KENZ KENTZ CORPORATION LIMITED ORD 1P

KENTZ Currency GBX Premium Equity Commercial Companies

Income Statement (£ m)	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
Revenue	869.05	879.95	675.32	435.81	441.24
Operating Profit/(Loss)	47.98	42.55	35.99	25.55	22.05
Net Interest	0.57	1.44	0.61	0.11	0.03
Profit Before Tax	64.45	51.12	43.10	27.50	24.70
Profit After Tax	48.68	39.45	31.30	20.60	17.95
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	48.68	39.45	31.30	20.60	17.95
Attributable to:
Minority Interests	-5.79	-1.57	-1.08	-1.56	-1.42
Equity Holders of Parent Company	42.89	37.88	30.22	19.04	16.53

Continuing EPS
Earnings per Share - Basic	36.93p	32.57p	25.97p	16.37p	14.40p
Earnings per Share - Diluted	35.71p	31.52p	25.49p	16.30p	14.40p
Earnings per Share - Adjusted	36.93p	32.57p	25.97p	16.37p	17.21p
Continuing and Discontinued EPS
Earnings per Share - Basic	36.93p	32.57p	25.97p	16.37p	14.40p
Earnings per Share - Diluted	35.71p	31.52p	25.49p	16.30p	14.40p
Earnings per Share - Adjusted	36.93p	32.57p	25.97p	16.37p	17.21p

Dividend per Share	8.20p	7.59p	4.78p	3.86p	0.95p

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	28.72	38.73	44.05	29.35	17.38
Intangible Assets	2.50	2.91	0.00	0.00	0.37
Investment Properties	0.00	0.00	0.00	0.00	0.00
Investments	8.96	2.45	4.79	4.72	1.99
Other Financial Assets	0.00	0.00	0.00	0.00	0.00
Other Non-Current Assets	11.21	3.45	2.54	0.09	1.45
	51.40	47.53	51.37	34.16	21.20
Current Assets
Inventories	82.83	81.46	51.54	15.55	26.85
Trade & Other Receivables	162.86	187.27	145.22	107.14	60.00
Cash at Bank & in Hand	137.38	153.23	147.75	111.50	105.96
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
	383.07	421.96	344.51	234.19	192.81

Total Assets	434.47	469.50	395.88	268.35	214.00

Liabilities
Current Liabilities
Borrowings	-3.10	-3.56	-7.58	-2.36	-1.38
Other Current Liabilities	-242.59	-296.93	-248.06	-162.38	-121.16
	-245.69	-300.49	-255.64	-164.74	-122.54

Net Current Assets	137.38	121.47	88.87	69.45	70.27

Non-Current Liabilities
Borrowings	-1.33	-4.77	-8.91	-5.07	-0.02
Provisions	-0.46	-2.21	-1.98	-0.23	-0.06
Other Non-Current Liabilities	-14.62	-9.09	-7.42	-9.91	-13.06
	-16.42	-16.07	-18.31	-15.22	-13.13

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-262.11	-316.56	-273.95	-179.95	-135.67

Net Assets	172.36	152.93	121.93	88.39	78.33

Capital & Reserves
Share Capital	1.42	1.47	1.46	1.41	1.57
Share Premium Account	26.87	25.46	25.27	24.47	27.14
Other Reserves	2.88	4.47	3.05	1.98	1.64
Retained Earnings	139.76	114.22	86.22	58.78	47.91
Shareholders Funds	170.94	145.62	116.00	86.65	78.25

Minority Interests/Other Equity	1.42	7.31	5.93	1.75	0.08
Total Equity	172.36	152.93	121.93	88.39	78.33

Ratios - based on IFRS	31-Dec-12	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08
Continuing Operations
PE Ratio - Adjusted	10.49	12.96	12.40	12.16	5.90
PEG - Adjusted	0.78	0.51	0.21	-2.49	0.11
Earnings per Share Growth - Adjusted	13.40%	25.40%	58.69%	-4.89%	52.85%
Dividend Cover	4.50	4.29	5.44	4.24	18.04
Revenue Per Share	748.19p	756.54p	580.32p	374.50p	384.35p
Pre-Tax Profit per Share	55.48p	43.95p	37.04p	23.63p	21.52p
Operating Margin	5.47%	4.82%	5.29%	5.77%	4.97%
Return on Capital Employed	35.03%	31.59%	29.95%	26.50%	27.43%

Continuing & Discontinued Operations
Dividend Yield	2.12%	1.80%	1.48%	1.94%	0.94%
Dividend per Share Growth	8.16%	58.85%	23.83%	304.19%	n/a
Net Asset Value per Share (exc. Intangibles)	143.43p	122.64p	99.68p	74.46p	66.92p
Net Gearing	-77.77%	-99.50%	-113.16%	-120.11%	-133.62%

Data is provided by Morningstar

KENTZ - Fundamentals