Interim Management Statement

RNS Number : 9878V

Troy Income & Growth Trust Plc

23 January 2012

 



Troy Income & Growth Trust plc

Interim Management Statement - 3 months to 31 December 2011

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 2011 to 31 December 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 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 28 October 2011 a fourth interim dividend for the year ending 30 September 2011 of 0.5p per share to shareholders on the register at close of business on 7 October 2011. The Company announced a first interim dividend for the year ending 30 September 2012 of 0.5p per share, payable on 27 January 2012 to those on the register at the close of business on 6 January 2012. On 13 December 2011 a block listing of 13,008,620 ordinary shares was obtained for use in connection with the Company's premium control policy. The Company held its Annual General Meeting on 5 January 2012 at which all resolutions were duly passed.  During the period from 1 October 2011 to the date of this announcement (23 January 2012) the Company issued 5,249,987 ordinary shares. The current issued share capital is 131,691,419. There are no shares held in treasury.

Ten largest equity holdings at 31 December 2011

	% of net assets
Royal Dutch Shell "B"	5.2
British American Tobacco	4.3
GlaxoSmithKline	4.2
Imperial Tobacco	4.2
Reynolds American	4.2
BP	4.0
Vodafone	3.9
Diageo	3.7
Pennon Group	3.2
National Grid	3.1
Total	40.0
Total number of investments	44

Sector allocation as at 31 December 2011

	%
Consumer Goods*	25.8
Financials	23.5
Utilities	12.8
Oil & Gas	11.1
Consumer Services	7.4
Health Care	7.2
Telecommunications	4.9
Industrials	3.9
Technology	3.4
Total	100.0

* includes 9.4% in overseas equities

General description of Company's financial position and performance as at 31 December 2011

	£'000
Equities	61,917
Fixed Income	2,111
	64,028
Other Current assets	4,432
NET ASSETS	68,460

Cumulative performance (%)

	as at	3 months	6 months	1 year
	31/12/2011
Share Price	52.75p	7.4	1.9	8.4
NAV*	52.09p	6.3	1.9	6.7
FTSE All-Share		8.4	-6.2	-3.5

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 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.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

23 January 2012

 

END

 

 

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