Caledonia Investments Plc - Final Results

Caledonia Investments plc

Final results for the year ended 31 March 2019

 

Financial highlights

 

31 Mar 2019 

31 Mar 2018 

Change 

Net asset value total return

+10.9% 

+1.4% 

 

Net asset value

3582p 

3285p 

+9.0% 

Net assets

£2,002m 

£1,837m 

+9.0% 

Annual dividend per share

59.3p 

57.0p 

+4.0% 

 

Highlights

 

+10.9% NAV total return for the year (+8.1% excluding currency gains)

 

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Strong returns from the Quoted, Unquoted and Funds pools and a small positive return from the Income pool; returns enhanced by the strengthening US dollar

 

 

Continued growth in dividends to shareholders

 

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4% increase in annual dividend per share to 59.3p

 

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52nd consecutive year of increasing dividends

 

 

Strong NAV growth over the year of +9.0%

 

 

£491m realised from the portfolio including £92m from sale of Choice Care Group

£560m investment in new and follow-on opportunities including £117m in Deep Sea Electronics equity and £50m in debt (subsequently repaid) and £93m in Cooke Optics

 

 

Significant capacity to capitalise on market opportunities

 

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£112m of cash available

 

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Unutilised facilities of £250m at year end

 

Will Wyatt, Chief Executive, commented:

 

"Caledonia's investment portfolio delivered positive performance across all four pools, underpinning the +10.9% increase in NAV total return for the year. The Quoted pool in particular performed strongly, demonstrating the strength of Caledonia's conservative, long term approach.

 

"We are proposing a 4% increase in the annual dividend, marking the 52nd year of successive increases, a record of which we continue to be proud.

 

"Whilst we foresee a continuation of geopolitical tensions affecting markets in the coming year, we remain confident that our portfolio construction and underlying investments leave us well positioned to deliver our long term return targets and dividend growth."