- Investment Trust Caledonia Investments swung to a profit as net asset value total return was boosted by strong performance from its quoted equity portfolios boosted growth.

For the year ended 31 March 2021, pre-tax profit was £455.8 million compared with a loss of £171.9 million last last year.

Net asset value total return was up 25.9% for the year, led by strong performance from quoted equity portfolios, which were up 30.3% in the year.

Net assets increased 24.5% to £2.22 billion.

The performance reflected 'significant rebound in global public equity markets and considered stock selection within both the Capital and Income portfolios,' the company said.

The company raised its annual dividend by 2.9% to 62.9p per share.

'The outlook for our financial year ending 31 March 2022 is dependent on the continued management of the Covid-19 pandemic and its economic impact around the world,' the company said.

'The response by central banks has been fulsome and timely, ensuring that there has been sufficient liquidity in the financial system to allow its continued operation. A consequence might be increased volatility on any signs that this largesse might be tempered,' it added.

At 8:14am: [LON:CLDN] Caledonia Investments PLC share price was 0p at 2870p

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