TIDMBPO

RNS Number : 9462W

British Portfolio Trust PLC

07 February 2012

British Portfolio Trust PLC

Interim Management Statement

For the quarter ended 31 January 2012

This interim management statement relates to the quarter from 1 November 2011 to 31 January 2012 and contains information for that period unless otherwise stated. This statement is produced to provide information in accordance with the UK Listing Authority's Disclosure and Transparency Rules.

Investment objective

The objective of British Portfolio Trust PLC is to provide growth in capital and income through a policy of investing in UK listed companies. Such equities will consist mainly of shares in FTSE 100 companies, but will also include medium-sized and smaller companies.

Portfolio

Top ten holdings at 31 January 2012 and percentage of total gross assets

 
                                                          GBP              % 
 GlaxoSmithKline                       3,041,602                        7.10 
 BP                                    3,031,563                        7.08 
 Vodafone Group                        2,369,763                        5.53 
 HSBC                                  2,157,944                        5.04 
 Royal Dutch Shell "B"                 2,069,178                        4.83 
 Rio Tinto                             1,694,220                        3.96 
 Diageo                                1,490,691                        3.48 
 Reed Elsevier                         1,405,944                        3.28 
 Unilever                              1,395,392                        3.26 
 Centrica                              1,321,114                        3.08

Material events and transactions

During the period 651,552 ordinary shares were purchased for cancellation and 500,000 ordinary shares previously held in treasury were cancelled. Since the period end a further 60,000 ordinary shares have been purchased for cancellation.

Financial Performance to 31 January 2012

 
                                  % change 
                     3m        6m       1yr    3yrs     5yrs 
                   ------  ---------  ------  ------  ------- 
 Share price        -4.43      -5.84   -12.7   47.34   -17.29 
                   ------  ---------  ------  ------  ------- 
 Net Asset Value     4.27      -2.34   -3.77   60.09   -10.05 
                   ------  ---------  ------  ------  ------- 
 Benchmark*          3.19      -1.52   -0.31   56.90     9.31 
                   ------  ---------  ------  ------  -------

Source: Datastream

Total return with net dividends reinvested and net of fees.

* FTSE All-Share Total Return

Financial position at 31 January and 3 February 2012

 
                        31 January      3 February 
 Total gross assets    GBP42,835,036   GBP44,424,386 
 Net assets            GBP39,706,385   GBP41,370,424 
 Share price              124.0p          123.0p 
 Net asset value(1)       139.7p          145.5p 
 Discount(2)              -11.2%          -15.5% 
 Gearing (3)               3.4%            3.3% 
 Historic Dividend 
  Yield                    4.1%            4.1%

(1) Debt at book value

Net asset values are calculated and announced daily.

(2) The discount is the difference between the share price and the NAV (debt at book value) per share expressed as a percentage of the NAV per share.

(3) Actual gearing - net of cash.

Company Information

 
 Launch date           2001 
 EPIC                  BPO 
 Year end              31 October 
 Report and Accounts   Final posted January, half-yearly 
                        posted June 
 AGM                   February 
 Dividends             September and March 
 Price Information     Financial Times, The Daily Telegraph, 
                        www.rcm.co.uk/investmenttrusts

Investor information

Further up to date information, including Net Asset Values and share prices, and the latest available factsheets and portfolio information, is provided on the Manager's website, which can be accessed via www.britishportfoliotrust.co.uk. Information can also be obtained from the Investor Services' helpline on 0800 389 4696.

By order of the Board

British Portfolio Trust PLC

155 Bishopsgate

London EC2M 3AD

7 February 2012

This information is provided by RNS

The company news service from the London Stock Exchange

END

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