Santumas Shareholdings plc - Interim Results
On 29 December 2015, Santumas Shareholdings plc published its interim results for the six months ended 31 October 2015.
Performance Overview
During the period under review, Santumas Shareholdings plc generated investment income amounting to €213,703, which equates to an increase of 12% over the comparable period of 2014. Nonetheless, the main contributor to the Company’s increase in profits came from the substantial gains registered in the value of its financial assets which totaled €659,204, up from €28,341 in the corresponding period last year. Total revenue amounted to €872,907, which is almost four times the figure registered in the first six months last year (€218,824).
On the expenditure side, costs dropped by 53.1% to €59,605 as the one-off charge of circa €70,000 relating to last year’s change in the listing status of the company was not repeated this year.
As a result, pre-tax profits amounted to €813,302, which is well above the €91,616 figure registered in the corresponding period last year. After accounting for a tax charge of €56,896, the Company’s profit for the six months ended 31 October 2015 was €756,406 (31 October 2014: €46,655).
As a result of the increase in the fair value of the Company’s financial assets, the asset base of Santumas Shareholdings increased to €9.0 million (April 2015: €8.2 million) while shareholders’ funds increased from €7.7 million at the end of April 2015 to €8.5 million on 31 October 2015, resulting in a net asset value per share of €4.642.