Interim Management Statement

RNS Number : 9161Z

Troy Income & Growth Trust Plc

21 January 2011

 



Troy Income & Growth Trust plc

Interim Management Statement - 3 months to 31 December 2010

To the members of Troy Income & Growth Trust 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 shareholders with an attractive income yield and the prospect of income and capital growth through investing in a portfolio of predominantly UK equities.

Benchmark

FTSE All-Share Index Total Return

Material events

The Company paid on 29 October 2010 a fourth interim dividend for the year ending 30 September 2010 of 0.45p per share to shareholders on the register at close of business on 8 October 2010. The Company announced a first interim dividend for the year ending 30 September 2011 of 0.4725p per share, payable on 28 January 2011 to those on the register at the close of business on 7 January 2011. The Company held its Annual General Meeting on 21 January 2011 at which all resolutions were duly passed. During the period from 1 October 2010 to the date of this announcement (21 January 2011) the Company issued 1,747,250 shares from treasury and bought back 1,330,000 shares into treasury. The current issued share capital (excluding treasury shares) is 112,365,432.

Ten largest equity holdings at 31 December 2010

	% of net assets
Royal Dutch Shell "B"	5.1
Unilever	4.2
Vodafone	4.1
Reynolds American	4.1
Glaxosmithkline	4.0
Diageo	4.0
Imperial Tobacco	3.8
HSBC	3.7
Pennon Group	3.6
BP	3.3
Total	39.9
Total number of investments	38

Sector allocation as at 31 December 2010

	%
Consumer Goods*	27.5
Financials	25.2
Utilities	15.9
Oil & Gas	11.1
Health Care	6.9
Consumer Services	5.5
Telecommunications	4.3
Technology	2.0
Industrials	1.6
Total	100.0

* includes 8.3% in overseas equities

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

	£'000
Equities	54,052
Fixed Income	2,366
	56,418
Other Current assets	821
NET ASSETS	57,239

Cumulative performance (%)*

	as at	3 months	6 months	1 year
	31/12/2010
Share Price	50.50p	6.7	15.0	22.1
NAV*	50.67p	7.4	17.1	14.0
FTSE All-Share		7.4	22.0	14.5

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: Datastream

*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 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.tigt.co.uk and www.taml.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 Troy Income & Growth Trust plc

Steven Cowie, Secretary

21 January 2011

 

END

 

 

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