Momentum
Relative Strength (%)
1m +2.0%
3m +1.6%
1yr -0.3%
Volume Change (%)
10d v 3m
Price vs... (%)
52w High -7.1%
50d MA -2.76%
200d MA +2.07%
vs.
market
vs.
industry
Growth & Value
Trailing 12m
PE Ratio (ttm) n/a
PEG Ratio (ttm) n/a
EPS Growth (ttm) n/a %
Dividend Yield (ttm) 5.49 %
Valuation (ttm)
Price to Book Value 1.12
Price to Tang. Book 1.12
Price to Free Cashflow 39.0
Price to Sales -8.83
EV to EBITDA n/a

Margin of Safety (beta)
Screens Passed

HFEL doesn't qualify for our screens.
Find out why:   View Checklists

vs.
market
vs.
industry
Quality
Return on Capital -14.1 %
Return on Equity -13.5 %
Operating Margin 111.6 %
Balance Sheet · Income Statement · Cashflow Financial Summary
Year End 31st Aug 2008 2009 2010 2011 2012 2013 TTM 2014E 2015E CAGR / Avg
Revenue £m 7.13 11.1 48.6 10.8 29.9 39.3 -39.4 +40.7%
Operating Profit £m 4.55 8.59 45.3 7.06 26.3 34.6 -43.9 +50.0%
Net Profit £m 3.52 7.73 43.8 5.68 24.8 32.8 -45.6 +56.2%
EPS Reported p 4.53 9.79 47.8 5.74 24.5 31.8 -43.9 +47.7%
EPS Normalised p 4.53 9.79 47.8 5.74 24.5 31.8 -43.9 +47.7%
EPS Growth % -89.2 +116 +388 -88.0 +326.8 +29.9
PE Ratio x 10.1 n/a n/a n/a
PEG x n/a n/a n/a n/a
Profitability
Operating Margin % 63.8 77.4 93.2 65.3 87.9 87.9 111.6 +79.2%
ROA % 3.6 17.3 2.0 8.1 9.6 -13.1
ROCE % 2.2 4.0 15.9 2.5 8.8 10.6 -14.1 +7.3%
ROE % 3.7 17.5 2.0 8.4 10.5 -13.5 +8.4%
Cashflow
Op. Cashflow ps p 2.00 -8.21 -32.7 7.48 -6.78 -3.15 8.63
Capex ps p 0.000 0.000 0.000 0.000 0.000 0.000 0.000
Free Cashflow ps p 2.00 -8.21 -32.7 7.48 -6.78 -3.15 8.63
Last ex-div: 6th Aug, paid: 29th Aug more... Dividends
Dividend ps p 12.0 12.4 13.6 15.0 16.0 17.0 17.6 +7.2%
Dividend Growth % +45.5 +3.33 +9.68 +10.3 +6.67 +6.25 +3.53
Dividend Yield % 5.30 5.49
Dividend Cover x 0.38 0.79 3.51 0.39 1.53 1.87 -2.49
Balance Sheet
Cash etc £m 8.89 3.85 2.45 3.29 6.08 4.26 3.12 -13.7%
Working Capital £m 5.00 8.74 3.81 4.31 -11.4 -23.1 -15.2
Net Fixed Assets £m 198.1 206.8 281.1 283.1 311.9 348.9 326.5 +12.0%
Net Debt £m -5.34 -2.38 1.18 -2.78 15.3 26.9 19.0
Book Value £m 203.1 215.5 284.9 287.4 300.5 325.8 311.3 +9.9%
Average Shares m 77.6 79.0 91.6 98.9 101.1 102.9 103.2 +5.8%
Book Value ps p 261.7 258.5 295 287.1 295.8 312.2 295.8 +3.6%

FINANCIAL BRIEF: For the six months ended 28 February 2014, Henderson Far East Income Limited revenues decreased from L73M to -L5.7M. Net loss totaled L8.1M vs. income of L70.3M. Revenues reflect a decrease in demand for the Company's products and services due to unfavorable market conditions. Net loss reflects Other Expenses increase of 11% to L410K (expense). Dividend per share increased from L0.08 to L0.09. more »

Health Trend

Bankruptcy Risk

N/A Earnings Manipulation Risk

Magic Formula Score

Other Ratios
Leverage (ttm) Total Ex Intang
Gross Gearing % 7.09 7.09
Net Gearing % 6.09 6.09
Cash / Assets % 0.94
Liquidity (ttm)
Curr. Ratio 0.35
Quick Ratio 0.35
Interest Cov. n/a
Efficiency (ttm)
Asset Turnover -0.12
Rec's Turnover n/a
Stock Turnover n/a

vs.
market
vs.
industry
Recent History
Latest interim period (ended 28th Feb '14) vs. prior year
Sales Growth n/a %
EPS Growth n/a %
3yr Compound Annual Growth Rate
Sales Growth -6.79 %
EPS Growth -12.7 %
DPS Growth 7.72 %
Graphical History Current Fiscal Year 2014

Broker Forecasts
31st Aug 2014
31st Aug 2015

Price Target: N/A Net Profit EPS DPS Net Profit EPS DPS
Est. Long Term Growth Rate: n/a (£) (£) (£) (£) (£) (£)
Consensus Estimate - - - - - -
1m Change - - - - - -
3m Change - - - - - -
Broker Consensus Trend
Broker Recommendations for Henderson Far East Income Closed Fund
Recommendation:Strong SellSellHoldBuyStrong Buy
No. of Analysts: 0 1 0 0 0

Named Brokers and Analysts
There are no named brokers.

Henderson Far East Income Limited is a Jersey-based closed-end investment company. The Company seeks to provide dividends, as well as capital appreciation over the long term, from a diversified portfolio of investments traded on the Pacific, Australasian, Japanese and Indian stock markets (the Asia Pacific region). Investments are made in a diversified portfolio of securities (including debt securities) issued by companies listed on stock exchanges in, or which are based in or whose business activities are concentrated on, the Asia Pacific region or by governments in the Asia Pacific region. Investment is primarily in listed equities, but also includes preference shares, debt, convertible securities, warrants and other equity related securities. Its investment manager is Henderson Global Investors Ltd.

Directors: Satbinder Duhra (OTH) , Michael Kerley (OTH) , Jeremy Hamon (SEC) , John Russell (NEC) 67, David Staples (NED) 56, David Mashiter (NID) 61, Simon Meredith Hardy (NID) 64, Richard Povey (NID) ,

No. of Employees: 0 No. of Shareholders: 0


Last Annual August 31st, 2013
Last Interim February 28th, 2014
Shares in Issue 108,545,564
Free Float 108.5m (100.0%)
ISIN JE00B1GXH751
Sector Financials
Industry Collective Investments
Index FTSE All Share Financials , FTSE All Share Equity Investment Instruments , FTSE Small Cap ,
Exchange London Stock Exchange (Full) (Dual Listing)
Eligible for an ISA? a SIPP?

Address BNP House Anley Street, SAINT HELIER, JE2 3QE, Jersey
Web http://www.henderson.com
Phone +44 1534 709108
Contact ()
Auditors KPMG Channel Islands Limited

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