Replacement - Interim Managem

RNS Number : 1909A

Shires Income PLC

27 January 2011

 



AMENDMENT

The announcement released on 26 January 2011 (RNS No: 1298A) at 14:09hrs showed an incorrect holding. The tenth largest equity holding was originally stated as Standard Life Liquidity Prime and should read National Grid.  Please see below the updated announcement

Shires Income PLC

Interim Management Statement - 3 months to 31 December 2010

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 2010 to 31 December 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 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 2010 to the London Stock Exchange on 15 November 2010. The Company has declared a second interim dividend of 3p per share payable on 31 January 2011 to shareholders on the register on 7 January 2011.

Ten largest equity holdings at 31 December 2010

	% of portfolio
Shires Smaller Companies	6.9
British American Tobacco	4.1
Royal Dutch Shell 'B'	3.6
Vodafone	3.3
Centrica	3.2
HSBC	2.7
BP	2.6
GlaxoSmithKline	2.6
AstraZeneca	2.4
National Grid	2.2
Total	33.6
Total number of investments	48

Sector allocation as at 31 December 2010

	%
Financials*	47.8
Consumer Services	9.6
Consumer Goods	9.5
Oil & Gas	7.7
Industrials	7.6
Utilities	5.6
Health Care	5.4
Telecommunications	3.4
Basic Materials	3.1
Technology	0.3
Total	100.0

* - includes fixed interest and Shires Smaller Companies

General description of Company's financial position and performance as at 31 December 2010

	£m
Equities	52.6
Fixed Income	21.0
Total Investments	73.6
Other net assets	3.2
Debt	(18.5)
Net assets	58.3
Equity Gearing	(9.9)%
Total Gearing	26.2%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	31/12/10
Share Price	192.5p	5.5	3.5	14.2	20.4	2.7	-1.1
NAV	192.2p	7.1	7.0	21.9	17.9	-7.4	-2.2
FTSE All-Share		7.1	7.4	22.0	14.5	4.4	28.4

Discrete performance (%)*

	31/12/10	31/12/09	31/12/08	31/12/07	31/12/06
Share Price	20.4	37.5	-38.0	-16.8	15.8
NAV	17.9	30.7	-39.9	-8.9	15.9
FTSE All-Share	14.5	30.1	-29.9	5.3	16.8

Total Return; NAV to NAV net income reinvested.  GBP.  

Source: Aberdeen Asset Managers Limited, Factset and Morningstar

NAV returns based on NAVs excluding income and with debt valued at par

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

27 January 2011

 

END

 

 

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