VP (VP.)

Sector:

Support

655.00p
   
  • Change Today:
      5.00p
  • 52 Week High: 675.00
  • 52 Week Low: 485.00
  • Currency: UK Pounds
  • Shares Issued: 40.15m
  • Volume: 17,635
  • Market Cap: £263.01m
  • RiskGrade: 195

Key Financials

  £ (Millions) £ (Millions) £ (Millions)
Growth Metrics 31-Mar-11 31-Mar-10 31-Mar-09
Annualisation Factor 1.0 1.0 1.0
Dividend Yield 4.6% 5.9% 7.4%
       
Continuing Operations      
PE Ratio - Adjusted 9.0 6.6 4.0
PE Ratio - Diluted 10.1
13.3		 7.5
10.6		 4.1
5.5
PEG - Adjusted n/a n/a n/a
PEG - Diluted n/a
4.4		 n/a
n/a		 n/a
n/a
Return on Capital Employed 13.91%
11.72%		 16.25%
13.34%		 22.13%
18.68%
Operating Margin 10.59%
8.92%		 12.63%
10.37%		 15.57%
13.14%
       
Continuing & Discontinued Operations      
PE Ratio - Adjusted 9.0 6.6 4.0
PE Ratio - Diluted 10.1
13.3		 7.5
10.6		 4.1
5.5
PEG - Adjusted n/a n/a n/a
PEG - Diluted n/a
4.4		 n/a
n/a		 n/a
n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing 31-Mar-11 31-Mar-10 31-Mar-09
Net Gearing 44.27% 57.42% 85.33%

  £ (Millions) £ (Millions) £ (Millions)
Value Metrics 31-Mar-11 31-Mar-10 31-Mar-09
Price/Book Value 1.9 1.7 1.7
Price/Tangible Book Value 1.9 1.7 1.7
Price/ Cash Flow 3.5 2.5 2.4
Price/Revenue 0.70 0.56 0.38
Price/R&D n/a n/a n/a
Net Asset Value per Share (exc. Intangibles) 124.30p 106.86p 86.57p
Net Cash per Share n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Annualised Fundamentals 31-Mar-11 31-Mar-10 31-Mar-09
Continuing Operations      
Revenue 140.96 134.16 157.47
EBITDA 34.44
32.09		 37.17
34.14		 44.40
40.57
Depreciation (19.52)
(19.52)		 (20.22)
(20.22)		 (19.87)
(19.87)
Net Interest (2.69)
(2.69)		 (2.60)
(2.60)		 (3.69)
(3.69)
Profit Before Tax 12.23
9.89		 14.34
11.31		 20.83
17.01
       
Revenue per Share 337.42p 323.18p 378.88p
Pre-Tax Profit per Share 29.29p
23.66p		 34.54p
27.24p		 50.13p
40.93p
Market Capitalisation £ (Millions) 105.68 81.85 66.97
Enterprise Value (EV) £ (Millions) 151.70 131.56 133.36
EBITDA/EV 22.70%
21.16%		 28.25%
25.95%		 33.29%
30.42%
Operating Margin 10.59%
8.92%		 12.63%
10.37%		 15.57%
13.14%
Capital Employed £ (Millions) 107.24 104.28 110.80
Return on Capital Employed 13.91%
11.72%		 16.25%
13.34%		 22.13%
18.68%
Invested Equity Capital £ (Millions) 100.79 94.37 85.59
       
Earnings per Share - Basic 23.42p
17.80p		 24.68p
17.38p		 36.41p
27.21p
Earnings per Share - Diluted 23.24p
17.66p		 24.36p
17.15p		 35.30p
26.38p
Earnings per Share - Adjusted 26.10p 27.57p 36.41p
Earnings per Share Growth - Basic -5%
2%		 -32%
-36%		 n/a
n/a
Earnings per Share Growth - Diluted -5%
3%		 -31%
-35%		 n/a
n/a
Earnings per Share Growth - Adjusted -5% -24% n/a
PE Ratio - Diluted 10.1
13.3		 7.5
10.6		 4.1
5.5
PEG - Diluted n/a
4.4		 n/a
n/a		 n/a
n/a
Tax Rate 20.03% 28.55% 27.36%
Dividend Cover 2.42
1.65		 2.55
1.61		 3.37
2.52
Interest Cover 5.55
4.68		 6.47
5.31		 6.61
5.58
       
Continuing & Discontinued Operations      
Earnings per Share - Basic 23.42p
17.80p		 24.68p
17.38p		 36.41p
27.21p
Earnings per Share - Diluted 23.24p
17.66p		 24.36p
17.15p		 35.30p
26.38p
Earnings per Share - Adjusted 26.10p 27.57p 36.41p
Earnings per Share Growth - Basic -5%
2%		 -32%
-36%		 n/a
n/a
Earnings per Share Growth - Diluted -5%
3%		 -31%
-35%		 n/a
n/a
Earnings per Share Growth - Adjusted -5% -24% n/a
PE Ratio - Diluted 10.1
13.3		 7.5
10.6		 4.1
5.5
PEG - Diluted n/a
4.4		 n/a
n/a		 n/a
n/a
Dividend Cover 2.42
1.65		 2.55
1.61		 3.37
2.52
Return on Equity (ROE) 9.71%
7.38%		 10.86%
7.64%		 17.68%
13.21%
Operating Cash Flow per Share 67.22p 72.48p 60.77p
Gross Cash Flow per Share cn/a cn/a cn/a
Cash Incr/Decr per Share 9.77p 1.95p (10.36p)
Capital Expenditure per Share n/a n/a n/a
Dividend per Share 10.80p 10.80p 10.80p
Dividend per Share Growth n/a n/a n/a
Dividend Yield 4.6% 5.9% 7.4%
Shareholders Funds 91.50 84.16 77.15
Net Borrowings £ (Millions) 40.51 48.33 65.84
Net Asset Value per Share (inc. Intangibles) 124.24p 106.79p 86.51p

  £ (Millions) £ (Millions) £ (Millions)
Gearing - inc Intangibles 31-Mar-11 31-Mar-10 31-Mar-09
Shareholders' Funds inc Intangibles 91.50 84.16 77.15
Net Borrowings £ (Millions) 40.51 48.33 65.84
Net Gearing 44.27% 57.42% 85.33%
Cash & Near Cash 5.51 1.38 0.55
Cash 6.02% 1.65% 0.71%
Gross Borrowings 46.02 49.71 66.39
Gross Gearing 50.30% 59.07% 86.05%
Borrowings Under 5 years 46.02 49.71 66.39
Under 5 years 50.30% 59.07% 86.05%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Gearing - exc Intangibles 31-Mar-11 31-Mar-10 31-Mar-09
Shareholders' Funds exc Intangibles 51.90 44.33 35.96
Net Borrowings £ (Millions) 40.51 48.33 65.84
Net Gearing 78.05% 109.00% 183.11%
Cash & Near Cash 5.51 1.38 0.55
Cash 10.61% 3.12% 1.53%
Gross Borrowings 46.02 49.71 66.39
Gross Gearing 88.67% 112.13% 184.64%
Borrowings Under 5 years 46.02 49.71 66.39
Under 5 years 88.67% 112.13% 184.64%
Borrowings Under 1 year n/a n/a n/a
Under 1 year n/a n/a n/a

  £ (Millions) £ (Millions) £ (Millions)
Cover 31-Mar-11 31-Mar-10 31-Mar-09
Quick Ratio 0.67 0.38 1.00
Current Ratio 0.76 0.43 1.16

Key

* GAAP

a. Includes discontinued activities

b. Based on operating cash flow before tax

c. Not disclosed under IFRS

d. Includes non-current assets

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

Note 3: Above ratios are on a 'per annum' basis, adjusted for corporate actions and based on the fundamentals of the primary listed security.

Note 4: Under IFRS, all figures are based on 'Continuing' operations unless otherwise stated.

Note 5: Normalised ratios are shown in blue text

Note 6: Forecast figures based on normalised accounts.

 

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