12 Aug 2011

SAINTS Announces Interim Results 

The Scottish American Investment Company (SAINTS)
has announced its results for the six months to
30 June 2011.

The latest interim results for The Scottish American Investment Company P.L.C. (SAINTS) show, for the six months to 30 June 2011, the net asset value total return was 1.3% and the share price total return for the period was 0.7%.  The benchmark total return was 2.6%

Earnings per share totalled 5.07p (4.94p in the corresponding period in 2010). After the payment of a second interim dividend of 2.35p, the dividend for the six months will total 4.7p (4.6p in the corresponding period to 2010).

The low level of market returns broadly reflects the global economic situation.  As a whole, the global economy grew strongly but growth rates varied widely across regions.  Despite the challenging environment, the corporate sector appears in good health.  Margins, although high when compared to the average of the last two or three decades, may be sustainable at current levels for some time, profits are still growing and dividend payments are rising. This last factor, if maintained, should boost SAINTS' revenue receipts over the coming years.

More details on the interim results, including the Half-Yearly Management Report, can be found in the press release transcript at the top of this page.

You can find up to date performance information about SAINTS on the SAINTS’ page on Baillie Gifford’s website www.saints-it.com.    

*SAINTS benchmark is 50% FTSE All-Share Index and 50% FTSE All World Ex UK Index.

Please remember that past performance is not a guide to future performance. The value of your investment may go down as well as up and you may not get back the amount originally invested.  You should regard your investment as long term.

The Trust invests in overseas securities and changes in the rates of exchange may also cause the value of your investment (and any income it may pay) to go down or up.

SAINTS can borrow money to make further investments (sometimes known as "gearing"). The risk is that when this money is repaid by the trust, the value of the investments may not be enough to cover the borrowing and interest costs, and the trust will make a loss. If the trust's investments fall in value, any borrowings will increase the amount of this loss.