Analyst Investment Management Plc
Registration Number 3687441
Interim Unaudited Financial Statements
for the 6 Months Ended 31st May 2009
Contents
Page
Directors' Statement 3
Profit and Loss Account 4
Balance 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 DIRECTOR
Bharat Amin Surbjit Chadda
14 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
£ £ £
Turnover 77,358 16,976 41,160
Cost of sales (17,895) (16,581) (36,738)
______ ______ ______
Gross profit 59,463 395 4,422
Administrative 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 Sheet
As at 31 May 2009
Unaudited Unaudited Audited
as at 31 as at 31 as at
May 2009 May 2008 November 2008
£ £ £
Fixed assets
Tangible assets 0 0 0
______ ______ ______
Current assets
Debtors 11,532 0 12,025
Cash at bank and in hand 503,820 547,408 496,862
______ ______ ______
515,352 547,408 508,887
Creditors: amounts falling
due 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 reserves
Called up share capital 184,444 184,444 184,444
Share premium account 1,100,642 1,100,642 1,100,642
Profit and loss account (769,734) (742,015) (781,431)
______ ______ ______
Equity Shareholders' Funds 515,352 543,071 503,655
______ ______ ______