Interim Results
Fleming American Inv Trust PLC
9 August 2001
THE FLEMING AMERICAN INVESTMENT TRUST PLC
STOCK EXCHANGE ANNOUNCEMENT
Unaudited Results for the half year ended 30th June, 2001
9th August 2001
The Fleming American Investment Trust plc today announced its unaudited
results for the half year ended 30th June 2001.
* Company outperforms benchmark index over 6 month period
* Share price increases by 0.8% over 6 month period
The net asset value per ordinary share decreased by 0.5% over the period to
875.9p as at 30th June 2001, compared with the S&P 500 Composite Index, in
Sterling terms, which fell by 1.5%.
The share price recorded a 0.8% increase as the 0.4% discount at the end of
December moved to a 0.8% premium as at the period end.
Fraser Easton
for JP Morgan Fleming Asset Management (UK) Limited - Secretary...020 7742 6000
THE FLEMING AMERICAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH June 2001
2001 2000
£'000 £'000
REVENUE
Income
Franked investment income - 320
Overseas dividends 2,565 2,164
Overseas interest 221 145
Deposit interest 1,006 309
_______ _______
Gross Revenue 3,792 2,938
Less:
Management fee 288 275
Other administrative expenses 167 133
Interest payable 533 182
_______ _______
Return before Taxation 2,804 2,348
Less: Taxation 1,066 792
_______ _______
Return available to ordinary shareholders 1,738 1,556
===== =====
2001 2000
£'000 £'000
CAPITAL
Movements on investments (1,538) 81,642
Less: Expenses charged to capital (1,149) (1,099)
Less: Interest charged to capital (2,135) (729)
_____ _____
Return before Taxation (4,822) 79,814
Taxation 667 346
_______ _______
Return attributable to ordinary shareholders (4,155) 80,160
===== =====
Dividends per ordinary share Nil Nil
Revenue return per ordinary share 2.89p 2.44p
Capital return per ordinary share (6.92)p 125.91p
Total return per ordinary share (4.03)p 128.35p
===== =====
THE FLEMING AMERICAN INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 2001
2001 2000
£'000 £'000
BALANCE SHEET
Investments at valuation 588,890 629,350
Net current Assets 15,101 36,133
Creditors: amounts falling due after more than one year (77,920) (75,900)
Deferred taxation - (100)
_______ _______
Total net assets 526,071 589,483
===== =====
Net asset value per ordinary share 875.9p 989.2p
CASH FLOW STATEMENT
2001 2000
£'000 £'000
Net cash inflow from operating activities 1,718 1,099
Net cash outflow from returns on servicing of finance (2,676) (912)
Total tax recovered 149 528
Net cash (outflow)/inflow from capital expenditure and (19,618) 50,703
financial investment
Total equity dividends paid (3,423) (1,482)
Net cash inflow/(outflow) from financing 14 (19,420)
_______ ______
(Decrease)/increase in cash for the period (23,836) 30,516
===== ====
The above financial information does not constitute statutory accounts as
defined in Section 240 of the Companies Act 1985. Statutory accounts for the
period ended 31st December 2000 have been delivered to the Registrar of
Companies.
JP Morgan Fleming Asset Management -
9th August 2001
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