BSST BLUESTAR SECUTECH INC ORD NPV (DI)

BLUESTAR Currency GBX

Income Statement (£ m)	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
Revenue	17.50	20.21	18.51	16.10	12.49
Operating Profit/(Loss)	0.52	3.88	2.92	2.00	3.57
Net Interest	0.17	0.02	0.01	0.01	0.00
Profit Before Tax	0.46	3.90	2.96	2.14	3.73
Profit After Tax	0.20	3.14	2.97	2.05	3.69
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	0.20	3.14	2.97	2.05	3.69
Attributable to:
Minority Interests	0.00	0.00	0.00	0.00	0.00
Equity Holders of Parent Company	0.20	3.14	2.97	2.05	3.69

Continuing EPS
Earnings per Share - Basic	0.28p	4.31p	4.07p	2.82p	5.73p
Earnings per Share - Diluted	0.28p	4.31p	4.07p	2.76p	5.65p
Earnings per Share - Adjusted	0.28p	4.31p	4.07p	2.82p	5.73p
Continuing and Discontinued EPS
Earnings per Share - Basic	0.28p	4.31p	4.07p	2.82p	5.73p
Earnings per Share - Diluted	0.28p	4.31p	4.07p	2.76p	5.65p
Earnings per Share - Adjusted	0.28p	4.31p	4.07p	2.82p	5.73p

Dividend per Share	0.78p	0.84p	0.50p	0.96p	0.00p

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	0.54	1.12	1.14	1.15	0.73
Intangible Assets	3.87	3.37	2.66	2.27	1.31
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	0.57	0.24	0.34	0.05	0.00
	4.98	4.73	4.14	3.47	2.05
Current Assets
Inventories	3.43	2.89	2.35	2.40	1.43
Trade & Other Receivables	24.10	20.64	16.94	12.84	6.35
Cash at Bank & in Hand	5.08	5.25	7.09	8.73	8.23
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
	32.61	28.78	26.38	23.97	16.01

Total Assets	37.59	33.51	30.52	27.44	18.05

Liabilities
Current Liabilities
Borrowings	-2.98	-0.29	0.00	0.00	0.00
Other Current Liabilities	-5.38	-4.87	-4.68	-2.87	-1.73
	-8.35	-5.15	-4.68	-2.87	-1.73

Net Current Assets	24.26	23.63	21.70	21.10	14.28

Non-Current Liabilities
Borrowings	0.00	0.00	0.00	0.00	0.00
Provisions	-0.51	-0.38	-0.23	-0.13	-0.03
Other Non-Current Liabilities	-0.20	-0.20	0.00	0.00	0.00
	-0.71	-0.58	-0.23	-0.13	-0.03

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-9.06	-5.73	-4.91	-3.01	-1.77

Net Assets	28.53	27.77	25.62	24.44	16.29

Capital & Reserves
Share Capital	13.38	12.82	13.02	13.81	9.63
Share Premium Account	0.00	0.00	0.00	0.00	0.00
Other Reserves	3.34	2.81	2.49	2.33	1.45
Retained Earnings	11.81	12.15	10.10	8.30	5.22
Shareholders Funds	28.53	27.77	25.62	24.44	16.29

Minority Interests/Other Equity	0.00	0.00	0.00	0.00	0.00
Total Equity	28.53	27.77	25.62	24.44	16.29

Ratios - based on IFRS	31-Mar-12	31-Mar-11	31-Mar-10	31-Mar-09	31-Mar-08
Continuing Operations
PE Ratio - Adjusted	44.64	4.99	5.53	4.08	7.59
PEG - Adjusted	-0.48	0.88	0.12	-0.08	n/a
Earnings per Share Growth - Adjusted	-93.57%	5.67%	44.52%	-50.83%	n/a
Dividend Cover	0.36	5.13	8.15	2.94	n/a
Revenue Per Share	24.03p	27.76p	25.42p	22.11p	19.39p
Pre-Tax Profit per Share	0.63p	5.35p	4.07p	2.94p	5.79p
Operating Margin	2.94%	19.19%	15.79%	12.42%	28.55%
Return on Capital Employed	2.22%	15.61%	12.82%	9.61%	24.83%

Continuing & Discontinued Operations
Dividend Yield	6.24%	3.91%	2.22%	8.35%	0.00%
Dividend per Share Growth	-7.14%	68.00%	-47.92%	n/a	n/a
Net Asset Value per Share (exc. Intangibles)	33.86p	33.51p	31.52p	30.44p	20.57p
Net Gearing	-7.38%	-17.86%	-27.68%	-35.71%	-50.55%

Data is provided by Morningstar

BLUESTAR - Fundamentals