Half-yearly Report

Analyst Investment Management Plc                       

                          Registration Number 3687441                          

                    Interim Unaudited Financial Statements                     

                     for the 6 Months Ended 31st May 2009                      



                                   Contents

                                       Page

Directors' Statement                     3

Profit and Loss Account                  4

Balance Sheet                            5

Directors' Statement on the Unaudited Interim Results for the Six Months Ended
31st May 2009

The Company made a profit of £11,697 which compares to a loss of £26,236 in the
same period last year. Fee income was £77,358 (2008: £16,976) which reflects
performance-related fees earned for the year ended 30 November 2008.

In the first 6 months of the year the return on the funds under management has
been 1.25% versus a return of 8.22% on the FTSE All Share Index. The
performance of the Open Ended Investment Company (OEIC), quoted as CF Analyst
UK Fund since launch date, 1, December 2005 has been minus 8.85% versus a minus
6.46% on the FTSE All Share Index.

The fund had assets of £3.93m on the 31 May 2009. The fund maintains a high
cash balance and hence the main reason for the outperformance since inception
compared to the index.

We have deliberately not participated in the equity markets and kept more than
50% of the funds under management in cash primarily due to intense volatility,
adverse economic climate and uncertainty with regards to the banking sector.

There has been a small increase in costs, but these are still below the level
of the comparable period two years ago. The opportunity to cut costs further is
limited. It is expected, however, that certain administrative fees will be
reduced shortly and the cost savings will be reflected in the next financial
year.

The future success of the business is reliant on increasing revenues.
Discussions are continuing with a number of parties aimed at increasing
revenues.

This Statement has been prepared by and is the sole responsibility of the
directors of Analyst Investment Management plc.

CHAIRMAN                                 FINANCE DIRECTOR
Bharat Amin                              Surbjit Chadda
14 September 2009



Analyst Investment Management Plc

Profit And Loss Account

For The Six Months Ended 31 May 2009

                                              Unaudited   Unaudited     Audited
                                             Six Months  Six Months   12 months
                                                  ended       ended       ended
                                               May 2009    May 2008    Nov 2008
                                                      £           £           £

Turnover                                         77,358      16,976      41,160

Cost of sales                                   (17,895)    (16,581)    (36,738)
                                                 ______      ______      ______

Gross profit                                     59,463         395       4,422

Administrative expenses                         (48,567)    (42,012)    (97,821)
                                                 ______      ______      ______

Operating profit/(loss)                          10,896     (41,617)    (93,399)

Other interest receivable and similar income        801      15,381      27,747
                                                 ______      ______      ______

Profit/(loss) on ordinary 
activities before taxation                       11,697     (26,236)    (65,652)

Taxation                                              0           0           0
                                                 ______      ______      ______

Profit/(loss) on ordinary 
activities after taxation                        11,697     (26,236)    (65,652)
                                                 ______      ______      ______

Earnings per share (pence)                         0.16       (0.36)     (0.890)
                                                 ______      ______      ______


The turnover for the 6 months to 31 May 2009 includes the performance fee of £
58,724 earned in the year to 30 November 2008.

The earnings per share are based on the profit after taxation of £11,697,
(2008: £(26,236)), and the weighted average number of ordinary 2.5 pence shares
in issue during the period of 7,377,777 shares, (2007: 7,377,777 shares).
Ordinary 2.5 pence shares in issue at 31st May 2009 were 7,377,777.



Analyst Investment Management Plc

Balance Sheet

As at 31 May 2009

                                               Unaudited   Unaudited         Audited
                                                as at 31    as at 31           as at
                                                May 2009    May 2008   November 2008
                                                       £           £               £

Fixed assets

Tangible assets                                        0           0               0
                                                  ______      ______          ______

Current assets

Debtors                                           11,532           0          12,025

Cash at bank and in hand                         503,820     547,408         496,862
                                                  ______      ______          ______

                                                 515,352     547,408         508,887

Creditors: amounts falling

due within one year                                    -      (4,337)         (5,232)
                                                  ______      ______          ______

Net Current Assets                               515,352     543,071         503,655
                                                  ______      ______          ______

Net Assets                                       515,352     543,071         503,655
                                                  ______      ______          ______

Capital and reserves

Called up share capital                          184,444     184,444         184,444

Share premium account                          1,100,642   1,100,642       1,100,642

Profit and loss account                         (769,734)   (742,015)       (781,431)
                                                  ______      ______          ______

Equity Shareholders' Funds                       515,352     543,071         503,655
                                                  ______      ______          ______