Caledonia Investments grows NAV by 7.4%

8th Apr 2024 07:16

(Sharecast News) - FTSE 250-listed investment firm Caledonia Investments saw a solid increase in net asset value in the year ended 31 March, with all three investment pools contributing to growth.

The company reported a net asset value of £3.0bn for the year, up from £2.8bn previously, representing a NAV total return of 7.4%.

Public company and private capital investments returned 12% and 12.3% during the year, respectively, while the funds portfolio returned just 2.2% as falling values of Asian holdings held back growth due to "more challenging market conditions in the region". Returns across all three investment pools would have been higher if reported in local currencies.

"Our diversified portfolio continues to deliver positive returns, with all pools contributing to growth, despite foreign exchange headwinds," said chief executive Mat Masters.

"We remain focused on using long-term thinking to invest in high-quality companies with strong market positions, and funds with track records of success. This has resulted in long-term outperformance and enabled us to deliver 57 years of increasing dividends."

The company said it ended the period with a "robust balance sheet with significant liquidity", reporting a net cash position of £227m, up from £222m the previous year, in addition to an undrawn credit facility of £250m.