Interim Management Statement

RNS Number : 1280W

Shires Income PLC

22 January 2013

 



Shires Income PLC

Interim Management Statement - 3 months to 31 December 2012

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 October 2012 to 31 December 2012, 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 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 half yearly results for the six months ended 30 September 2012 to the London Stock Exchange on 19 November 2012. The Company has declared a second interim dividend of 3p per share payable on 31 January 2013 to shareholders on the register on 4 January 2013.

Ten largest equity holdings at 31 December 2012

	% of portfolio
Aberdeen Smaller Companies High Income Trust	7.4
British American Tobacco	4.0
Royal Dutch Shell 'A'	3.8
Centrica	3.2
Vodafone	3.1
GlaxoSmithKline	2.8
AstraZeneca	2.6
HSBC	2.6
Unilever	2.5
Prudential	2.4
Total	34.4

Sector allocation as at 31 December 2012

	%
Financials*	48.9
Consumer Goods	9.3
Industrials	8.7
Consumer Services	8.3
Oil & Gas	7.2
Health Care	5.5
Utilities	5.3
Telecommunications	3.0
Basic Materials	2.7
Technology	1.1
Total	100.0

* - includes fixed interest and Aberdeen Smaller Companies High Income Trust PLC

General description of Company's financial position and performance as at 31 December 2012

	£m
Equities	55.3
Fixed Income	21.1
Total Investments	76.4
Cash	3.7
Other net assets	0.4
Debt	(18.0)
Net assets	62.5
Equity Gearing*	(11.4)%
Total Gearing**	22.9%

*              Expressed as a percentage of total equities held divided by Shareholders' funds.

**           Expressed as a percentage of gross assets divided by Shareholders' funds.

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/12/12
Share Price	214.5p	0.5	4.2	16.4	29.7	52.3	29.9
NAVA	202.3p	1.3	3.6	14.0	22.5	40.9	10.7
FTSE All-Share		1.0	3.8	8.7	12.3	24.2	13.2

Discrete performance (%)*

	31/12/12	31/12/11	31/12/10	31/12/09	31/12/08
Share Price	29.7	-2.5	20.4	37.5	-38.0
NAVA	22.5	-2.4	17.9	30.7	-39.9
FTSE All-Share	12.3	-3.5	14.5	30.1	-29.9

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.

AExcluding current year revenue.

Source: Aberdeen Asset Managers Limited, Factset and Morningstar

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 31 December 2012 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 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 January 2013

 

END

 

 

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