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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Gi Group Poland Spolka Akcyjna | LSE:GIG | London | Ordinary Share | PLWRKSR00019 | ORD BR PLN0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 51.00 | 2.00 | 100.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0429P Gartmore British Inc & Gwth Tst PLC 4 August 2000 UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2000 Chairman's Statement Performance/Asset Values For the six months under review ended 30 June 2000, the total return on capital employed (with net dividends re-invested) was a loss of 5.2 per cent. This compares with a negative return of 5.7 per cent. for the FTSE All-Share Index and a positive return of 3.7 per cent. on the Dresdner Kleinwort Benson TOPSI-100 Index of higher-yielding shares. The Total Assets of the Group fell 6.5 per cent. in the period which matched the fall in the FTSE All-Share Index in the six months to 30 June 2000. The asset value performance of the Company's securities is set out below. Dividends Second interim dividends of 1.73p net (1.70p - 1999) per Income Share and 1.07p net (1.05p - 1999) per Ordinary Share were declared on 1 August 2000, payable on 31 August 2000 to shareholders on the register on 11 August 2000. Outlook The stable economic conditions in the UK economy continue to provide a favourable backdrop to equity investment. They have also strengthened Government finances which underpin the recently announced increases in public expenditure. Despite this the FTSE All Share Index continues to drift sideways with no clear sector leadership. Vodafone, the largest stock in the UK stockmarket remains highly volatile and is a key influence on overall market movements. Equities continue to gain support from a build up in institutional liquidity, strong corporate activity and upgrades to earnings growth notably in the oil sector. With this relatively positive background, and the likelihood that UK short term interest rates are close to their peak, equities in this country should recoup some of their recent underperformance. Other Matters Shareholders will have received my letter of 28 June 2000 advising that the Board had completed a programme of presentations from a number of fund management houses and had agreed to proceed with the appointment of Aberdeen Asset Managers Limited to take effect from 1 July 2000. The Board is proposing a placing and open offer, an adjustment to the investment policy and that the Company's name be changed to The Income & Growth Trust PLC and that of its subsidiary to Income & Growth Securities PLC. Details are contained in the document which is being posted to Shareholders today. The Directors believe the Proposals will be of benefit to all shareholders. The Rt. Hon. The Lord Marsh of Mannington, Kt Chairman 4 August 2000 Financial Statistics At At 31 30 June December Change 2000 1999 % Capital Total assets less current liabilities (#'000) 90,816 97,127 (6.5) FTSE All-Share Index 3,029.7 3,242.1 (6.5) Dresdner Kleinwort Benson TOPSI-100 Index 4,912.1 4,845.6* 1.4 Capital Employed (#'000) 90,816 97,127 (6.5) Market Capitalisation of shares in issue (#'000) 91,169 96,151 (4.7) Net Asset Value per Ordinary share 66.8p 109.1p (38.8) Mid-market Price per Ordinary share 61.0p 73.0p (16.4) Net Asset Value per Income share 70.0p 70.0p - Mid-market Price per Income share 74.0p 81.0p (8.6) Net Asset Value per ZDP Share 2002 189.8p 182.1p 4.2 Mid-market Price per ZDP Share 2002 197.75p 197.25p 0.3 Net Asset Value per ZDP Share 2006 189.6p 181.9p 4.2 Mid-market Price per ZDP Share 2006 182.25p 184.75p (1.4) *Revised by Dresdner Kleinwort Benson Six Six months to months to 30 June 30 June 2000 1999 Revenue Revenue return before and after taxation (#'000) 1,613 1,512 Dividends per Income Share 3.46p 3.40p Dividends per Ordinary Share 2.14p 2.10p Revenue return per Ordinary Share 3.22p 2.81p Total Return Revenue Return per Ordinary Share: Revenue 3.22p 2.81p Capital (43.33p) 31.33p ________ ________ (40.11p) 34.14p ======== ======== Total Return on: Capital Employed** (5.2%) 11.5% FTSE All-Share Index (5.7%) 11.2% Dresdner Kleinwort Benson TOPSI-100 Index 3.6% 22.7% **Net dividends reinvested Analysis of Total Assets and Capital Employed Valuation at Trans- Net Valuation at 31 December 1999 actions Appreciation/ 30 June 2000 (Depreciation) #'000 % #'000 #'000 #'000 % Listed Investments Equities 92,682 95.4 (4,678) (6,212) 81,792 90.1 Convertibles 3,691 3.8 1,187 (122) 4,756 5.2 ______ _____ _____ _____ ______ _____ Total Listed Investments 96,373 99.2 (3,491) (6,334) 86,548 95.3 Net Current Assets 754 0.8 3,514 - 4,268 4.7 ______ _____ _____ _____ ______ _____ Total Assets less Current Liabilities 97,127 100.0 23 (6,334) 90,816 100.0 ______ _____ _____ _____ ______ _____ Attributable to: ZDP Shares 2002 37,330 38.5 - 1,579 38,909 42.8 ZDP Shares 2006 18,188 18.7 - 770 18,958 20.9 Income Shares 19,250 19.8 - - 19,250 21.2 Ordinary Shares 22,359 23.0 - (8,660) 13,699 15.1 ______ _____ _____ _____ ______ _____ Capital Employed 97,127 100.0 - (6,311) 90,816 100.0 ====== ===== ===== ===== ====== ===== Group Total Return To 30 June 2000 Six months to 30 June 2000 Total Revenue Capital Return #'000 #'000 #'000 Income and Capital Profits Dividends and other income 1,857 - 1,857 Net profit/(loss) on listed investments - (6,334) (6,334) _____ ______ ______ Return before Expenses and Taxation 1,857 (6,334) (4,477) Expenses Management fees (170) (139) (309) Other expenses (74) (30) (134) _____ ______ ______ Return before and after Taxation 1,613 (6,533) (4,920) Appropriated to Non-Equity Shareholders Minority interest: ZDP Shares 2006: Redemption premium reserve - (770) (770) _____ ______ ______ 1,613 (7,303) (5,690) Redemption premium reserve - ZDP Shares 2002 - (1,579) (1,579) _____ ______ ______ 1,613 (8,882) (7,269) Dividends on the Income Shares - 3.46p per share (952) - (952) _____ ______ ______ Return to Equity Shareholders 661 (8,882) (8,221) Appropriated to Equity Shareholders Dividends on the Ordinary Shares- 2.14p per share (439) - (439) _____ ______ ______ 222 (8,882) (8,660) Transferred to/(from) Reserves: Ordinary Shares 222 (8,882) (8,660) _____ ______ ______ Total Return per Ordinary Share 3.22p (43.33p) (40.11p) ===== ====== ====== Group Total Return To 30 June 1999 Six months to 30 June 1999 Total Revenue Capital Return #'000 #'000 #'000 Income and Capital Profits Dividends and other income 1,760 - 1,760 Net profit/(loss) on listed investments - 8,776 8,776 _____ ______ ______ Return before Expenses and Taxation 1,760 8,776 10,436 Expenses Management fees (183) (150) (333) Other expenses (65) (53) (118) _____ ______ ______ Return before and after Taxation 1,512 8,573 10,085 Appropriated to Non-Equity Shareholders Minority interest: ZDP Shares 2006: Redemption premium reserve - (705) (705) _____ ______ ______ 1,512 7,868 9,380 Redemption premium reserve- ZDP Shares 2002 - (1,445) (1,445) _____ ______ ______ 1,512 6,423 7,935 Dividends on the Income Shares- 3.40p per share (935) - (935) _____ ______ ______ Return to Equity Shareholders 577 6,423 7,000 Appropriated to Equity Shareholders Dividends on the Ordinary Shares - 2.10p per share (431) - (431) _____ ______ ______ 146 6,423 6,569 Transferred to/(from) Reserves: Ordinary Shares 146 6,423 6,569 _____ ______ ______ Total Return per Ordinary Share 2.81p 31.33p 34.14p ===== ====== ====== Group Balance Sheet As at 30 June 2000 At 30 At 31 June December 2000 1999 #'000 #'000 Fixed Assets Listed investments valued at mid-market prices 86,548 96,373 Current Assets Debtors: Amounts receivable within one year 403 419 Short-term deposits 4,652 1,129 Bank balances 10 10 ______ ______ 5,065 1,558 Creditors: Amounts payable within one year 797 804 ______ ______ Net Current Assets 4,268 754 ====== ====== Total Assets, less Current Liabilities 90,816 97,127 ====== ====== Capital and Reserves Called-up share capital 28,435 28,435 Share premium account 19,700 19,700 Redemption premium reserve- ZDP Shares 2002 12,874 11,295 Other capital reserves: Capital reserve 2,154 2,200 Unrealised appreciation/(depreciation) of listed investments 8,268 17,104 Revenue reserve 427 205 ______ ______ 71,858 78,939 Minority interest: ZDP Shares 2006 18,958 18,188 ______ ______ Capital Employed 90,816 97,127 ====== ====== Net Asset Value per Share: ZDP Shares 2002 189.8p 182.1p ZDP Shares 2006 189.6p 181.9p Income Shares 70.0p 70.0p Ordinary Shares 66.8p 109.1p Group Cash Flow At as 30 June 2000 Six months Six months to 30 June to 30 June 2000 1999 #'000 #'000 Revenue Activities Dividends and other income received 1,847 1,767 Expenses paid, allocated to revenue (259) (253) ______ ______ 1,588 1,514 Servicing of Finance Non-equity share dividends paid: Income Shares (944) (935) ______ ______ Taxation Recovered Income Tax 27 23 ______ ______ Investment Activities Acquisitions of listed investments (23,326) (12,823) Disposals of listed investments 26,824 11,994 Expenses paid, allocated to capital (212) (207) ______ ______ 3,286 (1,036) ====== ====== Equity Share Dividends Paid Ordinary Shares (434) (430) ______ ______ Net Cash Inflow/(Outflow) 3,523 (864) ====== ====== Reconciliation of Net Cash Inflow/(Outflow) to Movement in Cash Balances Balance brought forward 1,139 4,170 Net cash inflow/(outflow) 3,523 (864) ______ ______ Balance at 4,662 3,306 ====== ====== Comprising: Short-term deposits 4,652 3,296 Bank balances 10 10 ______ ______ 4,662 3,306 ====== ====== Notes to the Accounts 1. The Group accounts comprise the unaudited results of the Company and its subsidiary, GBIGT Securities PLC, for the six months to 30 June 2000, and do not constitute statutory accounts under the Companies Act 1985. Full statutory accounts for the year to 31 December 1999 included an unqualified audit report and were filed with the Registrar of Companies on 23 February 2000. 2. There have been no changes in accounting policies since 31 December 1999. Expenses are allocated as to 55 per cent. to revenue and 45 per cent. to capital. 3. Total return per Ordinary Share has been calculated on the negative return to equity shareholders of #8,221,000 (positive return of #6,569,000) and 20,500,000 (20,500,000) Ordinary shares in issue throughout the period. 4. Listed investments are all listed in the UK. 5. Net asset values per share have been calculated on attributable assets and shares in issue at the period-end as follows: At 30 June At 31 December 2000 1999 #'000 #'000 25,500,000 ZDP Shares 2002 38,909 37,330 10,000,000 ZDP Shares 2006 18,958 18,188 27,500,000 Income Shares 19,250 19,250 20,500,000 Ordinary Shares 13,699 22,359 ______ ______ 90,816 97,127 ====== ======
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