Interim Management Statement

RNS Number : 8084K

Shires Income PLC

21 July 2011

 



Shires Income PLC

Interim Management Statement - 3 months ended 30 June 2011

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 April 2011 to 30 June 2011, 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 for shareholders 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 Annual Financial Report on 1 June 2011 and posted its Annual Report to shareholders shortly thereafter.

On 5 July 2011, the Company held its Annual General Meeting. All resolutions were passed at the meeting.

On 29 July 2011, the Company will pay a final dividend of 3.00p per share for the year ended 31 March 2011 to shareholders on the register on 8 July 2011

Ten largest equity holdings at 30 June 2011

		% of portfolio
Aberdeen Smaller Companies High Income Trust		6.9
British American Tobacco		4.3
Royal Dutch Shell 'B'		3.8
Vodafone		3.3
Centrica		3.1
GlaxoSmithKline		2.9
AstraZeneca		2.6
BP		2.6
National Grid		2.5
HSBC		2.3
Total		34.3

Sector allocation as at 30 June 2011

		%
Financials*		52.1
Consumer Services		8.7
Consumer Goods		8.6
Oil & Gas		7.1
Industrials		6.6
Health Care		5.3
Utilities		5.3
Telecommunications		3.1
Basic Materials		2.9
Technology		0.3
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 30 June 2011

	£m
Equities	53.3
Fixed Income	21.1
Total Investments	74.5
Other Net Assets	3.4
Debt	(18.5)
Net Assets	59.4
Equity Gearing	(10.2)%
Total Gearing	25.4%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/06/2011
Share Price	196.3	1.9	4.9	5.1	20.0	25.8	-4.3
NAV	193.9	-1.3	1.1	4.0	26.8	22.8	-0.8
FTSE All-Share		-0.5	1.9	3.0	25.6	21.0	24.6

Discrete performance (%)*

	30/06/2011	30/06/2010	30/06/2009	30/06/2008	30/06/2007
Share Price	20.0	42.3	-26.3	-27.5	4.9
NAV	26.8	40.0	-30.8	-30.2	15.9
FTSE All-Share	25.6	21.1	-20.5	-13.0	18.4

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 30 June 2011 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 July 2011

 

END

 

 

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