Interim Management Statement

RNS Number : 8730B

Shires Smaller Companies PLC

03 November 2009

 



Shires Smaller Companies plc

Interim Management Statement - 3 months to 30 September 2009

To the members of Shires Smaller Companies 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 July 2009 to 30 September 2009, 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 a high and growing dividend and capital growth from a portfolio invested principally in the ordinary shares of small companies and UK fixed income securities.

Benchmark

FTSE SmallCap Index (ex Investment Companies) total return

Ten largest equity holdings at 30 September 2009

	% of net assets
McBride	3.4
Chesnara	2.5
Chaucer	2.4
Brit Insurance	2.3
XP Power	2.3
James Fisher and Sons	2.1
Interserve	1.9
Mothercare	1.8
TT Electronics	1.7
Weir	1.7
Total	22.1
Total number of investments	63

Sector allocation as at 30 September 2009

	%
Industrials	48.5
Financials	17.7
Consumer Services	15.1
Consumer Goods	9.7
Basic Materials	3.8
Health Care	3.8
Technology	1.4
Total	100.0

General description of Company's financial position and performance as at 30 September 2009

	£m
Gross Assets	37.7
Net assets	25.4
Equity Gearing	(9.3)%
Total Gearing	48.3%

Cumulative performance (%)

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/09/2009
Share Price	95.0p	1.1	28.0	98.4	2.3	-48.2	-24.2
NAV	113.1p	8.9	40.0	77.7	5.6	-43.4	-15.1
FTSE SmallCap ex IC		7.4	35.2	79.5	25.5	-18.9	14.9

Discrete performance (%)

	30/09/2009	30/09/2008	30/09/2007	30/09/2006	30/09/2005
Share Price	2.3	-51.6	4.8	-1.2	47.9
NAV A	5.6	-49.6	6.5	9.6	36.8
FTSE SmallCap ex IC	25.5	-38.4	4.8	14.9	23.4

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. NAV returns based on NAVs with debt valued at par.

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

A Excluding current year revenue.

On 1 October 2009, the Company declared a third interim dividend of 1.75p per share in respect of the year to 31 December 2009 payable on 30 October 2009 to shareholders on the register at close of business on 9 October 2009.

Other than as set out above, the Board is not aware of any significant events or transactions which have occurred between 30 September 2009 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.shiressmallercompanies.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 Shires Smaller Companies plc

Aberdeen Asset Management PLC, Secretary

3 November 2009

 

END

 

 

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