Guinness Flght Gd IG - Re Five Months Results
18 6월 1999 - 1:20AM
UK Regulatory
RNS No 0161t
GUINNESS FLIGHT GEARED INCOME & GROWTH TRUST PLC
17 June 1999
PRELIMINARY ANNOUNCEMENT OF RESULTS FOR FIVE MONTHS TO 31 MARCH 1999
Chairman's Statement
Performance
In the five months from the Company's flotation on 2 November 1998 to 31 March
1999, the Company's total assets, excluding income, rose by 6.79% which
compares with rises of 15.57% in the FT-SE All Share Index and 13.92% in the
FT-SE 350 Higher Yield index. The net asset value per Geared Ordinary Share
increased by 36.23% from the issue price, while the Geared Ordinary Share
price rose by 13.0%.
Net revenues in the period were #1,136,807 and the directors declared an
interim dividend paid on 31 March 1999 to Geared Ordinary shareholders at the
rate of 3.31p per share, and to Income shareholders at the rate of 2.37p per
share.
Investment Review
In covering the initial reporting period I can report that for both the equity
and split capital portfolios the trust was able to invest the majority of the
flotation proceeds at attractive price levels. In particular the industrial,
consumer cyclical and resources sectors which we had specifically targeted as
being overly depressed, have since the end of January staged strong
recoveries. This is mainly due to greater optimism over economic prospects
for the UK and the Far East, although weaker fixed interest markets have taken
some of the shine from growth sectors where the trust is structurally
underweight.
Outlook
With the possibility of US rates having to rise in the near future and some
uncertainty creeping into UK fixed interest markets, there are some risks of a
short term correction. The need to consider absolute as well as relative
returns will always be of fundamental importance to our investment strategy,
and with that in mind we have retained an element of liquidity in order to
take advantage of any setback in the market.
Fred Carr
STATEMENT OF TOTAL RETURN (incorporating the Revenue Account)
for the period 29 October 1998 to 31 March 1999
(Unaudited)
Period Ended
31 March 1999
Revenue Capital Total
# # #
Gains on
investments - 4,408,593 4,408,593
Income 1,650,648 - 1,650,648
Investment management
fee (53,124) (123,955) (177,079)
Other expenses (43,618) - (43,618)
-------- --------- ---------
Net return before
finance costs and
taxation 1,553,906 4,284,638 5,838,544
Interest payable (149,369) (348,528) (497,897)
--------- --------- ---------
Return on
ordinary activities
before taxation 1,404,537 3,936,110 5,340,647
Tax on ordinary
activities (267,730) 79,809 (187,921)
-------- --------- ---------
Return on ordinary
activities after
taxation 1,136,807 4,015,919 5,152,726
Dividends and other
appropriations
in respect of non-equity
shares (812,661) (506,567) (1,319,228)
-------- ------- ---------
Return attributable to
Geared Ordinary
shareholders 324,146 3,509,352 3,833,498
Interim dividend paid
to Geared Ordinary
shareholders (200,255) - (200,255)
-------- --------- ---------
Transfer to
Reserves 123,891 3,509,352 3,633,243
======== ========= =========
Return per Geared
Ordinary share 5.36p 58.00p 63.36p
Return per
Income share 3.84p
Interim dividend paid
per Geared Ordinary
share 3.31p
Interim dividend paid
per Income share 2.37p
CONSOLIDATED BALANCE SHEET
(UNAUDITED)
AS AT 31 MARCH 1999
Listed Investments 57,252,940
Current Assets:
Debtors 1,217,841
Cash at bank 6,151,068
---------
7,368,909
Creditors: amounts
falling due within
one year 1,112,471
---------
Net Current Assets 6,256,438
----------
63,509,378
Creditors: amounts falling
due after more than one
year - Bank Loan (18,150,000)
----------
Net assets 45,359,378
----------
CAPITAL AND RESERVES
Called up share
capital 2,117,500
Share premium 38,791,255
Redemption reserve 506,567
Capital reserve
-realised (198,712)
Capital reserve
-unrealised 3,708,064
Revenue reserve 434,704
----------
Total shareholders' 45,359,378
Funds ----------
Net asset value per
Income Share 101.47p
Net asset value per
Zero Dividend
Preference Share 103.35p
Net asset value per
Geared Ordinary Share 136.23p
Approved by the board of Directors on 17 June 1999.
END
MSCCCOCDADKDNAD
Greatfleet (LSE:GFG)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Greatfleet (LSE:GFG)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024
