£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Growth Metrics | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Annualisation Factor | 1.0 | 1.0 | 1.0 | 1.0 |
Dividend Yield | 0.7% | 0.0% | 0.0% | 1.9% |
Continuing Operations | ||||
PE Ratio - Adjusted | 10.4 | 11.2 | 5.6 | 8.9 |
PE Ratio - Diluted | 11.8 12.5 |
14.0 12.2 |
6.9 5.9 |
10.3 10.5 |
PEG - Adjusted | 0.1 | n/a | n/a | n/a |
PEG - Diluted | 0.1 0.2 |
n/a n/a |
n/a n/a |
n/a n/a |
Return on Capital Employed | 8.56% 8.23% |
4.01% 4.48% |
11.48% 12.30% |
15.57% 15.41% |
Operating Margin | 4.78% 4.59% |
2.77% 3.10% |
6.45% 6.91% |
6.23% 6.16% |
Continuing & Discontinued Operations | ||||
PE Ratio - Adjusted | 10.4 | 11.2 | 5.6 | 8.9 |
PE Ratio - Diluted | 11.8 12.5 |
14.0 12.2 |
6.9 5.9 |
10.3 10.5 |
PEG - Adjusted | 0.1 | n/a | n/a | n/a |
PEG - Diluted | 0.1 0.2 |
n/a n/a |
n/a n/a |
n/a n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Net Gearing | 28.93% | 36.13% | 48.17% | 66.80% |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Value Metrics | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Price/Book Value | 1.4 | 0.9 | 0.9 | 2.8 |
Price/Tangible Book Value | 1.4 | 0.9 | 0.9 | 2.8 |
Price/ Cash Flow | 5.6 | 2.4 | (19.9) | 10.0 |
Price/Revenue | 0.41 | 0.30 | 0.20 | 0.28 |
Price/R&D | n/a | n/a | n/a | n/a |
Net Asset Value per Share (exc. Intangibles) | 41.73p | 36.87p | 40.51p | 23.53p |
Net Cash per Share | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Annualised Fundamentals | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Continuing Operations | ||||
Revenue | 36.26 | 28.58 | 37.56 | 41.25 |
EBITDA | 3.31 3.24 |
2.52 2.61 |
4.12 4.29 |
4.08 4.05 |
Depreciation | (1.57) (1.57) |
(1.73) (1.73) |
(1.70) (1.70) |
(1.51) (1.51) |
Net Interest | (0.31) (0.31) |
(0.32) (0.32) |
(0.59) (0.59) |
(0.87) (0.87) |
Profit Before Tax | 1.42 1.36 |
0.47 0.56 |
1.83 2.00 |
1.69 1.67 |
Revenue per Share | 142.30p | 112.16p | 171.24p | 234.29p |
Pre-Tax Profit per Share | 5.58p 5.32p |
1.84p 2.21p |
8.34p 9.13p |
9.62p 9.47p |
Market Capitalisation £ (Millions) | 14.78 | 8.54 | 8.92 | 11.64 |
Enterprise Value (EV) £ (Millions) | 22.99 | 17.40 | 19.38 | 22.79 |
EBITDA/EV | 14.38% 14.09% |
14.47% 15.01% |
21.26% 22.15% |
17.91% 17.79% |
Operating Margin | 4.78% 4.59% |
2.77% 3.10% |
6.45% 6.91% |
6.23% 6.16% |
Capital Employed £ (Millions) | 20.24 | 19.74 | 21.10 | 16.49 |
Return on Capital Employed | 8.56% 8.23% |
4.01% 4.48% |
11.48% 12.30% |
15.57% 15.41% |
Invested Equity Capital £ (Millions) | 24.13 | 23.10 | 22.50 | 17.17 |
Earnings per Share - Basic | 4.90p 4.69p |
2.40p 2.75p |
5.10p 5.93p |
6.50p 6.35p |
Earnings per Share - Diluted | 4.90p 4.64p |
2.40p 2.75p |
5.10p 5.93p |
6.40p 6.29p |
Earnings per Share - Adjusted | 5.60p | 3.00p | 6.20p | 7.40p |
Earnings per Share Growth - Basic | 104% 70% |
-53% -54% |
-22% -7% |
n/a n/a |
Earnings per Share Growth - Diluted | 104% 69% |
-53% -54% |
-20% -6% |
n/a n/a |
Earnings per Share Growth - Adjusted | 87% | -52% | -16% | n/a |
PE Ratio - Diluted | 11.8 12.5 |
14.0 12.2 |
6.9 5.9 |
10.3 10.5 |
PEG - Diluted | 0.1 0.2 |
n/a n/a |
n/a n/a |
n/a n/a |
Tax Rate | 11.32% | (29.15%) | 38.33% | 32.41% |
Dividend Cover | 14.00 11.71 |
n/a n/a |
n/a n/a |
5.92 5.08 |
Interest Cover | 5.59 5.37 |
2.42 2.70 |
4.07 4.36 |
2.93 2.89 |
Continuing & Discontinued Operations | ||||
Earnings per Share - Basic | 4.90p 4.69p |
2.40p 2.75p |
5.10p 5.93p |
6.50p 6.35p |
Earnings per Share - Diluted | 4.90p 4.64p |
2.40p 2.75p |
5.10p 5.93p |
6.40p 6.29p |
Earnings per Share - Adjusted | 5.60p | 3.00p | 6.20p | 7.40p |
Earnings per Share Growth - Basic | 104% 70% |
-53% -54% |
-22% -7% |
n/a n/a |
Earnings per Share Growth - Diluted | 104% 69% |
-53% -54% |
-20% -6% |
n/a n/a |
Earnings per Share Growth - Adjusted | 87% | -52% | -16% | n/a |
PE Ratio - Diluted | 11.8 12.5 |
14.0 12.2 |
6.9 5.9 |
10.3 10.5 |
PEG - Diluted | 0.1 0.2 |
n/a n/a |
n/a n/a |
n/a n/a |
Dividend Cover | 14.00 11.71 |
n/a n/a |
n/a n/a |
5.92 5.08 |
Return on Equity (ROE) | 5.22% 4.95% |
2.63% 3.03% |
5.01% 5.78% |
6.67% 6.51% |
Operating Cash Flow per Share | 10.35p | 13.81p | (1.76p) | 6.59p |
Gross Cash Flow per Share | cn/a | cn/a | cn/a | cn/a |
Cash Incr/Decr per Share | 3.25p | 3.85p | 1.10p | (7.09p) |
Capital Expenditure per Share | n/a | n/a | n/a | n/a |
Dividend per Share | 0.40p | n/a | n/a | 1.25p |
Dividend per Share Growth | n/a | n/a | n/a | n/a |
Dividend Yield | 0.7% | 0.0% | 0.0% | 1.9% |
Shareholders Funds | 22.86 | 21.69 | 21.07 | 16.17 |
Net Borrowings £ (Millions) | 6.61 | 7.84 | 10.15 | 10.80 |
Net Asset Value per Share (inc. Intangibles) | 41.73p | 36.87p | 40.51p | 23.53p |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - inc Intangibles | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Shareholders' Funds inc Intangibles | 22.86 | 21.69 | 21.07 | 16.17 |
Net Borrowings £ (Millions) | 6.61 | 7.84 | 10.15 | 10.80 |
Net Gearing | 28.93% | 36.13% | 48.17% | 66.80% |
Cash & Near Cash | 1.72 | 1.10 | 0.63 | 0.55 |
Cash | 7.51% | 5.06% | 3.01% | 3.39% |
Gross Borrowings | 8.33 | 8.93 | 10.78 | 11.35 |
Gross Gearing | 36.44% | 41.19% | 51.18% | 70.19% |
Borrowings Under 5 years | 8.33 | 8.93 | 10.78 | 11.35 |
Under 5 years | 36.44% | 41.19% | 51.18% | 70.19% |
Borrowings Under 1 year | n/a | n/a | n/a | n/a |
Under 1 year | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Gearing - exc Intangibles | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Shareholders' Funds exc Intangibles | 10.63 | 9.39 | 8.89 | 4.14 |
Net Borrowings £ (Millions) | 6.61 | 7.84 | 10.15 | 10.80 |
Net Gearing | 62.19% | 83.41% | 114.23% | 260.77% |
Cash & Near Cash | 1.72 | 1.10 | 0.63 | 0.55 |
Cash | 16.14% | 11.68% | 7.14% | 13.23% |
Gross Borrowings | 8.33 | 8.93 | 10.78 | 11.35 |
Gross Gearing | 78.33% | 95.09% | 121.36% | 274.00% |
Borrowings Under 5 years | 8.33 | 8.93 | 10.78 | 11.35 |
Under 5 years | 78.33% | 95.09% | 121.36% | 274.00% |
Borrowings Under 1 year | n/a | n/a | n/a | n/a |
Under 1 year | n/a | n/a | n/a | n/a |
£ (Millions) | £ (Millions) | £ (Millions) | £ (Millions) | |
Cover | 31-May-11 | 31-May-10 | 31-May-09 | 31-May-08 |
Quick Ratio | 0.84 | 0.85 | 0.83 | 0.63 |
Current Ratio | 1.45 | 1.50 | 1.42 | 1.16 |
* GAAP
a. Includes discontinued activities
b. Based on operating cash flow before tax
c. Not disclosed under IFRS
d. Includes non-current assets
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