Last checked at 14 Sep 2009 16:39
Analyst Investment Management Plc Registration Number 3687441 Interim Unaudited Financial Statements for the 6 Months Ended 31st May 2009 Contents PageDirectors' Statement 3Profit and Loss Account 4Balance Sheet 5
Directors' Statement on the Unaudited Interim Results for the Six Months Ended 31st May 2009
The Company made a profit of 11,697 which compares to a loss of 26,236 in the same period last year. Fee income was 77,358 (2008: 16,976) which reflects performance-related fees earned for the year ended 30 November 2008.
In the first 6 months of the year the return on the funds under management has been 1.25% versus a return of 8.22% on the FTSE All Share Index. The performance of the Open Ended Investment Company (OEIC), quoted as CF Analyst UK Fund since launch date, 1, December 2005 has been minus 8.85% versus a minus 6.46% on the FTSE All Share Index.
The fund had assets of 3.93m on the 31 May 2009. The fund maintains a high cash balance and hence the main reason for the outperformance since inception compared to the index.
We have deliberately not participated in the equity markets and kept more than 50% of the funds under management in cash primarily due to intense volatility, adverse economic climate and uncertainty with regards to the banking sector.
There has been a small increase in costs, but these are still below the level of the comparable period two years ago. The opportunity to cut costs further is limited. It is expected, however, that certain administrative fees will be reduced shortly and the cost savings will be reflected in the next financial year.
The future success of the business is reliant on increasing revenues. Discussions are continuing with a number of parties aimed at increasing revenues.
This Statement has been prepared by and is the sole responsibility of the directors of Analyst Investment Management plc.
CHAIRMAN FINANCE DIRECTORBharat Amin Surbjit Chadda14 September 2009
Analyst Investment Management Plc
Profit And Loss Account
For The Six Months Ended 31 May 2009
Unaudited Unaudited Audited Six Months Six Months 12 months ended ended ended May 2009 May 2008 Nov 2008 GBP GBP GBPTurnover 77,358 16,976 41,160Cost of sales (17,895) (16,581) (36,738) ______ ______ ______Gross profit 59,463 395 4,422Administrative expenses (48,567) (42,012) (97,821) ______ ______ ______Operating profit/(loss) 10,896 (41,617) (93,399)
Other interest receivable and similar income 801 15,381 27,747
______ ______ ______Profit/(loss) on ordinary activities before taxation 11,697 (26,236) (65,652)Taxation 0 0 0 ______ ______ ______Profit/(loss) on ordinary activities after taxation 11,697 (26,236) (65,652) ______ ______ ______Earnings per share (pence) 0.16 (0.36) (0.890) ______ ______ ______
The turnover for the 6 months to 31 May 2009 includes the performance fee of 58,724 earned in the year to 30 November 2008.
The earnings per share are based on the profit after taxation of 11,697, (2008: (26,236)), and the weighted average number of ordinary 2.5 pence shares in issue during the period of 7,377,777 shares, (2007: 7,377,777 shares). Ordinary 2.5 pence shares in issue at 31st May 2009 were 7,377,777.
Analyst Investment Management Plc
Balance SheetAs at 31 May 2009 Unaudited Unaudited Audited as at 31 as at 31 as at May 2009 May 2008 November 2008 GBP GBP GBPFixed assetsTangible assets 0 0 0 ______ ______ ______Current assetsDebtors 11,532 0 12,025Cash at bank and in hand 503,820 547,408 496,862 ______ ______ ______ 515,352 547,408 508,887Creditors: amounts fallingdue within one year - (4,337) (5,232) ______ ______ ______Net Current Assets 515,352 543,071 503,655 ______ ______ ______Net Assets 515,352 543,071 503,655 ______ ______ ______Capital and reservesCalled up share capital 184,444 184,444 184,444Share premium account 1,100,642 1,100,642 1,100,642Profit and loss account (769,734) (742,015) (781,431) ______ ______ ______Equity Shareholders' Funds 515,352 543,071 503,655 ______ ______ ______
vendor