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BRSC Blackrock Smaller Co Trust Plc

1,338.00
0.00 (0.00%)
Last Updated: 09:51:21
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Blackrock Smaller Co Trust Plc LSE:BRSC London Ordinary Share GB0006436108 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1,338.00 1,332.00 1,338.00 21,130 09:51:21
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -132.65M -140.73M -2.9165 -4.59 645.62M

BlackRock Smll Cos Portfolio Update

15/08/2017 2:31pm

UK Regulatory


 
TIDMBRSC 
 
BLACKROCK SMALLER COMPANIES TRUST PLC (LEI: 549300MS535KC2WH4082) 
 
 
All information is at 31 July 2017 and unaudited. 
Performance at month end is calculated on a capital only basis 
 
                                            One     Three     One    Three      Five 
                                          month    months    year    years     years 
                                              %         %       %        %         % 
 
Net asset value*                            3.1       3.5    37.4     56.1     144.5 
 
Share price*                                1.5       4.9    42.5     53.0     149.2 
 
Numis ex Inv Companies + AIM Index          2.5       2.0    23.1     24.5      71.6 
 
*performance calculations based on a capital only NAV with debt at par, without 
income reinvested. Share price performance calculations exclude income 
reinvestment. 
 
Sources:  BlackRock and Datastream 
 
At month end 
 
Net asset value Capital only(debt at par value):                         1,392.56p 
 
Net asset value Capital only(debt at fair value):                        1,384.56p 
 
Net asset value incl. Income(debt at par value)**:                       1,410.10p 
 
Net asset value incl. Income(debt at fair value)**:                      1,402.10p 
 
Share price                                                              1,203.00p 
 
Discount to Cum Income NAV (debt at par value):                              14.7% 
 
Discount to Cum Income NAV (debt at fair value):                             14.2% 
 
Net yield^^^:                                                                 1.7% 
 
Gross assets^:                                                             GBP746.8m 
 
Gearing range as a % of net assets:                                          0-15% 
 
Net gearing including income (debt at par):                                   9.7% 
 
2017 Ongoing charges ratio^^                                                  0.7% 
 
2017 Ongoing charges ratio (including performance fees):                      1.0% 
 
Ordinary shares in issue#:                                              47,879,792 
 
**includes net revenue of 17.54p 
^includes current year revenue 
^^As reported in the Annual Financial Report for the year ended 28 February 
2017, the ongoing charges ratio is calculated as a percentage of net assets and 
using operating expenses, excluding performance fees, finance costs and 
taxation. 
^^^Yield calculations are based on dividends announced in the last 12 months as 
at the date of release of this announcement, and comprise of the final dividend 
of 13.00 pence per share, (announced on 02 May 2017, ex-dividend on 18 May 
2017) and the interim dividend of 8.00 pence per share (announced on 25 October 
2016 and gone ex-dividend on 3 November 2016). 
#excludes 2,113,731 shares held in treasury. 
 
Sector Weightings                                                   % of portfolio 
 
Industrials                                                                   30.0 
 
Consumer Services                                                             17.7 
 
Financials                                                                    14.1 
 
Consumer Goods                                                                 9.4 
 
Basic Materials                                                                9.2 
 
Health Care                                                                    8.6 
 
Technology                                                                     7.9 
 
Oil & Gas                                                                      2.8 
 
Utilities                                                                      0.3 
 
                                                                             ----- 
 
Total                                                                        100.0 
 
                                                                              ==== 
 
 
 
Ten Largest Equity Investments 
 
Company                                                             % of portfolio 
 
CVS Group                                                                      2.1 
 
Dechra Pharmaceuticals                                                         1.9 
 
4imprint Group                                                                 1.7 
 
Advanced Medical Solutions                                                     1.6 
 
Avon Rubber                                                                    1.6 
 
Bodycote                                                                       1.5 
 
Countryside Properties                                                         1.5 
 
Hill & Smith                                                                   1.5 
 
Headlam Group                                                                  1.3 
 
Workspace Group                                                                1.3 
 
Commenting on the markets, Mike Prentis, representing the Investment Manager 
noted: 
 
During July the Company's NAV per share rose by 3.1% to 1392.56p on a capital 
only basis, whilst the  benchmark (Numis ex Inv Companies + AIM Index) rose by 
2.5%; the FTSE 100 Index rose by 0.9% (all performance figures are on a capital 
only basis and net of ongoing charges and any applicable performance fees). 
 
Stock selection drove outperformance during the month, while sector allocation 
and gearing also contributed positively. 
 
Many of our holdings announced good trading updates during the month. Keywords 
Studios reported preliminary results showing strong growth in revenues and 
profits driven by continued organic growth as well as positive contributions 
from acquisitions. Kaz Minerals has benefited from the strength in the copper 
price, which it is particularly sensitive to, and has also been assisted by 
company specific factors such as their recent statement showed production 
running ahead of 2017 guidance. Bodycote rallied after reporting an 18% 
increase in first half revenues helped by a recovery in its general industrial 
business which has seen a return to growth. 
 
Safestyle, a company engaged in the sale and manufacture of PVCu windows and 
doors, issued a half year trading update warning that revenue growth for the 
second half is expected to be modest given the weaker consumer backdrop. As a 
result profits for the full year will be less than previously anticipated and 
broadly in-line with 2016. Despite the challenging backdrop, with Safestyle's 
end market seeing falling volumes in excess of 10%, the company continues to 
grow and take market share. 
 
Activity during July included a small investment in the IPO of Nexus 
Infrastructure, a UK focused infrastructure business. We also added to our 
holdings in Ultra Electronics and Accesso, both of which are very 
international. 
 
15 August 2017 
 
ENDS 
 
Latest information is available by typing www.blackrock.co.uk/brsc on the 
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV 
terminal).  Neither the contents of the Manager's website nor the contents of 
any website accessible from hyperlinks on the Manager's website (or any other 
website) is incorporated into, or forms part of, this announcement. 
 
 
 
END 
 

(END) Dow Jones Newswires

August 15, 2017 09:31 ET (13:31 GMT)

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