By BFN News | 08:14 AM | Thursday 27 May, 2021 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.
Results The NAV total return ( NAVTR ) for the year of 25.9% was strong and included positive returns from each part of our portfolio. The Quoted Equity pool delivered an annual return of 30.3%, aided by the rebound in global equity markets. Investee companies within the Private Capital portfolio, with the exception of Buzz Bingo, adapted well to the challenges presented by Covid-19 to produce a total return of 23.2%. The Funds portfolio delivered an annual return of 34.8%, buoyed by good underlying fund performance. We have retained a strong, largely ungeared balance sheet with total liquidity of 249m available at 31 March 2021. Income and dividend
M&S, Aviva and Ted Baker among the big names in coming week
Also in the diary are landlords Shaftesbury and British Land, retailer Pets At Home and utility group SSE
The week ahead is expected to see results from several well-known retailers, notably Marks & Spencer, Ted Baker and Pets At Home, while insurance giant Aviva will also be in focus when it updates on its current trading.
Meanwhile, landlords British Land and Shaftesbury are also in the diary alongside software firm AVEVA and utility firm SSE.
Things are a little quieter on the macro calendar, with US GDP and jobless claims on Thursday likely to be the key draw.
Scientific Games reviews ASX options to trim debt Share
Australian Securities Exchange (ASX).
The Australian Financial Review (AFR) has reported that SGC has recruited Sydney-based investment bank Jarden Australia to draft the company’s pathway towards listing on the ASX.
An ASX-listing is detailed as one option to address SGC’s long-term debt reduction, which currently registers at $9.5 billion – more than $4 billion over the firm’s market capitalisation of $5.40 billion.
SGC’s corporate debt ballooned to $8.5 billion in 2014 following the firm’s leveraged acquisition of casino slot and games manufacturer
Bally Technologies for $5.1 billion.
The company’s debt-load further increased in 2018, as SGC undertook back-to-back acquisitions of