Interim Management Statement

RNS Number : 0029L

Troy Income & Growth Trust Plc

25 July 2011

 



Troy Income & Growth Trust plc

Interim Management Statement - 3 months to 30 June 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 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 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 22 April 2011 a second interim dividend for the year ending 30 September 2011 of 0.4725p per share to shareholders on the register at close of business on 8 April 2011. The Company announced a third interim dividend for the year ending 30 September 2011 of 0.4725p per share, payable on 29 July 2011 to those on the register at the close of business on 8 July 2011. During the period from 1 April 2011 to the date of this announcement (25 July 2011) the Company issued 8,950,000 shares from treasury and bought back 875,000 shares into treasury. The current issued share capital (excluding treasury shares) is 118,216,432.

Ten largest equity holdings at 30 June 2011

	% of net assets
Royal Dutch Shell "B"	4.9
British American Tobacco	4.0
GlaxoSmithKline	4.0
Unilever	3.9
Vodafone	3.8
Reynolds American	3.8
Imperial Tobacco	3.7
Diageo	3.5
Centrica	3.4
Pennon Group	3.3
Total	38.3
Total number of investments	39

Sector allocation as at 30 June 2011

	%
Consumer Goods*	28.7
Financials	27.0
Utilities	12.6
Oil & Gas	10.7
Health Care	7.0
Consumer Services	5.3
Telecommunications	4.1
Industrials	2.6
Technology	2.0
Total	100.0

* includes 9.0% in overseas equities

General description of Company's financial position and performance as at 30 June 2011

	£'000
Equities	54,646
Fixed Income	2,213
	56,859
Other Current assets	4,389
NET ASSETS	61,248

Cumulative performance (%)

	as at	3 months	6 months	1 year
	30/06/2011
Share Price	52.75p	4.4	6.4	22.4
NAV*	52.09p	3.1	4.7	22.5
FTSE All-Share		1.9	3.0	25.6

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 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.tigt.co.uk and 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

25 July 2011

 

END

 

 

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