Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Caledonia Investments reported a surge profits as net assets were bolstered by gains in its investment portfolio.
For the year ended 31 March, pre-tax profit rose to £196.9m from £22.2m a year earlier, and net asset value total return per share increased by 10.9%.
The increase in NAV total return was underpinned by its investment portfolio, which delivered positive performance across all four pools, with the Quoted pool in particular performing 'strongly,' the company said.
The quoted pool, invested in high quality compounding businesses in the US, generated a return of 21.0% for the year was despite the turmoil in markets only three months before the year under review ended, the company added.
Net asset value grew 9.0% to £2bn for the year.
The company proposed a 4% increase in annual dividend per share to 59.3p.
'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,' said Will Wyatt, Chief Executive.