RNS Number:8445D
Archimedes Investment Trust PLC
18 May 2001
The issuer advises that the following replaces the "Interim Results"
announcement released today, 18 May 2001, at 07:00, under RNS number 8268D.
Where interim dividend details are given, in the second paragraph and in the
final paragraph of the announcement, the record date should read 1 June 2001
and not 25 May 2001 as previously stated. All other details remain unchanged.
The full amended text appears below.
PRELIMINARY ANNOUNCEMENT OF RESULTS FOR SIX MONTHS TO 30 APRIL 2001
Extract from Chairman's Statement
Results
In the six months to 30 April 2001 the net asset value per Capital share of
the Company rose by 0.24%, from 1,127.45p to 1,130.18p. This compares with a
fall in the FTSE All Share Index of 6.80%.
Net revenues were #268,543 (2000: #219,331) and the directors have declared an
interim dividend of 17p (2000: 16p) per Income share, an increase of 6.25%.
This will be paid on 15 June 2001 to Income shareholders on the register at
the close of business on 1 June 2001.
STATEMENT OF TOTAL RETURN (incorporating the Revenue Account)OF THE GROUP
for the six months ended 30 April 2001
(Unaudited)
6 months to 30 April 2001 6 months to 30 April 2000
(unaudited) (unaudited)
Revenue Capital Total Revenue Capital Total
# # # # # #
Gains on
investments - 33,389 33,389 - 580,619 580,619
Income 361,210 - 361,210 308,055 - 308,055
Investment
management
fee (58,627) - (58,627) (58,074) - (58,074)
Other
expenses (34,040) - (34,040) (30,650) - (30,650)
-------- ------- --------- --------- -------- --------
Return on
ordinary
activities
before
taxation 268,543 33,389 301,932 219,331 580,619 799,950
Tax on
ordinary
activities - - - - - -
------- ------- ------- ------- ------- -------
Return on
ordinary
activities
after
taxation 268,543 33,389 301,932 219,331 580,619 799,950
Dividends
on Income
Shares (208,284) - (208,284)(196,032) - (196,032)
-------- -------- -------- -------- -------- --------
Transfer
to 60,259 33,389 93,648 23,299 580,619 603,918
Reserves ======= ======= ======= ======= ======= =======
Return per
Income share 21.92p 17.90p
Return per
Capital share 2.73p 47.39p
Interim dividends per income 17.00p 16.00p
share
Year Ended 31
October 2000
(audited)
Revenue Capital Total
# # #
Gains on - 1,043,630 1,043,630
Investments
Income 705,437 - 705,437
Investment management fee (119,267) - (119,267)
Other expenses (67,865) - (67,865)
-------- -------- --------
Return on ordinary activities before
taxation 518,305 1,043,630 1,561,935
Tax on ordinary activities - - -
-------- -------- --------
Return on ordinary
activities after taxation 518,305 1,043,630 1,561,935
Dividends on Income shares (514,584) - (514,584)
---------- ----------- ----------
Transfer to Reserves 3,721 1,043,630 1,047,351
========== ========== =========
Return per 42.30p
Income share
Return per 85.18p
Capital share
Total dividends per Income share 42.0p
CONSOLIDATED BALANCE SHEET 30.4.2001 30.4.2000 31.10.2000
(UNAUDITED) (unaudited) (unaudited) (audited)
AS AT 30 APRIL 2001
# # #
FIXED ASSETS
Listed Investments 12,763,764 13,555,587 13,970,390
---------- ---------- ----------
Current Assets: - - 86,349
Investments
Debtors 410,203 50,229 318,054
Cash at bank 1,395,500 416,337 220,283
---------- ---------- ----------
1,805,703 466,566 624,686
Creditors: amounts falling due within one 255,875 245,642 375,132
year
---------- ---------- ----------
Net Current Assets 1,549,828 220,924 249,554
---------- ---------- ----------
Net Assets 14,313,592 13,776,511 14,219,944
========== ========== =========
=
CAPITAL AND RESERVES
Called up share capital 918,900 918,900 918,900
Share premium 372,175 372,175 372,175
Other reserves
Capital reserve 10,998,083 9,109,692 10,536,340
-realised
Capital reserve 1,864,093 3,256,084 2,292,447
-unrealised
Revenue reserve 160,341 119,660 100,082
---------- ---------- ----------
Total shareholders' 14,313,592 13,776,511 14,219,944
Funds
========== ========== =========
=
Net asset value per 38.09p 34.77p 33.17p
Income Share
Net asset value per 1,130.18p 1,089.66p 1,127.45p
Capital Share
Consolidated Cash Flow Statement for the 30 April 30 April 2000 31
six months ended 30 April 2001 2001 (unaudited) October
(unaudited) 2000
(unaudited) (audited)
# # #
Cash inflow from 366,191 252,297 433,888
operating activities
Taxation 3,400 - 3,563
UK tax recovered
Capital expenditure and
financial investment (3,301,130) (1,137,504) (3,472,137)
Purchases of investments Sales of 4,425,308 1,116,154 3,265,611
investments
--------- --------- ---------
1,124,178 (21,350) (206,526)
Dividends paid (318,552) (294,048) (490,080)
--------- --------- ---------
Cash inflow/(outflow) before
management of liquid resources 1,175,217 (63,101) (259,155)
Management of liquid
Resources
Net cash deposits (1,125,000) 72,000 275,000
(placed)/withdrawn
--------- --------- ---------
Increase in cash 50,217 8,899 15,845
========= ========= =========
Reconciliation of net cash
flow to movement in net funds Increase in 50,217 8,899 15,845
cash
Cash outflow/(inflow)from
increase/(decrease) in 1,125,000 (72,000) (275,000)
liquid resources
--------- --------- ---------
Change in net funds 1,175,217 (63,101) (259,155)
Net funds at 1 November 220,283 479,438 479,438
--------- --------- ---------
Net funds at 30 April 1,395,500 416,337 220,283
========= ========= =========
Approved by the board of Directors on 17 May 2001.
The Interim Dividend per 25p Income Share of Archimedes Investment Trust PLC
for the year ending 31 October 2001 will be 17p net. The dividend will be
payable on 15 June 2001 and have a record date of 1 June 2001.
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