Interim Management Statement

RNS Number : 1842Y

Shires Income PLC

21 January 2014

 



Shires Income PLC

Interim Management Statement - 3 months to 31 December 2013

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 2013 to 31 December 2013, 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 2013 to the London Stock Exchange on 15 November 2013. The Company has declared a second interim dividend of 3p per share payable on 31 January 2014 to shareholders on the register on 3 January 2014.

Ten largest equity holdings at 31 December 2013

	% of portfolio
Aberdeen Smaller Companies High Income Trust	7.4
Vodafone	4.3
Royal Dutch Shell 'A'	3.5
Prudential	3.1
British American Tobacco	3.1
Centrica	3.1
GlaxoSmithKline	3.1
HSBC	2.8
AstraZeneca	2.8
Close Brothers Group	2.5
Total	35.7

Sector allocation as at 31 December 2013

	%
Financials*	46.5
Consumer Goods	8.6
Industrials	8.5
Consumer Services	8.2
Oil & Gas	7.8
Health Care	5.9
Telecommunications	5.2
Utilities	5.0
Basic Materials	2.4
Technology	1.9
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 2013

	£m
Equities	66,658
Fixed Income	22,494
Total Investments	89,152
Cash	2,884
Other net assets	(42)
Debt	(18,500)
Net assets	73,494
Equity Gearing*	(9.3)%
Net Gearing**	21.2%

*       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 31/12/13	1 month	3 months	6 months	1 year	3 years	5 years
Share Price	248.3p	2.4	6.2	13.0	19.6	51.3	150.6
NAVA	245.0p	1.4	6.3	13.4	25.7	50.9	132.8
FTSE All-Share		1.8	5.5	11.4	20.8	31.0	95.2

Discrete performance (%)*

	31/12/13	31/12/12	31/12/11	31/12/10	31/12/09
Share Price	19.6	29.7	-2.5	20.4	37.5
NAVA	25.7	22.0	-1.5	16.3	32.6
FTSE All-Share	20.8	12.3	-3.5	14.5	30.1

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.

A Including current year revenue.

Source: Aberdeen Asset Managers Limited, Lipper 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 2013 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

21 January 2014

 

END

 

 

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