Interim Results

22 Dec 2006 13:33

Investec Investment Trust PLC22 December 2006 INVESTEC INVESTMENT TRUST PLC INTERIM ANNOUNCEMENT UNAUDITED PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 30TH SEPTEMBER 2006 Restated Six months Six months Year ended ended ended 30 September 30 September 31 March 2006 2005 2006 Unaudited Unaudited Audited (note 2) (note 2) (note 2) £000 £000 £000 Administrative expenses -4 -2 -5 Interest payable -31 -31 -63 Loss on ordinary activities before taxation -35 -33 -68 Tax on loss on ordinary activities - - - Loss on ordinary activities after taxation -35 -33 -68 Retained loss for the financial year -35 -33 -68 Net assets 27,524 27,594 27,559 Notes 1. Cash Flow Statement The Company is exempt from the requirements to prepare a cash flow statementunder Financial Reporting Standard 1, because a consolidated cash flow statementis included in the publicly available consolidated financial statements of itsultimate holding company, Investec plc. 2. The financial statements have been prepared under the historical costconvention and in accordance with applicable accounting standards. The companyhas adopted FRS 21 "Events after the balance sheet date", with the effect thatequity dividend receivable or payable after balance sheet date have not beenrecognised as an asset or liability. This change has had no impact on thefinancial statement. The company also adopted FRS 25 "Financial Instruments:Presentation and Disclosure" and FRS 26 "Financial instruments: Measurement". 3. Investec Group Investments (UK) Limited, a wholly-owned subsidiary ofInvestec Bank (UK) Limited, owns all of the ordinary shares of the company,£266,586 of the nominal 3.5 per cent cumulative preference stock and £96,612 ofthe nominal 5 per cent preference stock, in issue. The issued £1,300,000 nominal3.5 per cent and £345,438 nominal 5 per cent cumulative preference stocks arelisted on the London Stock Exchange. 4. Surplus liquidity arising from time to time has been lent by the companyduring the period on an interest free basis to its immediate parent company,Investec Group Investments (UK) Limited. The loan is repayable on demand and thecompany has the right, at any time and at its sole discretion, to chargeinterest thereon at a commercial rate. 5. The tax charge is based on the effective tax rate for the full year. Registered Office2 Gresham Street London EC2V 7QP Registered in England No. 328206 This information is provided by RNS The company news service from the London Stock Exchange