Tr European Growth (TRG)

Company name:	Tr European Growth Trust Plc
EPIC:	TRG	Trading Currency:	GBX
Market Sector:	SSC6	ISIN:	GB0009066928
Market Segment:	SSMM	Share Type:	DE
WWW Address:	http://www.henderson.com	Description:	ORD 12.5P
Industry Sector:	EQUITY INVESTMENT INSTRUMENTS

Price	Price Change [%]	Bid	Offer	Open	High	Low	Volume
1,430.00	-10.0 [-0.69]	1,435.00	1,445.00	1,430.00	1,440.00	1,425.00	22,972
Market Cap. [m]	Shares In Issue [m]	Beta	EPS	DPS	PE Ratio	Yield	52-Wks-Range
1,753.91	122.65	0.28	11.94	22.00	119.77	1.54	1,560.00 - 878.00

Tr European Growth Key Figures

(at previous day's close)
Market Cap.	1,753.91	m
Shares In Issue	122.65	m
Prev. Close	1,440.00
PE Ratio	119.77
Dividend Yield	1.54	%
EPS - basic	11.94	p
Dividend PS	22.00	p
Dividend Cover	0.54
Cash Flow PS	16.35	p
Return On Equity (ROE)	1.14	%
Operating Margin	82.35	%
PEG Factor	-2.38
EPS Growth Rate	-50.42	%
Dividends PS Growth Rate	-	%
Net Debt	54.17	m
Gross Gearing	9.39	%
Quick Assets	4.51	m
Net Working Capital	-49.71	m
Intangibles / Fixed Assets	-	%
Turnover PS	6.65	p
Pre-Tax Profit PS	5.48	p
Retained Profit PS	-4.23	p
Cash PS	0.05	p
Net Cash PS	-44.16	p
Net Tangible Asset Value PS *	426.72	p
Net Asset Value PS	426.72	p
Spread	10.00 (0.69%)
* 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.

Tr European Growth Balance Sheet

Share Price Performance

Sample Period ^†	High	Low
1 week	1,470.00	1,400.00
4 weeks	1,520.00	1,400.00
12 weeks	1,560.00	1,400.00
1 year	1,560.00	878.00

Share Price Chart (5 years)

Tr European Growth Historic Returns

Period ^†	Open	Change	%	Open Avg.	Avg. Daily Vol [m]	Total Vol [m]	VWAP
1 week	1,470.00	-40.00	-2.72	1,400.00	0.08		1,427.44
4 weeks	1,500.00	-70.00	-4.67	1,400.00	0.05		1,461.99
12 weeks	1,500.00	-70.00	-4.67	1,400.00	0.05		1,484.11
26 weeks	1,290.00	140.00	10.85	1,245.00	0.07		1,398.03
1 year	896.00	534.00	59.60	878.00	0.06		1,262.39
3 years	1,010.00	420.00	41.58	536.00	0.07		978.29
5 years	659.00	771.00	117.00	536.00	0.07		1,003.38
† periods calculated are whole weeks rather than calendar months

Tr European Growth Key Management Ratios

Tr European Growth Investment Ratios

(Market value analysis) at previous day's close
PQ Ratio	8.21
PE Ratio	119.77
Tobin's Q Ratio	3.02
Tobin's Q Ratio (excl. intangibles)	3.02
Dividend Yield	1.54	%
Market-to-Book Ratio	3.35
Price-to-Pre-Tax Profit PS	261.15
Price-to-Retained Profit PS	-338.01
Price-to-Cash Flow PS	87.46
Price-to-Sales PS	215.07
Price-to-Net Tangible Asset Value PS	3.35
Price-to-Cash PS	30,770.32
Net Working Capital PS	-40.53
Price Pct to Working Capital PS	-35.28	%
Earnings Yield	0.83	%
Average PE	52.42
Years in average	5
PE to PE average	228.49	%

Tr European Growth Financial Ratios

(Leverage Ratios)
Debt Ratio	-	%
Debt-to-Equity Ratio	-
Debt-to-Equity Ratio (excl. Intgbl)	-
Debt-to-Equity Market Value	-
Net Gearing	9.38	%
Net Gearing (excl. Intangibles)	9.38	%
Gross Gearing	9.39	%
Gross Gearing (excl. Intangibles)	9.39	%
Gearing Under 1 Year	9.39	%
Gearing Under 1 Year (excl. Intgbl)	9.39	%
Assets/Equity	1.10
Cash/Equity	0.01
(Liquidity Ratios)
Net Working Capital to Total Assets	-8.61	%
Current Ratio	0.08
Quick Ratio (Acid Test)	0.08
Liquidity Ratio	0.00
Cash & Equiv/Current Assets	1.26	%
(Solvency Ratios)
Enterprise Value	1,753.85	m
CFO/Sales	2.46
CFO/Attributable Profit	3.35
CFO/Assets	0.03
CFO/Debt	0.37
Total Debt/Equity Market Value	0.03
Total Debt/Sales	6.65
Total Debt/Pre-Tax Profit	8.07
Total Debt	54.22	m
Total Debt/Net Current Assets	-1.09	%
(Dodds - Graham Ratios)
3 yr Compound Earnings Growth	-	%
5 yr Compound Earnings Growth	-	%
10 yr Compound Earnings Growth	12.16	%
Earn drops > 5% in 10yrs	7

Beta (60-Mnth)	Beta (36-Mnth)
0.2777	0.2063

Tr European Growth Operating Ratios

(Profitability Ratios)
Return On Capital Employed (ROCE)	1.28	%
Return On Assets (ROA)	1.03	%
Net Profit Margin	73.39	%
Assets Turnover	0.01
Return On Equity (ROE)	1.14	%
Return On Investment (ROI)	1.15	%
Dividend Payout Ratio	184.25	%
Plowback Ratio	-84.25	%
Growth from Plowback Ratio	-0.97	%
Net Income Of Revenues	-63.63	%
(Asset Utilisation Multiples)
Shareholders Equity Turnover	0.02
Fixed Assets Turnover	0.01
Current Assets Turnover	1.78
Net Working Capital Turnover
Inventory Turnover	-
(Other Operating Ratios)
Total Assets-to-Sales	71.28
Debtors-to-Sales	55.66	%
Debt Collection Period	203.16	Days

Tr European Growth Dividends

Announcement Date	Type	Curr.	Dividend Amount	Period Start	Period End	Ex Date	Record Date	Payment Date	Total Dividend Amount
23 Feb 2021	Interim	GBX	8.20	01/07/2020	31/12/2020	25/03/2021	26/03/2021	23/04/2021	-
08 Oct 2020	Final	GBX	14.20	30/06/2019	30/06/2020	22/10/2020	23/10/2020	27/11/2020	22.00
25 Feb 2020	Interim	GBX	7.80	30/06/2019	30/06/2020	26/03/2020	27/03/2020	17/04/2020	-
03 Oct 2019	Final	GBX	14.50	30/06/2018	30/06/2019	24/10/2019	25/10/2019	29/11/2019	22.00
26 Feb 2019	Interim	GBX	7.50	30/06/2018	30/06/2019	14/03/2019	15/03/2019	12/04/2019	-
11 Oct 2018	Final	GBX	14.00	30/06/2017	30/06/2018	25/10/2018	26/10/2018	30/11/2018	19.00
06 Mar 2018	Interim	GBX	5.00	30/06/2017	30/06/2018	15/03/2018	16/03/2018	13/04/2018	-
02 Oct 2017	Special	GBX	3.00	30/06/2016	30/06/2017	02/11/2017	03/11/2017	30/11/2017	-
02 Oct 2017	Final	GBX	11.50	30/06/2016	30/06/2017	02/11/2017	03/11/2017	30/11/2017	11.50
19 Oct 2016	Final	GBX	9.00	30/06/2015	30/06/2016	03/11/2016	04/11/2016	05/12/2016	9.00
19 Oct 2016	Special	GBX	2.50	30/06/2015	30/06/2016	03/11/2016	04/11/2016	05/12/2016	-
29 Sep 2015	Final	GBX	7.00	30/06/2014	30/06/2015	22/10/2015	23/10/2015	23/11/2015	7.00
29 Sep 2015	Special	GBX	2.50	30/06/2014	30/06/2015	22/10/2015	23/10/2015	23/11/2015	-
06 Oct 2014	Special	GBX	2.70	30/06/2013	30/06/2014	16/10/2014	17/10/2014	24/11/2014	-
06 Oct 2014	Final	GBX	6.50	30/06/2013	30/06/2014	16/10/2014	17/10/2014	24/11/2014	6.50
07 Oct 2013	Special	GBX	2.00	30/06/2012	30/06/2013	16/10/2013	18/10/2013	18/11/2013	-
07 Oct 2013	Final	GBX	6.00	30/06/2012	30/06/2013	16/10/2013	18/10/2013	18/11/2013	6.00
21 Sep 2012	Special	GBX	1.50	30/06/2011	30/06/2012	03/10/2012	05/10/2012	09/11/2012	-
21 Sep 2012	Final	GBX	4.50	30/06/2011	30/06/2012	03/10/2012	05/10/2012	09/11/2012	6.00
28 Sep 2011	Special	GBX	0.65	30/06/2010	30/06/2011	12/10/2011	14/10/2011	11/11/2011	-
28 Sep 2011	Final	GBX	3.60	30/06/2010	30/06/2011	12/10/2011	14/10/2011	11/11/2011	4.25
29 Sep 2010	Final	GBX	3.40	30/06/2009	30/06/2010	06/10/2010	08/10/2010	19/11/2010	4.25
29 Sep 2010	Special	GBX	0.85	30/06/2009	30/06/2010	06/10/2010	08/10/2010	19/11/2010	-
22 Sep 2009	Special	GBX	2.30	30/06/2008	30/06/2009	07/10/2009	09/10/2009	13/11/2009	-
22 Sep 2009	Final	GBX	3.20	30/06/2008	30/06/2009	07/10/2009	09/10/2009	13/11/2009	5.40
24 Sep 2008	Special	GBX	2.00	30/06/2007	30/06/2008	08/10/2008	10/10/2008	07/11/2008	-
24 Sep 2008	Final	GBX	3.00	30/06/2007	30/06/2008	08/10/2008	10/10/2008	07/11/2008	5.00
18 Sep 2007	Final	GBX	2.80	30/06/2006	30/06/2007	26/09/2007	28/09/2007	09/11/2007	2.80
14 Sep 2006	Final	GBX	2.60	30/06/2005	30/06/2006	20/09/2006	22/09/2006	03/11/2006	2.60
13 Sep 2005	Final	GBX	2.50	30/06/2004	30/06/2005	21/09/2005	23/09/2005	04/11/2005	2.50
13 Sep 2005	Special	GBX	1.50	30/06/2004	30/06/2005	21/09/2005	23/09/2005	04/11/2005	-
26 Oct 2004	Final	GBX	-	30/06/2003	30/06/2004	29/09/2004	01/10/2004	05/11/2004	2.40
14 Sep 2004	Interim	GBX	2.40	30/06/2003	30/06/2004	29/09/2004	01/10/2004	05/11/2004	-
14 Sep 2004	Special	GBX	0.50	30/06/2003	30/06/2004	29/09/2004	01/10/2004	05/11/2004	-
16 Sep 2003	Final	GBX	2.10	30/06/2002	30/06/2003	01/10/2003	03/10/2003	05/11/2003	2.10
24 Sep 2002	Final	GBX	1.45	30/06/2001	30/06/2002	02/10/2002	04/10/2002	14/11/2002	1.45
13 Aug 2001	Final	GBX	1.45	30/06/2000	30/06/2001	26/09/2001	28/09/2001	01/11/2001	1.45
01 Aug 2000	Final	GBX	1.00	30/06/1999	30/06/2000	25/09/2000	29/09/2000	01/11/2000	1.00
07 Sep 1999	Final	GBX	0.90	30/06/1998	30/06/1999	27/09/1999	01/10/1999	01/11/1999	0.90
08 Sep 1998	Final	GBX	0.25	30/06/1997	30/06/1998	28/09/1998	02/10/1998	02/11/1998	0.25

Tr European Growth Fundamentals

	30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)
turnover	10.66	100.00%	13.67	100.00%	14.66	100.00%	8.16	100.00%	m
pre tax profit	9.36	87.87%	12.08	88.40%	13.28	90.58%	6.72	82.35%	m
attributable profit	8.51	79.85%	11.03	80.66%	12.07	82.33%	5.99	73.39%	m
retained profit	2.79	26.20%	1.26	9.20%	1.30	8.83%	-5.19	-63.63%	m
eps - basic (p)	17.09		22.06		24.08		11.94
eps - diluted (p)	17.09		22.06		24.08		11.94
dividends per share	11.50		19.00		22.00		22.00

Tr European Growth Balance Sheet

	30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)


	30 Jun 2017 (GBP)		30 Jun 2018 (GBP)		30 Jun 2019 (GBP)		30 Jun 2020 (GBP)
ASSETS
fixed assets	-	-%	-	-%	-	-%	-	-%	m
intangibles	-	-%	-	-%	-	-%	-	-%	m
fixed investments	621.24	99.40%	626.06	99.64%	580.40	99.21%	573.09	99.22%	m
current assets - other	-	-%	-	-%	-	-%	-	-%	m
stocks	-	-%	-	-%	-	-%	-	-%	m
debtors	3.71	0.59%	2.17	0.35%	4.63	0.79%	4.45	0.77%	m
cash & securities	0.06	0.01%	0.12	0.02%	0.00	0.00%	0.06	0.01%	m

TOTAL	625.00	100%	628.35	100%	585.02	100%	577.60	100%	m

LIABILITIES
creditors - short	55.55	8.89%	53.76	8.56%	64.00	10.94%	54.22	9.39%	m
creditors - long	-	-%	-	-%	-	-%	-	-%	m
creditors - other	-	-%	-	-%	-	-%	-	-%	m
subordinated loans	-	-%	-	-%	-	-%	-	-%	m
insurance funds	-	-%	-	-%	-	-%	-	-%	m

TOTAL	55.55	8.89%	53.76	8.56%	64.00	10.94%	54.22	9.39%	m

EQUITY
ord cap, reserves	569.46	91.11%	574.59	91.44%	521.02	89.06%	523.37	90.61%	m
prefs, minorities	-	-%	-	-%	-	-%	-	-%	m

TOTAL	569.46	91.11%	574.59	91.44%	521.02	89.06%	523.37	90.61%	m

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

Tr European Growth Cash Flow Statement

	30 Jun 2017 (GBP)	30 Jun 2018 (GBP)	30 Jun 2019 (GBP)	30 Jun 2020 (GBP)
Operating CF	-6.39	8.35	0.90	20.05	m
Pre-Financing CF	-6.39	8.35	0.90	20.05	m
Retained CF	-14.15	0.06	-0.12	0.05	m

Tr European Growth Brokers

Name	Activity	Type	Mnemonic	Code
Arbuthnot Securities Limited	Market Maker(MME)	Broker/Dealer	ARBT	ALESGB31MKT
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
HSBC Bank plc	Market Maker(MME)	Broker/Dealer	HSBC	JCAPGB2L
J.P. Morgan Securities Ltd	Market Maker(MME)	Broker/Dealer	JPMS	JPMSGB2L
UBS AG	Market Maker(MME)	Broker/Dealer	UBS.	UBSWGB2LEQU
Winterflood Securities Ltd	Market Maker(MME)	Broker/Dealer	WINS	WNTSGB2LBIC