Interim Management Statement

RNS Number : 3527A

Shires Income PLC

31 July 2008

 



Shires Income plc

Interim Management Statement - 3 months to 30 June 2008

To the members of Shires Income 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 April 2008 to 30 June 2008, 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 for shareholders a high level of income together with growth of both income and capital from a portfolio substantially invested in UK Equities. 

Benchmark

FTSE All-Share Index Total Return

Material events 

On 4 July 2008, the Company held its Annual General Meeting. All resolutions were passed at the meeting.

Ten largest equity holdings at 30 June 2008

	% of gross assets
Shires Smaller Companies	6.4
Arriva	3.7
British American Tobacco	3.4
Royal Bank of Scotland	3.4
BT	3.3
Vodafone	3.2
ATH Resources	2.6
Prudential	2.2
Astra Zeneca	2.0
Barclays	1.9
Total	32.1
Total number of investments	60

Sector allocation as at 30 June 2008

	%
Financials	48.1
Industrials	14.6
Consumer Services	10.3
Consumer Goods	8.3
Telecommunications	6.2
Basic Materials	4.9
Utilities	3.6
Health Care	1.9
Oil and Gas	1.9
Technology	0.2
Total	100.0

General description of Company's financial position and performance as at 30 June 2008

	£m
Equities	62.4
Fixed Income	26.0
Total Investments	88.4
Net current assets/(liabilities)	(6.6)
Index Linked Debenture Stock	(19.2)
Net assets	62.6
Equity Gearing	(0.4)%
Total gearing	41.2%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/06/2008
Share Price	209.0p	-4.8	-3.2	-14.2	-27.5	-9.0	46.6
NAV*	210.3p	-10.3	-12.6	-21.6	-30.2	-4.4	43.7
FTSE All-Share		-7.1	-1.4	-11.2	-13.0	23.2	71.0

Discrete performance (%)*

	30/06/08	30/06/07	30/06/06	30/06/05	30/06/04
Share Price	-27.5	4.9	19.6	48.8	8.2
NAV	-30.2	15.9	18.2	25.7	19.6
FTSE All-Share	-13.0	18.4	19.7	18.7	16.9

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.

Source: Aberdeen Asset Managers Limited, Factset, Financial Times and Fundamental Data

*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 June 2008 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.shiresincome.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 Income plc

Aberdeen Asset Management plc, Secretary

31 July 2008

 

END

 

 

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