(Alliance News) - Caledonia Investments PLC on Thursday reported a higher net asset value total return in the most recent financial year, but the company warned of significantly higher levels of market volatility.
For the financial year ended on March 31, the FTSE 250-listed investment trust saw a net asset value total return of 28%, compared to 26% the year ago.
As at March 31, net asset value per share was 5,041 pence, up 26% from 4,000p on the same date last year.
Pretax profit was GBP28.3 million, up from GBP22.4 million a year ago.
Chief Executive Will Wyatt said: "Our strategy of investing in a diversified portfolio of high-quality holdings in listed equities, directly owned private companies and funds has generated significant value over the last year and makes us well-placed to respond to the challenges posed by inflation, supply constraints and potentially lower GDP growth.
"We remain confident that our approach and high-quality portfolio will continue to deliver our aims of growing net assets and dividends over the long term."
Caledonia declared a final dividend of 45.9 pence per share, up 3.1% from 44.5p a year ago. This raised its total dividend for the year 64.8p, up 3.0% from 62.9p the year before. It also declared a special dividend of 175 pence per share , compared to no such dividend the year before.
Looking ahead, the company anticipates higher levels of volatility as markets adapt to interest rate increases.
Caledonia Investments shares were up 1.8% at 3,699.24 pence each on Thursday morning in London.
By Xindi Wei; xindiwei@alliancenews.com
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Caledonia (CLDN)