Interim Management Statement

RNS Number : 4883V

Shires Smaller Companies PLC

02 November 2010

 



Shires Smaller Companies plc

Interim Management Statement - 3 months to 30 September 2010

To the members of Shires Smaller Companies plc

This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure and Transparency Rules. It should not be relied upon by any other party or for any other purpose.

This interim management statement relates to the period from 1 July 2010 to 30 September 2010, and contains information that covers this period, and up to the date of publication of this interim management statement, unless otherwise specified.

Investment objective

To provide a high and growing dividend and capital growth from a portfolio invested principally in the ordinary shares of small companies and UK fixed income securities.

Benchmark

FTSE SmallCap Index (ex Investment Companies) total return

Ten largest equity holdings at 30 September 2010

	% of net assets
Oxford Instruments	3.1
XP Power	3.0
Weir	2.9
BSS	2.9
Chesnara	2.5
Morgan Sindall	2.4
Chaucer	2.2
Wilmington	2.2
McBride	2.2
Helical Bar	2.1
Total	25.5
Total number of investments	60

Sector allocation as at 30 September 2010

	%
Industrials	45.5
Consumer Services	20.7
Financials	15.9
Consumer Goods	7.5
Technology	4.1
Basic Materials	3.8
Health Care	2.5
Total	100.0

General description of Company's financial position and performance as at 30 September 2010

	£m
Gross Assets	41.5
Net assets	31.5
Equity Gearing	(3.4)%
Total Gearing	28.9%

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/09/2010
Share Price	120.3p	5.9	18.4	26.4	35.3	-33.1	-30.7
NAV A	140.8p	7.1	17.3	17.5	31.4	-30.1	-18.5
FTSE SmallCap ex IC		6.7	11.6	5.7	-0.6	-23.1	-7.4

Discrete performance (%)

	30/09/2010	30/09/2009	30/09/2008	30/09/2007	30/09/2006
Share Price	35.3	2.3	-51.6	4.8	-1.2
NAV A	31.4	5.5	-49.6	6.5	9.6
FTSE SmallCap ex IC	-0.6	25.5	-38.4	4.8	14.9

Total Return; NAV to NAV net income reinvested. GBP. Share price total return is on a mid-to-mid basis.

Dividend calculations are to reinvest as at the ex-dividend date. NAV returns based on NAVs with debt valued at par.

Source: Aberdeen Asset Managers Limited, Factset, and Morningstar.

^A Excluding current year revenue.

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 September 2010 and the date of publication of this interim management statement which would have a material impact on the financial position of the Company. For latest performance information, please refer to the Company's website, www.shiressmallercompanies.co.uk.

Please note that past performance is not necessarily a guide to the future and that the value of investments and the income from them may fall as well as rise.  Investors may not get back the amount they originally invested.

For Shires Smaller Companies plc

Aberdeen Asset Management PLC, Secretary

2 November 2010

 

END

 

 

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