Interim Results - 6 Months to 31 December 1999
Fleming Mid Cap Inv Tst PLC
1 March 2000
THE FLEMING MID CAP INVESTMENT TRUST PLC
PRELIMINARY ANNOUNCEMENT OF INTERIM RESULTS
The Directors of The Fleming Mid Cap Investment
Trust plc today announce the Company's results for
six months ended 31st December 1999.
In the six months to 31st December 1999 the
Company's net asset value per share increased by
20.5%, which was a strong out-performance of the
Company's benchmark, the FTSE 250 (ex-Investment
Trusts) Index, which increased by 9.1% in the same
period. The Company's share price rose by 21.5%
during the period, with the discount to net asset
value narrowing from 19.0% to 18.3%.
The Directors have declared an interim dividend of
1.55p (1998: 1.55p) per share payable on 3rd
April 2000 to shareholders on the register at the
close of business on 17th March 2000.
Fleming Investment Trust Management Limited -
Secretary
1st March 2000
For further information, please contact:
Jonathan Latter
Fleming Investment Trust Management Limited
0171 638 5858
THE FLEMING MID CAP INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED
31ST DECEMBER 1999
1999 1998
£'000 £'000
REVENUE
Income
Franked dividends 1,772 1,332
Foreign income dividends - 232
Overseas dividends - 5
Scrip dividends 36 59
Deposit interest 43 23
Underwriting commissions 3 -
_____ _____
Gross Revenue 1,854 1,651
Less Management fee 205 197
Other administrative expenses 169 95
Interest payable 408 550
______ _____
Return before Taxation 1,072 809
Less Taxation 186 269
____ _____
Return attributable to
ordinary shareholders 886 540
==== ====
Dividends per ordinary
share 1.55p 1.55p
1999 1998
£'000 £'000
CAPITAL
Movements on investments 30,566 (26,197)
Less: Expenses charged to
Capital 1,431 746
______ ______
Return before taxation 29,135 (26,943)
Taxation 9 4
______ _____
Return attributable to
ordinary shareholders 29,144 (26,939)
===== =====
Revenue return per ordinary
share 2.23p 1.35p
Capital return per ordinary
share 73.21p (67.35)p
Total return per ordinary
share 75.44p (66.00)p
At 31 December 1999
Total Net Assets (£'000) 174,808 125,677
Net Asset Value per Ordinary
Share 443.3p 314.2p
THE FLEMING MID CAP INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED
31ST DECEMBER 1999
CASH FLOW STATEMENT
1999 1998
£'000 £'000
Net cash inflow from
operating activities 1,020 1,316
Net cash outflow from returns
on investments and servicing
of finance (1,066) (1,100)
Net cash inflow from capital
expenditure and financial
investment 3,403 3,364
Total equity dividends paid (1,500) (1,500)
Net cash inflow from
financing 3,678 -
_____ _____
Increase in cash in the
period 5,535 2,080
==== ====
The above financial information does not
constitute statutory accounts as defined in
Section 240 of the Companies Act 1985.
Statutory accounts for the year ended 30th June
1999 have been delivered to the Registrar of
Companies.
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