News Column

Caledonia Investments Reports 14.9% Total Return, Driven By Portfolio Returns

May 28, 2014

Samuel Agini

LONDON (Alliance News) - Caledonia Investments PLC Wednesday reported a 14.9% net asset value total return for its last financial year, driven by returns across its portfolio.

In a statement, Caledonia Investments said the total return over the year ended March 31 was boosted by a quoted pool return of 20.5%, driven by its long-term investments, while its unquoted pool returned 17.7% due to sales and NAV uplifts across the portfolio. The funds pool returned 11.8% as a result of growth from private equity fund investments, especially China. Its income and growth pool returned 0.1%, though income increased by 40% from the previous year.

Overall, Caledonia Investments' 14.9% total return was behind the previous year's 18.9%.

Net asset value per share increased to 2,593 pence, from 2,305 pence, as net asset value rose to GBP1.45 billion, from GBP1.30 billion. Its annual dividend increased to 49.1 pence, from 47.2 pence.

"We continued to take advantage of opportunities to reduce some of our larger holdings to maintain the right balance of risk across the portfolio, and reported a substantial uplift in NAV on the sale of two unquoted companies. Our investment activity included two significant acquisitions, the purchase of Choice Care Group and Park Holidays, both of which fit well with our investment criteria," Chief Executive Will Wyatt said in a statement.

"This activity, together with the impact of improving markets over the year, has driven our NAV to its highest level in our history. Looking ahead, our portfolio is cautiously positioned, but we remain confident of delivering continued long term performance for our shareholders," Wyatt added.

Caledonia Investments shares were Wednesday quoted at 2,166.26 pence, up 0.3%.

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Source: Alliance News

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