22nd Nov 2018 09:58
LONDON (Alliance News) - Caledonia Investments PLC on Thursday said all four of its investments areas performed strongly, boosting its interim total return.
For the six months to September, Caledonia's total return was 9.8%, compared to 1.4% for its year ended March.
Net asset value per share increased 8.5% to 3,563 pence from March, while net assets reached GBP2.00 billion from GBP1.84 billion six months prior.
Caledonia is paying an interim dividend of 16.1p per share for the period, from 15.5p a year prior.
Caledonia's Quoted Pool, its portfolio of quoted company investments, posted a total return of 15%, while its Income Pool - focused on company's that pay high dividends - returned 7.5%, with both benefiting from "buoyant" market and a stronger dollar.
The total return from Caledonia's Unquoted Pool was 12%, helped by a revaluation in its Choice Care Group investment, and "good progress" from other investees.
Lastly, its Funds Pool's return, also 12%, was underpinned by gains in the US and Asian private equity funds portfolio.
"Caledonia's investment portfolio saw strong performance across all four investment pools, delivering net asset value per share total return of 9.8% and supporting an increase in the interim dividend of 3.9% to 16.1p per share," said Chief Executive Will Wyatt.
"We are pleased with the last six months' performance, despite political and economic uncertainty continuing to impact markets," Wyatt continued.
"However, our well-diversified portfolio is invested in good quality businesses that combine attractive long term growth prospects with the potential to support increasing income, enabling us to achieve our strategic objectives."
Shares were 0.5% lower on Thursday morning at 2,826.25p each.
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