Caledonia's NAV declines
Caledonia Investments presented the market with a slightly disappointing update on Friday which revealed a quarter-on-quarter (q/q) decline in the net asset value (NAV) per share from 1,977p to 1,918p.
Caledonia Investments presented the market with a slightly disappointing update on Friday which revealed a quarter-on-quarter (q/q) decline in the net asset value (NAV) per share from 1,977p to 1,918p.
During the quarter ended June 30th net assets also fell from £1,134m to £1,102m while the discount to the share price increased from 24.8% to 25.9%.
At that date the company had £24.0m cash and £25.0m debt, compared with £8.4m of cash and £45.0m of debt at March 31st.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Realisations during the three month period totalled £52.0m, while investments totalled £20.9m, including a further £5.5m through the Quoted pool in Spirax-Sarco Engineering, a UK listed steam engineering company.
During the quarter the company acquired 132,500 of its own shares for cancellation at a cost of £1.8m. Since the period end, the company has purchased a further 30,000 of its own shares for cancellation at a cost of £0.4m. These shares were bought at an average discount to NAV of 28.1%.
Shares were trading 0.49% lower at 1,430p by 14:14.
NR
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published