6th Jul 2015 14:32
LONDON (Alliance News) - Caledonia Investments PLC Monday said its net asset value decreased by 1.8% in the quarter ended June 30.
The investment trust said that its net asset value fell 1.8% to GBP1.59 billion from GBP1.62 billion over the quarter, as its NAV per share total return fell 2.3% to 2,840 pence from 2,906p on March 31.
"Unquoted investments are revalued in March and September. Consequently, the NAV at June 30, 2015 did not include any valuation adjustments to unquoted investments in the past three months," Caledonia said in a statement.
Investments during the period totalled GBP127.6 million, including GBP34.2 million in US company Flowserve Corp, GBP19.4 million in US railway operator Union Pacific Corp, and GBP18.0 million in UK-listed British American Tobacco PLC.
Caledonia also agreed to acquire around 94% of Seven Investment Management for up to GBP77 million.
Realisations during the period totalled GBP173.4 million, including GBP15.1 million for part of Caledonia's holding in Avanti Communications Group PLC and GBP13.0 million for its holding in UK engineering company Weir Group PLC.
Shares in Caledonia were trading down 0.9% at 2,457.00 pence Monday afternoon.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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CaledoniaAVN.LBritish American TobaccoWeir Group