BLV BELVOIR LETTINGS PLC ORD 1P

BELVOIR Currency GBX

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	4.05	3.35	3.26	3.03	3.38
Operating Profit/(Loss)	1.42	1.44	1.55	1.36	1.08
Net Interest	0.08	0.10	0.06	0.08	0.19
Profit Before Tax	1.39	1.35	1.43	1.21	0.93
Profit After Tax	1.18	0.89	1.03	0.87	0.65
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	1.18	0.89	1.03	0.87	0.65
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	1.18	0.89	1.03	0.87	0.65

Continuing EPS
Earnings per Share - Basic	6.30p	8.10p	4.96p	4.21p	3.14p
Earnings per Share - Diluted	6.30p	8.10p	4.96p	4.21p	3.14p
Earnings per Share - Adjusted	8.90p	11.70p	4.96p	4.21p	3.14p
Continuing and Discontinued EPS
Earnings per Share - Basic	6.30p	8.10p	4.96p	4.21p	3.14p
Earnings per Share - Diluted	6.30p	8.10p	4.96p	4.21p	3.14p
Earnings per Share - Adjusted	8.90p	11.70p	4.96p	4.21p	3.14p

Dividend per Share	2.90p	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	0.48	0.42	0.45	0.48	0.50
Intangible Assets	0.86	0.04	1.06	1.07	1.11
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	0.59	0.09	0.05	0.07	0.07
	1.92	0.56	1.56	1.62	1.68
Current Assets
Inventories	0.00	0.00	0.00	0.00	0.00
Trade & Other Receivables	0.86	0.46	0.39	0.34	0.45
Cash at Bank & in Hand	1.84	0.87	0.60	0.61	0.33
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
	2.70	1.33	0.98	0.95	0.78

Total Assets	4.62	1.89	2.54	2.57	2.45

Liabilities
Current Liabilities
Borrowings	-0.46	-0.47	-0.50	-0.46	-0.42
Other Current Liabilities	-0.94	-5.43	-0.84	-0.71	-0.63
	-1.40	-5.90	-1.34	-1.17	-1.05

Net Current Assets	1.30	-4.57	-0.36	-0.22	-0.27

Non-Current Liabilities
Borrowings	-0.79	-1.23	-0.63	-1.12	-1.56
Provisions	-0.12	-0.01	-0.01	-0.02	-0.02
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00
	-0.91	-1.24	-0.64	-1.14	-1.58

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-2.31	-7.14	-1.98	-2.30	-2.63

Net Assets	2.31	-5.25	0.56	0.27	-0.17

Capital & Reserves
Share Capital	0.21	0.11	0.00	0.00	0.00
Share Premium Account	6.77	0.00	0.00	0.00	0.00
Other Reserves	-5.61	-5.55	0.56	0.27	-0.17
Retained Earnings	0.94	0.19	0.00	0.00	0.00
Shareholders Funds	2.31	-5.25	0.56	0.27	-0.17

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	2.31	-5.25	0.56	0.27	-0.17

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	15.39	n/a	n/a	n/a	n/a
PEG - Adjusted	-0.64	n/a	n/a	n/a	n/a
Earnings per Share Growth - Adjusted	-23.93%	135.93%	17.71%	34.17%	n/a
Dividend Cover	3.07	n/a	n/a	n/a	n/a
Revenue Per Share	21.56p	30.61p	15.77p	14.67p	16.37p
Pre-Tax Profit per Share	7.42p	12.36p	6.91p	5.86p	4.49p
Operating Margin	36.29%	43.42%	45.58%	42.41%	32.22%
Return on Capital Employed	52.04%	-40.65%	231.83%	164.03%	155.22%

Continuing & Discontinued Operations
Dividend Yield	2.12%	n/a	n/a	n/a	n/a
Dividend per Share Growth	n/a	n/a	n/a	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	7.03p	-48.31p	-2.40p	-3.91p	-6.18p
Net Gearing	-25.58%	-15.78%	94.99%	367.17%	-959.88%

Data is provided by Morningstar

BELVOIR - Fundamentals