Interim Management Statement

RNS Number : 1035W

Glasgow Income Trust PLC

22 July 2009

 



Glasgow Income Trust PLC

Interim Management Statement - 3 months to 30 June 2009

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 2009 to 30 June 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 shareholders with 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 2009.

Ten largest equity holdings at 30 June 2009

	% of net assets
BP	2.8
HSBC	2.7
Centrica	2.5
Prudential	2.4
Astrazeneca	2.3
Diageo	2.3
Provident Financial	2.2
Tesco	2.2
National Grid	2.1
Close Bros	1.9
Total	23.4
Total number of investments	75

Sector allocation as at 30 June 2009

	%
Financials	27.3
Consumer Services	21.7
Consumer Goods	12.8
Utilities	10.3
Oil & Gas	8.8
Industrials	7.9
Health Care	4.9
Telecommunications	4.4
Basic Materials	1.9
Total	100.0

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

	£'000
Equities	42,776
Fixed Income	16,758
Total Investments	59,534
Other Current assets	23,220
Zero Coupon Finance	(38,488)
NET ASSETS	44,266
Equity Gearing	(3.4%)
Total gearing	86.9%

Cumulative performance (%)*

	as at	1 month	3 months	6 months	1 year	3 years	5 years
	30/06/2009
Share Price	32.5p	-5.8	47.1	6.8	-40.3	-54.5	-30.0
NAV*	35.2p	-1.3	18.0	-6.5	-41.9	-50.7	-23.1
FTSE All-Share		-3.2	10.9	0.8	-20.5	-18.1	16.3

Discrete performance (%)*

	30/06/09	30/06/08	30/06/07	30/06/06	30/06/05
Share Price	-40.3	-38.1	23.1	19.4	29.1
NAV	-41.9	-28.9	19.4	26.9	22.8
FTSE All-Share	-20.5	-13.0	18.4	19.7	18.7

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, and Fundamental Data

*Excluding current year revenue

The Board is not aware of any significant events or transactions which have occurred between 30 June 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 the latest 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 Management PLC, Secretary

22 July 2009

 

END

 

 

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