SRX SIERRA RUTILE LIMITED COM SHS NPV

SIERRA RUTILE Currency GBX

Income Statement (£ m)	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	31-Dec-07
Continuing Operations
Revenue	35.37	28.05	22.79	33.89	33.79
Operating Profit/(Loss)	-16.64	-9.00	-2.32	-20.79	-4.02
Net Interest	1.96	2.73	2.27	2.98	1.61
Profit Before Tax	-17.79	-8.80	-4.68	-27.68	-8.48
Profit After Tax	-18.01	-8.90	-4.87	-87.29	-8.33
Discontinued Operations
Profit After Tax	0.00	0.00	0.00	0.00	0.00
PROFIT FOR THE PERIOD	-18.01	-8.90	-4.87	-87.29	-8.33
Attributable to:
Minority Interests	0.64	1.01	0.00	0.00	0.00
Equity Holders of Parent Company	-17.36	-7.89	-4.87	-87.29	-8.33

Continuing EPS
Earnings per Share - Basic	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p
Earnings per Share - Diluted	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p
Earnings per Share - Adjusted	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p
Continuing and Discontinued EPS
Earnings per Share - Basic	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p
Earnings per Share - Diluted	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p
Earnings per Share - Adjusted	-3.60p	-2.04p	-1.92p	-35.66p	-3.49p

Dividend per Share	0.00p	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	53.95	59.23	61.36	24.89	17.97
Intangible Assets	5.83	8.42	8.19	9.13	6.55
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	10.84	11.46	15.76	61.70	96.58
	70.63	79.10	85.31	95.71	121.10
Current Assets
Inventories	13.19	8.68	9.95	9.93	7.42
Trade & Other Receivables	14.86	8.41	10.39	16.00	10.85
Cash at Bank & in Hand	6.86	18.12	16.02	5.05	12.82
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
	34.90	35.21	36.36	30.98	31.08

Total Assets	105.53	114.31	121.67	126.69	152.18

Liabilities
Current Liabilities
Borrowings	0.00	-3.25	-0.01	-0.01	-0.07
Other Current Liabilities	-14.87	-10.18	-12.49	-14.41	-8.58
	-14.87	-13.43	-12.49	-14.42	-8.66

Net Current Assets	20.03	21.78	23.87	16.56	22.42

Non-Current Liabilities
Borrowings	-19.76	-27.72	-31.94	-30.91	-21.98
Provisions	-1.59	-2.08	-2.02	-2.24	-1.41
Other Non-Current Liabilities	-0.64	-0.47	-0.41	-0.33	0.00
	-22.00	-30.27	-34.36	-33.48	-23.39

Other Liabilities	n/a	n/a	n/a	n/a	n/a
Total Liabilities	-36.87	-43.70	-46.85	-47.90	-32.04

Net Assets	68.66	70.61	74.82	78.79	120.14

Capital & Reserves
Share Capital	175.41	160.93	155.83	163.23	118.07
Share Premium Account	0.00	0.00	0.00	0.00	0.00
Other Reserves	1.28	0.00	0.00	0.00	0.00
Retained Earnings	-95.76	-78.78	-81.02	-84.44	2.07
Shareholders Funds	80.93	82.15	74.82	78.79	120.14

Minority Interests/Other Equity	-12.27	-11.54	0.00	0.00	0.00
Total Equity	68.66	70.61	74.82	78.79	120.14

Ratios - based on IFRS	31-Dec-11	31-Dec-10	31-Dec-09	31-Dec-08	31-Dec-07
Continuing Operations
PE Ratio - Adjusted	-11.22	n/a	n/a	n/a	n/a
PEG - Adjusted	-0.15	n/a	n/a	n/a	n/a
Earnings per Share Growth - Adjusted	76.27%	6.62%	-94.62%	922.66%	n/a
Dividend Cover	n/a	n/a	n/a	n/a	n/a
Revenue Per Share	7.32p	7.27p	8.85p	13.80p	14.43p
Pre-Tax Profit per Share	-3.68p	-2.28p	-1.82p	-11.27p	-3.62p
Operating Margin	-44.80%	-21.78%	-27.96%	-73.77%	-23.53%
Return on Capital Employed	-18.66%	-6.33%	-2.38%	-23.95%	-5.01%

Continuing & Discontinued Operations
Dividend Yield	0.00%	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)	14.75p	19.11p	17.27p	29.69p	46.30p
Net Gearing	15.94%	15.64%	21.28%	32.83%	7.68%

Data is provided by Morningstar

SIERRA RUTILE - Fundamentals