| For the year ended 31 December 2007 | For the year ended 31 December 2006 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | Revenue return £’000 |
Capital return £’000 |
Total £’000 |
Revenue return £’000 |
Capital return £’000 |
Total £’000 |
||
| Gains on investments – at fair value through profit and loss |
– | 113,421 | 113,421 | – | 198,038 | 198,038 | ||
| Exchange (losses)/gains on other items | 42 | 17,459 | 17,501 | (1) | (6,845) | (6,846) | ||
| 42 | 130,880 | 130,922 | (1) | 191,193 | 191,192 | |||
| Operating income | ||||||||
| Investment income | 27,754 | – | 27,754 | 28,168 | – | 28,168 | ||
| Other operating income | 32,112 | – | 32,112 | 21,539 | – | 21,539 | ||
| Total operating income | 3 | 59,866 | – | 59,866 | 49,707 | – | 49,707 | |
| Operating expenses | ||||||||
| Administrative expenses | 4 | (23,295) | – | (23,295) | (18,971) | – | (18,971) | |
| Other operating expenses | – | (484) | (484) | – | (389) | (389) | ||
| Total expenses | (23,295) | (484) | (23,779) | (18,971) | (389) | (19,360) | ||
| Operating profit/(loss) | 36,571 | (484) | 36,087 | 30,736 | (389) | 30,347 | ||
| Finance costs | 7 | (13,633) | – | (13,633) | (6,300) | – | (6,300) | |
| Profit before tax | 22,980 | 130,396 | 153,376 | 24,435 | 190,804 | 215,239 | ||
| Tax | 9 | (2,002) | 729 | (1,273) | (2,413) | (737) | (3,150) | |
| Profit for the period | 20,978 | 131,125 | 152,103 | 22,022 | 190,067 | 212,089 | ||
| Attributable to: | ||||||||
| Equity holders of the parent | 11 | 20,970 | 131,124 | 152,094 | 21,957 | 190,026 | 211,983 | |
| Minority interest | 8 | 1 | 9 | 65 | 41 | 106 | ||
| Earnings per share | ||||||||
| From continuing activities | ||||||||
| Basic | 11 | 109.5p | 158.0p | |||||
| Diluted | 11 | 106.2p | 153.9p | |||||
The total column of this statement represents the Group’s income
statement, prepared in accordance with IFRS. The supplementary
revenue return and capital return columns are both prepared under
guidance published by the Association of Investment Companies. All
items in the above statement derive from continuing
operations.
The notes in the Financial section form an integral part of these accounts.
The notes in the Financial section form an integral part of these accounts.