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.
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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.
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