Interim Management Statement

RNS Number : 1033W

Shires Income PLC

22 July 2009

 



Shires Income PLC

Interim Management Statement - 3 months to 30 June 2009

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 2009 to 30 June 2009, 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 

The Company released its Annual Financial Report on 27 May 2009 and posted its Annual Report to shareholders shortly thereafter. The Chairman's Statement dated 26 May 2009 and included in both reports stated inter alia that 'After careful consideration of the Company's projected income generation, the Board anticipates that the Company should be able to pay a dividend of 12.0p per share in the year to 31 March 2010. The Board believes this level of dividend is more sustainable in the current economic climate and more consistent with the objective of achieving growth in both capital and income.'

On 3 July 2009, the Company held its Annual General Meeting. All resolutions were passed at the meeting. 

On 31 July 2009, the Company will pay a final dividend of 6.55p per share for the year ended 31 March 2009 to shareholders on the register on 3 July 2009.

Ten largest equity holdings at 30 June 2009

	% of gross assets
Shires Smaller Companies	4.7
British American Tobacco	4.4
Sierra Monitor	2.9
Astrazeneca	2.8
Royal Dutch	2.8
Centrica	2.6
Vodafone	2.6
BP	2.5
National Grid	2.3
Arriva	2.1
Total	29.7
Total number of investments	60

Sector allocation as at 30 June 2009

	%
Financials	44.4
Consumer Services	13.9
Consumer Goods	13.3
Industrials	7.7
Oil & Gas	5.6
Utilities	5.2
Health Care	4.8
Telecommunications	3.9
Basic Materials	1.1
Technology	0.1
Total	100.0

General description of Company's financial position and performance as at 30 June 2009

	£m
Equities	41.4
Fixed Income	19.4
Total Investments	60.8
Net current assets	2.2
Debt	(21.9)
Net assets	41.1
Equity Gearing	0.7%
Total gearing	53.2%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/06/2009
Share Price	135.5p	1.1	29.1	2.0	-26.3	-43.9	-0.2
NAV*	128.7p	-3.6	19.1	-9.8	-30.8	-44.1	-17.0
FTSE All-Share		-3.2	10.9	0.8	-20.5	-18.1	16.3

Discrete performance (%)*

Year ending	30/06/09	30/06/08	30/06/07	30/06/06	30/06/05
Share Price	-26.3	-27.5	4.9	19.6	48.8
NAV	-30.8	-30.2	15.9	18.2	25.7
FTSE All-Share	-20.5	-13.0	18.4	19.7	18.7

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, 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 2009 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

22 July 2009

 

END

 

 

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