Interim Results
Fleming Claverhouse Inv Trust PLC
30 August 2001
STOCK EXCHANGE ANNOUNCEMENT
THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
Unaudited results for the six months ended 30th June 2001
The Directors of The Fleming Claverhouse Investment Trust plc today announce
the Company's results for the six months ended 30th June 2001.
In the six months since the end of the financial year on 31st December 2000,
the Company's net asset value per share decreased by 6.4% to 466.6 pence and
the share price by 8.8% to 472.5 pence. These results compare with a decrease
of 8.6% in the Company's benchmark, the FTSE All-Share Index. Total return on
net assets for the period was -5.8%, compared with the benchmark total
return of -7.3%.
The Directors have already declared a second interim dividend of 2.00 pence
per ordinary share (2000: 1.70p). This is payable on 3rd September 2001 to
shareholders on the register at the close of business on 10th August 2001.
J.P Morgan Fleming Asset Management (UK) Limited - Secretary
30th August 2001
For further information, please contact:
Jonathan Latter
J.P Morgan Fleming Asset Management (UK) Limited
020 7742 6000
THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 2001
2001 2000
£'000 £'000
REVENUE
Income
Franked dividends 5,857 3,823
Interest from investments - 2
Script dividends 216 34
Deposit interest 399 232
Stock lending Fees - 10
_______ _______
Gross Revenue 6,472 4,101
Less:
Management fee 561 449
Other administrative expenses 249 125
Interest payable 904 512
_______ _______
Return before Taxation 4,758 3,015
Less: Taxation 74 47
_______ _______
Return available to ordinary shareholders 4,684 2,968
===== =====
2001 2000
£'000 £'000
CAPITAL
Movements on investments (25,325) (13,127)
Less: Expenses charged to capital 1,040 834
Less: Finance costs charged to capital 1,678 951
Less: Unrealised performance fee 624 -
_______ _______
Return attributable to ordinary shareholders (28,667) (14,912)
Taxation 74 47
_______ _______
Return attributable to ordinary shareholders (28,593) (14,865)
===== =====
Dividends per ordinary share 4.00 p 3.40 p
Revenue return per ordinary share 5.76 p 4.53 p
Capital return per ordinary share (35.14)p (22.66)p
Total return per ordinary share (29.38)p (18.13)p
===== =====
THE FLEMING CLAVERHOUSE INVESTMENT TRUST PLC
UNAUDITED FIGURES FOR THE HALF YEAR ENDED 30TH JUNE 2001
2001 2000
£'000 £'000
BALANCE SHEET
Investments at valuation 441,824 374,473
Net current assets 13,660 7,702
Net non current liabilities (69,681) (29,654)
_______ _______
Total net assets 385,803 352,521
===== =====
Net asset value per ordinary share 466.6p 512.3p
CASH FLOW STATEMENT
2001 2000
£'000 £'000
Net cash inflow from operating activities 4,128 2,505
Net cash outflow from returns on servicing of finance (2,264) (1,451)
Total tax paid (89) -
Net cash outflow from capital expenditure and (56,779) (14,186)
financial investment
Total equity dividends paid on ordinary shares (3,830) (2,531)
Net cash inflow from financing 71,202 24,496
_______ ______
Increase in cash for the period 12,368 8,833
===== ====
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.
J.P. Morgan Fleming Asset Management (UK) Limited
30th August 2001
Latest directors dealings
- 6 hours ago Savannah Energy
- 7 hours ago Buccaneer Energy PLC
- 7 hours ago Savannah Energy
- 7 hours ago Carclo
- 7 hours ago Schroder Japan Growth Fund