Business
Report for the quarter ended 31 Dec 2017
Report for the quarter ended 31 Dec 2017.
About this update from Caledonia Investments Plc
[{"type":"text","content":"\n \nRNS Number : 1269B Caledonia Investments PLC 05 January 2018 \n\n \n \n \nCaledonia Investments plc\nReport for the quarter ended 31 December 2017\n \nCaledonia is a self-managed investment trust company with net assets of £1.9bn. It aims to deliver growth in shareholder capital measured over the long term and in annual dividends. It invests in businesses and funds, both listed and private, in a range of sectors and regions.\n \nCaledonia presents a report of its activities for the quarter ended 31 December 2017 and up to the date of publication.\n \nMaterial events\n\n\n\n\no\n\n\nOver the quarter, NAV increased by 1.6% to £1,878m from £1,848m. The NAV per share total return for the quarter was 2.2%. Unquoted investments are revalued in March and September. Consequently, the NAV at 31 December 2017 did not include any valuation adjustments to unquoted investments in the past three months.\n\n\n\n\n\n\n\n\n\n\n\n\no\n\n\nInvestments during the period totalled £74.2m, including £22.7m in fund commitment drawdowns.\n\n\n\n\n\n\n\n\n\n\n\n\no\n\n\nRealisations during the period totalled £140.3m, including £80.2m from the sale of The Sloane Club, the London private members club, of which £3.5m was accounted for as a pre-sale distribution of trading profit.\n\n\n\n\n\n\n\n\n\n\n\n\no\n\n\nAn interim dividend of 15.5p per share was declared on 23 November 2017, an increase in interim dividend of 4.0% over the previous year. The dividend, totalling £8.5m, will be paid on 11 January 2018 to holders of ordinary shares on the register on 1 December 2017. The ex-dividend date was 30 November 2017.\n\n\n\n\n\n\n\n\n\n\n\n\no\n\n\nGuy Davison, a founding partner of Cinven, the leading international private equity firm, joined the board as an additional independent non-executive director with effect from 1 January 2018.\n\n\n\n\n \nFinancial position and performance summary\n\n\n\n\n\n\n\nAt 31 Dec 2017 \n\n\nAt 30 Sep 2017 \n\n\n\n\nNet assets\n\n\n£1,878m \n\n\n£1,848m \n\n\n\n\nNAV per share\n\n\n3356p \n\n\n3298p \n\n\n\n\nDiscount\n\n\n16.0% \n\n\n17.8% \n\n\n\n\n1.\n\n\nNAVs per share are calculated on a diluted, cum-income basis.\n\n\n\n\n2.\n\n\n31 December 2017 was the latest date on which an NAV per share was prep...