Caledonia Investments plc (LON:CLDN) today announced half-year results for the six months ended 30 September 2018
Financial highlights
|
6 months |
Year |
|
|
|
|
30 Sep 2018 |
31 Mar 2018 |
Change |
|
Net asset value per share total return |
+9.8% |
+1.4% |
|
|
Net asset value per share |
3563p |
3285p |
+8.5% |
|
Net assets |
£2,000m |
£1,837m |
+8.9% |
|
Interim dividend per share |
16.1p |
15.5p |
+3.9% |
Highlights
-NAV per share total return of +9.8%, underpinned by strong performance across all four investment pools
o Quoted and Income pools (returns of 15.0% and 7.5% respectively) benefited from buoyant markets and strengthening of the US dollar
o Unquoted pool (return of 11.8%) benefited from revaluation of Choice Care Group and good progress from other portfolio companies
o Funds pool (return of 12.0%) underpinned by gains from US and Asian private equity funds portfolio
-Net assets reach £2bn for the first time
-Interim dividend per share increased by 3.9% to 16.1 pence per share (HY17: 15.5p)
-Investments of £283m, included £93m in Cooke Optics, a market leading UK based manufacturer of cine camera lenses
-£154m realised, including most of Caledonia’s holding in Flowserve (Quoted pool) and the disposal of its holding in Macquarie Asia New Stars fund (Funds pool)
-Post period end, Caledonia’s Unquoted pool invested £117m in Deep Sea Electronics and sold Choice Care Group for £99m
-Cash of £67m at 30 September 2018, in addition to undrawn bank facilities of £250m
Will Wyatt, Caledonia Chief Executive, commented:
“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 16.1 pence per share.
“We are pleased with the last six months’ performance, despite political and economic uncertainty continuing to impact markets. 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.”
