24th Nov 2016 07:58
LONDON (Alliance News) - FTSE 250-listed Caledonia Investments PLC on Thursday reported a total return on net asset value of 6.7% for its first half to the end of September.
Caledonia proposed an interim dividend of 14.9 pence, up 4.2% from 14.3p the previous year.
Caledonia said it invested GBP148 million in the half-year, including GBP71 million in private brewery, restaurant and pub company The Liberation Group. It realised GBP171 million in investments, including the sale of its stake in private audio equipment firm Bowers & Wilkins for GBP24 million.
"Our investment portfolio has delivered a 6.7% NAV total return in the six months, with positive contributions from all investment pools. This is a good performance during a period of significant economic and political uncertainty. Our strategy of maintaining a globally diversified investment portfolio has provided an effective hedge to market uncertainties," said Chief Executive Will Wyatt in a statement.
"While we expect to see continued volatility in financial markets, we remain active in our search to find potential new investments, but remain wary of current price expectations. We believe our diversified and long term portfolio remains well positioned to attain the target returns that we aim to deliver for our shareholders despite the less than ideal backdrop," Wyatt added.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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