets
Non-Current Assets
Property, Plant & Equipment	40.79	39.44	3.80	4.51	3.27
Intangible Assets	0.00	0.00	0.00	0.00	0.00
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	9.72	8.37	34.88	34.24	14.30
	50.51	47.82	38.68	38.75	17.57
Current Assets
Inventories	6.21	3.00	1.33	1.32	0.58
Trade & Other Receivables	4.55	0.94	0.60	0.72	0.69
Cash at Bank & in Hand	6.58	2.92	3.25	4.41	7.27
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
	17.34	6.86	5.18	6.45	8.54

Total Assets	67.85	54.68	43.85	45.20	26.11

Liabilities
Current Liabilities
Borrowings	-14.87	-1.67	-2.69	-2.96	-1.89
Other Current Liabilities	-10.21	-8.00	-4.76	-5.84	-4.72
	-25.08	-9.67	-7.45	-8.80	-6.60

Net Current Assets	-7.74	-2.81	-2.27	-2.35	1.94

Non-Current Liabilities
Borrowings	-3.77	-10.52	-6.36	-5.13	-2.55
Provisions	-0.11	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-3.88	-10.52	-6.36	-5.13	-2.55

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-28.96	-20.19	-13.80	-13.93	-9.15

Net Assets	38.90	34.49	30.05	31.27	16.96

Capital & Reserves
Share Capital	3.16	2.80	2.77	2.71	2.66
Share Premium Account	24.97	25.68	25.68	25.68	25.68
Other Reserves	-7.14	-10.17	-12.69	-10.03	-19.58
Retained Earnings	17.90	16.18	14.29	12.91	8.21
Shareholders Funds	38.90	34.49	30.05	31.27	16.96

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	38.90	34.49	30.05	31.27	16.96

Ratios - based on IFRS	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	31-Dec-07
Continuing Operations
PE Ratio - Adjusted	-23.76	14.47	9.34	3.74	6.72
PEG - Adjusted	0.18	0.40	-0.14	-2.15	n/a
Earnings per Share Growth - Adjusted	-128.94%	35.80%	-67.43%	-1.74%	n/a
Dividend Cover	-7.77	n/a	n/a	n/a	n/a
Revenue Per Share	57.66p	54.05p	45.39p	57.55p	68.45p
Pre-Tax Profit per Share	-0.48p	5.65p	4.25p	11.30p	20.37p
Operating Margin	2.08%	12.42%	10.76%	20.23%	30.65%
Return on Capital Employed	1.49%	9.60%	8.32%	19.84%	36.30%

Continuing & Discontinued Operations
Dividend Yield	0.54%	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)	54.44p	51.94p	45.26p	47.09p	25.53p
Net Gearing	30.99%	26.88%	19.28%	11.77%	-16.71%

Data is provided by Morningstar

CHINA FOOD CO. - Fundamentals