Santumas Shareholdings plc - Full-Year Results

Monday, August 24th, 2015

On 24 August, Santumas Shareholdings plc published the full-year results covering the financial year ended 30 April 2015.

Performance Overview

During the financial year ended 30 April 2015, the Company registered a 16.2% drop in revenue to €0.69 million mainly reflecting the absence of an increase in the fair value of investment properties compared to the €0.33 million fair value uplift registered in the previous financial year. On the other hand, the Company registered a 5.1% increase in investment income to €0.38 million and a significant rise in the fair value of financial assets of €0.31 million (FY April 2014: €0.13 million) reflecting the uplift in the local equity market.

Administrative expenses increased by 61.8% to €0.17 million although this mainly relates to the non-recurring costs incurred in connection with the de-listing and simultaneous re-listing of the Company as a property company.

Meanwhile, finance costs dropped by 36.9% to a mere €282 as all borrowings were repaid during the period under review.

Overall, Santumas Shareholding plc reported a 27.9% drop in pre-tax profits to €0.52 million.

The tax expense also dropped by 51.6% on the back of a lower profit figure as well as due to favourable adjustments with respect to changes in taxation rules on capital gains arising on the transfer of immovable property.

As a result, the Company’s net profit for the period under review contracted by 21.8% to €0.45 million which translates into an earnings per share of €0.2523 (FY April 2014: €0.3225).

The Statement of Financial Position shows a 5% increase in total assets to €8.2 million mainly reflecting the 12.4% increase in financial assets at fair value through profit or loss to €4.4 million. Meanwhile, total liabilities contracted by 10.3% to just below €0.5 million as the Company repaid its borrowings and lowered its deferred tax liability in line with the new taxation rules. Overall, the Company’s equity base grew by 6.1% to €7.7 million reflecting the profit registered during the financial year under review. This translates into a net asset value per share of €4.229 compared to the post-bonus adjusted figure of €3.985 as at 30 April 2014.

Dividend & Bonus Issue

The Directors did not recommend the payment of a final dividend.

The Directors proposed a 1 for 10 bonus share issue to all shareholders as at the close of trading on Wednesday 6 January 2016 subject to shareholders approval at the upcoming Annual General Meeting scheduled to be held on Friday 11 December 2015.

Download

Santumas Shareholdings plc – Financial Statements for the financial year ended 30 April 2015.

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