Scottish Oriental Smalle... (SST)

Company name:	Scottish Oriental Smaller Companies Trust Plc
EPIC:	SST	Trading Currency:	GBX
Market Sector:	SSC5	ISIN:	GB0007836132
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.firststate.co.uk/	Description:	ORD 25P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
1,075.00	-25.0 [-2.27]	1,100.00	1,120.00	1,075.00	1,075.00	1,075.00	1,263
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
282.60	26.29	0.28	9.02	-	119.18	-	1,257.50 - 1,015.00

Scottish Oriental Smalle... Key Figures

(at previous day's close)
Market Cap.	282.60	m
Shares In Issue	26.29	m
Prev. Close	1,100.00
PE Ratio	119.18
Dividend Yield	-	%
EPS - basic	9.02	p
Dividend PS	-	p
Dividend Cover	-
Cash Flow PS	-49.06	p
Return On Equity (ROE)	0.74	%
Operating Margin	46.52	%
PEG Factor	11.76
EPS Growth Rate	10.13	%
Dividends PS Growth Rate	-	%
Net Debt	19.18	m
Gross Gearing	9.61	%
Quick Assets	18.71	m
Net Working Capital	16.32	m
Intangibles / Fixed Assets	-	%
Turnover PS	26.14	p
Pre-Tax Profit PS	12.16	p
Retained Profit PS	-2.80	p
Cash PS	66.75	p
Net Cash PS	57.67	p
Net Tangible Asset Value PS *	1,314.24	p
Net Asset Value PS	1,314.24	p
Spread	20.00 (1.79%)
* Calculation based on Ordinary Capital figure as contained in last annual report, and the most recent shares in issue figure. Therefore the ratio might be exposed to inaccuracies.

Scottish Oriental Smalle... Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	1,100.00	1,065.00
4 weeks	1,102.50	1,040.00
12 weeks	1,155.00	1,035.00
1 year	1,257.50	1,015.00

Share Price Chart (5 years)

Scottish Oriental Smalle... Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	1,065.00	10.00	0.94	1,065.00	0.02		1,093.01
4 weeks	1,075.00	-	-	1,040.00	0.02		1,076.19
12 weeks	1,110.00	-35.00	-3.15	1,035.00	0.03		1,092.28
26 weeks	1,145.00	-70.00	-6.11	1,015.00	0.02		1,096.37
1 year	1,070.00	5.00	0.47	1,015.00	0.03		1,116.05
3 years	1,045.00	30.00	2.87	610.00	0.04		960.49
5 years	1,040.00	35.00	3.37	610.00	0.04		973.75
† periods calculated are whole weeks rather than calendar months

Scottish Oriental Smalle... Key Management Ratios

Scottish Oriental Smalle... Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	-
PE Ratio	119.18
Tobin's Q Ratio	0.84
Tobin's Q Ratio (excl. intangibles)	0.84
Dividend Yield	-	%
Market-to-Book Ratio	0.82
Price-to-Pre-Tax Profit PS	88.39
Price-to-Retained Profit PS	-383.96
Price-to-Cash Flow PS	-21.91
Price-to-Sales PS	41.12
Price-to-Net Tangible Asset Value PS	0.82
Price-to-Cash PS	16.11
Net Working Capital PS	62.09
Price Pct to Working Capital PS	17.31	%
Earnings Yield	0.84	%
Average PE	116.57
Years in average	3
PE to PE average	102.24	%

Scottish Oriental Smalle... Financial Ratios

(Leverage Ratios)
Debt Ratio	9.04	%
Debt-to-Equity Ratio	0.10
Debt-to-Equity Ratio (excl. Intgbl)	0.10
Debt-to-Equity Market Value	0.12
Net Gearing	5.02	%
Net Gearing (excl. Intangibles)	5.02	%
Gross Gearing	9.61	%
Gross Gearing (excl. Intangibles)	9.61	%
Gearing Under 1 Year	0.62	%
Gearing Under 1 Year (excl. Intgbl)	0.62	%
Assets/Equity	1.11
Cash/Equity	5.08
(Liquidity Ratios)
Net Working Capital to Total Assets	4.27	%
Current Ratio	7.84
Quick Ratio (Acid Test)	7.84
Liquidity Ratio	7.35
Cash & Equiv/Current Assets	93.78	%
(Solvency Ratios)
Enterprise Value	299.39	m
CFO/Sales	-1.88
CFO/Attributable Profit	-
CFO/Assets	-0.03
CFO/Debt	-0.35
Total Debt/Equity Market Value	0.13
Total Debt/Sales	5.34
Total Debt/Pre-Tax Profit	11.49
Total Debt	36.72	m
Total Debt/Net Current Assets	2.25	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	5.91	%
10 yr Compound Earnings Growth	-	%
Earn drops > 5% in 10yrs	5

Beta (60-Mnth)	Beta (36-Mnth)
0.2770	0.3108

Scottish Oriental Smalle... Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	0.84	%
Return On Assets (ROA)	0.76	%
Net Profit Margin	37.08	%
Assets Turnover	0.02
Return On Equity (ROE)	0.74	%
Return On Investment (ROI)	0.76	%
Dividend Payout Ratio	-	%
Plowback Ratio	100.00	%
Growth from Plowback Ratio	0.80	%
Net Income Of Revenues	-10.71	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.02
Fixed Assets Turnover	0.02
Current Assets Turnover	0.33
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	48.97
Debtors-to-Sales	16.06	%
Debt Collection Period	58.61	Days

Scottish Oriental Smalle... Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
02 Nov 2020	Final	GBX	11.50	31/08/2019	31/08/2020	03/12/2020	04/12/2020	15/01/2021	11.50
15 Oct 2019	Final	GBX	11.50	31/08/2018	31/08/2019	05/12/2019	06/12/2019	17/01/2020	11.50
16 Oct 2018	Final	GBX	11.50	31/08/2017	31/08/2018	06/12/2018	07/12/2018	18/01/2019	11.50
31 Oct 2017	Final	GBX	11.50	31/08/2016	31/08/2017	07/12/2017	08/12/2017	19/01/2018	11.50
14 Oct 2016	Final	GBX	11.50	31/08/2015	31/08/2016	08/12/2016	09/12/2016	20/01/2017	11.50
28 Oct 2015	Final	GBX	11.50	31/08/2014	31/08/2015	10/12/2015	11/12/2015	22/01/2016	11.50
04 Nov 2014	Final	GBX	11.50	31/08/2013	31/08/2014	11/12/2014	12/12/2014	23/02/2015	11.50
30 Oct 2013	Final	GBX	11.50	31/08/2012	31/08/2013	11/12/2013	13/12/2013	31/01/2014	11.50
01 Nov 2012	Final	GBX	11.00	31/08/2011	31/08/2012	12/12/2012	14/12/2012	31/01/2013	11.00
31 Oct 2011	Final	GBX	9.00	31/08/2010	31/08/2011	14/12/2011	16/12/2011	10/02/2012	9.00
14 Oct 2010	Final	GBX	8.50	31/08/2009	31/08/2010	15/12/2010	17/12/2010	28/01/2011	8.50
19 Oct 2009	Final	GBX	6.00	31/08/2008	31/08/2009	16/12/2009	18/12/2009	29/01/2010	6.00
19 Oct 2008	Final	GBX	5.00	31/08/2007	31/08/2008	17/12/2008	19/12/2008	29/01/2009	5.00
17 Oct 2006	Final	GBX	3.60	31/08/2005	31/08/2006	20/12/2006	22/12/2206	26/01/2007	3.60
20 Oct 2005	Final	GBX	2.60	31/08/2004	31/08/2005	14/12/2005	16/12/2005	27/01/2006	2.60
21 Oct 2004	Final	GBX	1.58	31/08/2003	31/08/2004	15/12/2004	17/12/2004	27/01/2005	1.58
16 Oct 2003	Final	GBX	1.50	31/08/2002	31/08/2003	17/12/2003	19/12/2003	23/01/2004	1.50
24 Oct 2002	Final	GBX	1.50	31/08/2001	31/08/2002	18/12/2002	20/12/2002	27/01/2003	1.50
08 Jan 2002	Final	GBX	1.81	31/08/2000	31/08/2001	19/12/2001	21/12/2001	28/01/2002	1.81
19 Oct 2000	Final	GBX	1.29	31/08/1999	31/08/2000	18/12/2000	22/12/2000	22/01/2001	1.29
21 Oct 1999	Final	GBX	0.85	31/08/1998	31/08/1999	13/12/1999	17/12/1999	21/01/2000	0.85
23 Oct 1998	Final	GBX	0.85	31/08/1997	31/08/1998	14/12/1998	18/12/1998	22/01/1999	0.85

Scottish Oriental Smalle... Fundamentals

	31 Aug 2018 (GBP)		31 Aug 2019 (GBP)		31 Aug 2020 (GBP)		31 Aug 2021 (GBP)
turnover	6.98	100.00%	7.65	100.00%	6.31	100.00%	6.87	100.00%	m
pre tax profit	3.40	48.63%	4.28	55.92%	3.14	49.78%	3.20	46.52%	m
attributable profit	2.83	40.46%	3.73	48.78%	2.44	38.67%	2.55	37.08%	m
retained profit	-0.73	-10.51%	0.30	3.91%	-12.05	-191.01%	-0.74	-10.71%	m
eps - basic (p)	9.19		12.50		8.19		9.02
eps - diluted (p)	9.19		12.50		8.19		9.02
dividends per share	11.50		11.50		11.50		-

Scottish Oriental Smalle... Balance Sheet

	31 Aug 2018 (GBP)		31 Aug 2019 (GBP)		31 Aug 2020 (GBP)		31 Aug 2021 (GBP)


	31 Aug 2018 (GBP)		31 Aug 2019 (GBP)		31 Aug 2020 (GBP)		31 Aug 2021 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	325.73	94.07%	312.74	86.35%	267.33	91.92%	363.50	95.11%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	1.50	0.43%	8.48	2.34%	1.04	0.36%	1.16	0.30%	m
cash & securities	19.05	5.50%	40.95	11.31%	22.46	7.72%	17.55	4.59%	m

TOTAL	346.27	100%	362.17	100%	290.83	100%	382.21	100%	m

LIABILITIES
creditors - short	0.87	0.25%	16.10	4.45%	1.38	0.47%	2.39	0.62%	m
creditors - long	-	-%	-	-%	-	-%	34.34	8.98%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	0.87	0.25%	16.10	4.45%	1.38	0.47%	36.72	9.61%	m

EQUITY
ord cap, reserves	345.40	99.75%	346.06	95.55%	289.45	99.53%	345.49	90.39%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	345.40	99.75%	346.06	95.55%	289.45	99.53%	345.49	90.39%	m

OTHER
NAV Basic	-		-		-		-
NAV Diluted	-		-		-		-

Scottish Oriental Smalle... Cash Flow Statement

	31 Aug 2018 (GBP)	31 Aug 2019 (GBP)	31 Aug 2020 (GBP)	31 Aug 2021 (GBP)
Operating CF	1.96	24.09	-5.36	-12.90	m
Pre-Financing CF	1.96	24.09	-5.36	-12.90	m
Retained CF	-12.54	20.65	-14.49	-5.05	m

Scottish Oriental Smalle... Brokers

Name	Activity	Type	Mnemonic	Code
J.P. Morgan Cazenove Limited	Market Maker(MME)	Broker/Dealer	CAZR	CAZEGB2L
Cenkos Securities Plc	Market Maker(MME)	Broker/Dealer	CNKS	CNKOGB21
Collins Stewart Europe Limited	Market Maker(MME)	Broker/Dealer	CSCS	CSTEGB21
Canaccord Genuity Limited	Market Maker(MME)	Broker/Dealer	CANA	HOARGB21001
J.P. Morgan Securities Ltd	Market Maker(MMF)	Broker/Dealer	JPMS	JPMSGB2L
Numis Securities Limited	Market Maker(MME)	Broker/Dealer	NUMS	RAZHGB2LBIC
UBS AG	Market Maker(MMF)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC