Caledonia Investments PLC on Monday announced an increased net asset value on an annual basis and a positive return so far in its financial year.

The London-based FTSE 250 investment trust said net asset value at December 31 was 5,180 pence per share, up from 4,943p at the same time in 2022 and from 5,068p at the end of its previous financial year on March 31.

Shares in Caledonia Investments were up 0.1% at 3,539.27p in London early on Monday.

The company delivered a positive 3.6% NAV total return for the nine months that ended on December 31, following a positive 2.9% return the prior year.

‘All three pools generated positive returns during the first nine months of the year,’ Caledonia Investments reported. ‘This positive performance was despite the adverse impact of sterling strengthening against the US dollar in the period.’

Caledonia’s Public Companies pool produced a positive 6.8% return, ‘reflecting strong performance of a number of our holdings’. Its Private Capital Portfolio delivered positive a 6.1% return, while the Funds pool delivered positive 1.0%.

Net debt totalled £54 million at December 31, up from £20 million at March 31, while the company’s total liquidity ‘remains healthy’ at £196 million.

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