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.
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
-
More pensioners dragged into 60% tax trap – could you be caught?Frozen thresholds are pushing more older workers into paying income tax at levels much higher than the headline rate, new figures show. We look at why and how you can avoid being caught in the 60% tax trap.
-
Higher earners face £377 bill if Reeves puts up income tax – do you fit the Treasury’s definition of ‘working people’?Labour’s election manifesto pledged not to raise National Insurance, VAT or income tax but prime minister Keir Starmer appeared reluctant to repeat the promise this week
