Final Results - Year Ended 31 December 1999
Fleming American Inv Trust PLC
18 February 2000
THE FLEMING AMERICAN INVESTMENT TRUST PLC
Unaudited Results for the year ended 31st December, 1999
The Fleming American Investment Trust plc today
announced its unaudited results for the year ended
31st December, 1999.
The fully diluted net asset value per ordinary share
increased by 20.0% over the period to 830.6p as
at 31st December 1999, compared with the S&P
500 Composite Index, in Sterling terms, which
increased by 23.4%.
The Directors propose that a dividend of 2.3 pence
per share be paid on 4th May 2000 to holders on
the register at the close of business on 7th
April 2000 subject to approval by shareholders at
the Annual General Meeting. (Ex-dividend date
3rd April 2000).
Fraser Easton
For the Secretary
The Fleming American Investment Trust Plc
0171 880 3425
THE FLEMING AMERICAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE YEAR ENDED 31ST DECEMBER 1999
1999 1998
£'000 £'000
REVENUE
Income
Franked dividends 354 382
Overseas dividends 5,616 6,381
Overseas interest 1,017 1,551
Scrip dividends - 59
Deposit interest 278 576
___ _____
Gross Revenue 7,265 8,949
Less Management fee 2,650 2,295
Other administrative
expenses 596 299
Interest payable 1,775 1,781
______ _____
Return before taxation 2,244 4,574
Less Taxation 596 1,422
_____ _____
Return after taxation 1,648 3,152
Less Dividends on
preference shares 5 32
_____ _____
Total return available to
ordinary shareholders 1,643 3,120
==== ====
Dividend per ordinary share 2.30p 2.90p
1999 1998
£'000 £'000
CAPITAL
Movements on investments 94,561 62,265
Performance fee adjustment - 671
______ ______
Return attributable to
ordinary shareholders 94,561 62,936
======= =======
Revenue return per
ordinary share 2.34p 4.46p
Capital return per
ordinary share 134.4 89.88p
Total return per
ordinary share 136.78p 94.34p
At 31 December 1999
Net Asset Value per
Ordinary Share (undiluted ) 830.6p 724.6p
Net Asset Value per Ordinary
Share (diluted ) 830.6p 692.0p
THE FLEMING AMERICAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE YEAR ENDED 31ST
DECEMBER 1999
CASH FLOW STATEMENT
1999 1998
£'000 £'000
Net cash inflow from operating
activities 3,159 4,136
Net cash outflow from returns
on investments and
servicing of finance (1,780) (1,813)
Total tax recovered/(paid) 447 (383)
Net cash inflow/(outflow)
from capital expenditure
and financial investment 30,513 (8,189)
Total equity dividends paid
on ordinary shares (2,037) (1,865)
Net cash (outflow)/inflow
from financing (32,603) 5,986
____ _____
Increase/(decrease) in cash
for the year 2,301 (2,128)
===== ====
The above financial information does not
constitute statutory accounts as defined in
Section 240 of the Companies Act 1985. The
comparative financial information is based on the
statutory accounts for the year ended 31st December
1998. These accounts, upon which the auditors
issued an unqualified opinion, have been delivered
to the Registrar of Companies.
FLEMING INVESTMENT TRUST MANAGEMENT LIMITED
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