Interim Management Statement

RNS Number : 7681J

Troy Income & Growth Trust Plc

19 July 2013

 



Troy Income & Growth Trust plc

Interim Management Statement - 3 months to 30 June 2013

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 April 2013 to 30 June 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 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 26 April 2013 a second interim dividend for the year ending 30 September 2013 of 0.525p per share to shareholders on the register at close of business on 5 April 2013. The Company announced a third interim dividend for the year ending 30 September 2013 of 0.525p per share, payable on 26 July 2013 to those on the register at the close of business on 5 July 2013.  The Board intends to consider the final dividend before the financial year end and barring unforeseen circumstances this will at least be at the rate of 0.525p per share.

During the period from 1 April 2013 to the date of this announcement (19 July 2013) the Company issued 5,810,000 ordinary shares. The current issued share capital is 241,424,445. There are no shares held in treasury.

Ten largest equity holdings at 30 June 2013

	% of net assets
British American Tobacco	3.7
HSBC Holdings	3.6
Vodafone	3.6
GlaxoSmithKline	3.6
Reynolds American	3.6
Royal Dutch Shell "B"	3.4
Reckitt Benckiser Group	3.3
Centrica	3.2
BP	3.1
Unilever	3.0
Total	34.1
Total number of investments	46

Sector allocation as at 30 June 2013

	%
Consumer Goods*	25.1
Financials	22.4
Utilities	13.6
Consumer Services	8.7
Oil & Gas	8.5
Health Care	6.8
Technology†	5.0
Telecommunications	4.9
Industrials	3.6
Basic Materials•	1.4
Total	100.0

* includes 8.5% in overseas equities

† includes 2.2% in overseas equities

• includes 1.4% in overseas equities

General description of Company's financial position and performance as at 30 June 2013

	£'000
Equities	138,187
Fixed Income	531
	138,718
Other Current Assets	4,321
NET ASSETS	143,039

Cumulative performance (%)

	as at	3 months	6 months	1 year
	30/06/2013
Share Price	60.25p	-0.8	10.5	12.8
NAV*	58.85p	-1.0	10.1	13.6
FTSE All-Share		-1.7	8.5	17.9

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.

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 30 June 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.tigt.co.uk and the Troy Asset Management website 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

19 July 2013

 

END

 

 

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