Interim Management Statement

RNS Number : 3017A

Glasgow Income Trust PLC

31 July 2008

 



Glasgow Income Trust PLC

Interim Management Statement - 3 months to 30 June 2008

To the members of Glasgow Income 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 2008 to 30 June 2008, 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 achieve a high level of income and to obtain growth in both income and capital over the longer term. 

Benchmark

FTSE All-Share Index Total Return

Material events 

There were no material events arising up to the 30 June 2008.

Ten largest equity holdings at 30 June 2008

	% of net assets
Premier Oil	2.6
FirstGroup	2.5
Intermediate Capital	2.1
BT	1.9
BP	1.8
First Quantum Minerals	1.8
Prudential	1.8
Rio Tinto	1.7
Hardy Oil and Gas	1.6
HSBC	1.6
Total	19.4
Total number of investments	95

Sector allocation as at 30 June 2008

	%
Financials	23.0
Consumer Services	15.8
Industrials	15.7
Oil & Gas	15.1
Basic Materials	9.8
Utilities	8.2
Consumer Goods	6.3
Telecommunications	4.6
Health Care	1.5
Total	100.0

General description of Company's financial position and performance as at 30 June 2008

	£m
Equities	86.9
Fixed Income	44.3
Total Investments	131.2
Other Current assets	13.3
Zero Coupon Finance	(60.9)
NET ASSETS	83.6
Equity Gearing	3.9%
Total gearing	56.9%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/06/2008
Share Price	60.5p	-13.3	-6.5	-18.4	-38.1	-9.1	33.0
NAV*	66.8p	-12.4	-10.9	-21.8	-28.9	7.7	67.6
FTSE All-Share		-7.1	-1.4	-11.2	-13.0	23.2	71.0

Discrete performance (%)*

	30/06/08	30/06/07	30/06/06	30/06/05	30/06/04
Share Price	-38.1	23.1	19.4	29.1	13.5
NAV	-28.9	19.4	26.9	22.8	26.7
FTSE All-Share	-13.0	18.4	19.7	18.7	16.9

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: Aberdeen Asset Managers Limited, Factset, Financial Times and Fundamental Data

*Excluding current year revenue

The Company has bought back 528,985 shares into treasury up to the date of this statement. The current issued share capital (excluding treasury shares) is 121,413,532. 

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 June 2008 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.glasgowincometrust.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 Glasgow Income Trust PLC

Aberdeen Asset Managers plc, Secretary

31 July 2008

 

END

 

 

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