PR Newswire
London, May 11
| BLACKROCK SMALLER COMPANIES TRUST PLC All information is at 30 April 2016 and unaudited. | ||||||
| Performance at month end is calculated on a capital only basis | ||||||
| One | Three | One | Three | Five | ||
| month | months | year | years | years | ||
| % | % | % | % | % | ||
| Net asset value* | -0.2 | 2.1 | 4.0 | 40.5 | 61.2 | |
| Share price* | 3.5 | -0.7 | 7.9 | 43.7 | 72.7 | |
| Numis Smaller Companies plus AIM (ex Inv Companies) Index | 1.2 | 5.5 | -1.5 | 15.0 | 21.1 | |
| *performance calculations based on a capital only NAV with debt at par, without income reinvested. Share price performance calculations exclude income reinvestment. | ||||||
| Sources: BlackRock and Datastream | ||||||
| At month end | ||||||
| Net asset value Capital only(debt at par value): | 1014.94p | |||||
| Net asset value Capital only(debt at fair value): | 1005.35p | |||||
| Net asset value incl. Income(debt at par value)**: | 1032.08p | |||||
| Net asset value incl. Income(debt at fair value)**: | 1022.49p | |||||
| Share price | 899.75p | |||||
| Discount to Cum Income NAV (debt at par value): | 12.8% | |||||
| Discount to Cum Income NAV (debt at fair value): | 12.0% | |||||
| Net yield^^^: | 1.94% | |||||
| Gross assets^: | £534.1m | |||||
| Gearing range as a % of net assets: | 0-15% | |||||
| Net gearing including income (debt at par): | 7.7% | |||||
| 2016 Ongoing charges ratio^^ | 0.7% | |||||
| 2016 Ongoing charges ratio (including performance fees): | 0.9% | |||||
| Ordinary shares in issue#: | 47,879,792 | |||||
| **includes net revenue of 17.14p ^includes current year revenue ^^ As reported in the Annual Financial Report for the year ended 29 February 2016, the ongoing charges ratio is calculated as a percentage of net assets and using operating expenses, excluding performance fees, finance costs and taxation. ^^^Yield calculations are based on dividends announced in the last 12 months as at the date of release of this announcement, and comprise of the final dividend of 10.50 pence per share, (announced on 25 April 2016, ex-dividend on 19 May 2016) and the interim dividend of 7.00 pence per share (announced on 26 October 2015 and gone ex-dividend on 5 November 2015) excludes 2,113,731 shares held in treasury. | ||||||
| Sector Weightings | % of portfolio | |||||
| Industrials | 27.4 | |||||
| Consumer Services | 19.6 | |||||
| Financials | 17.5 | |||||
| Technology | 9.9 | |||||
| Consumer Goods | 8.9 | |||||
| Health Care | 8.8 | |||||
| Basic Materials | 5.6 | |||||
| Oil & Gas | 2.2 | |||||
| Telecommunications | 0.1 | |||||
| ----- | ||||||
| Total | 100.0 | |||||
| ===== | ||||||
| Ten Largest Equity Investments | ||||||
| Company | % of portfolio | |||||
| 4imprint Group | 2.3 | |||||
| CVS Group | 2.1 | |||||
| JD Sports | 1.9 | |||||
| Workspace Group | 1.7 | |||||
| Restore | 1.7 | |||||
| Dechra Pharmaceuticals | 1.6 | |||||
| Savills | 1.6 | |||||
| Rathbone Brothers | 1.5 | |||||
| Hill & Smith | 1.5 | |||||
| Topps Tiles | 1.4 | |||||
| Commenting on the markets, Mike Prentis, representing the Investment Manager noted: During April the Company's NAV per share fell by 0.2% on a capital only basis whilst the benchmark index (Numis Smaller Companies plus AIM (excluding Investment Companies) Index) rose by 1.2%; the FTSE 100 Index rose by 1.1%. Stock selection and sector allocation were both poor during the month, with gearing helping slightly at the margin. We suffered from the continuing bounce in resources stocks and the sell-off of UK domestically orientated shares ahead of the UK EU referendum. The absence from the portfolio of five mining stocks included in the benchmark (Evraz, Centamin, Hochschild, Acacia Mining and Vedanta Resources) detracted 0.9% from relative performance. The sell-off in UK domestically orientated stocks such as Marshalls, Topps Tiles, Ted Baker, Lookers, Headlam Group and CVS Group detracted, in aggregate, a further 0.8% from relative performance. Newsflow from these companies has generally remained good in recent months. We did have some good stock performers during the month, notably Next Fifteen Communications and JD Sports, and held good meetings with each. Next Fifteen Communications announced full year revenues up by 18.9% and earnings per share up by 28%. It has a strong US technology presence and its larger customers include Amazon, Google and Facebook with whom it works closely. JD Sports also announced strong full year results with revenues up by 20% and earnings per share up by 57%. We added positions in McCarthy & Stone, through a placing, and in Morses Club, on IPO. McCarthy & Stone is the UK market leader in the development of owner-occupied retirement accommodation. Morses Club is one of the largest home credit providers in the UK. 11 May 2016 ENDS Latest information is available by typing www.blackrock.co.uk/brsc on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV terminal). Neither the contents of the Manager's website nor the contents of any website accessible from hyperlinks on the Manager's website (or any other website) is incorporated into, or forms part of, this announcement. | ||||||
