Santumas Shareholdings plc - Interim Results

Thursday, December 21st, 2017

On 21 December, Santumas Shareholdings plc published its interim report covering the six months ended 31 October 2017.

Performance Overview

The financial statements for the six months ended 31 October 2017 reveal a significant decline in revenue to €28,170 compared to €283,489 in the previous corresponding period. The drop is due to a 26.4% drop in investment income to €0.14 million (as the increase in dividend income was offset by a decline in income from ground rent redemptions) as well as decrease of €0.11 million in the fair value of financial assets in contrast to an uplift of €0.099 million in the previous corresponding period. Furthermore administrative expenses increased by 31.1% to €71,842.

As a result, Santumas Shareholdings plc incurred a loss before tax of €43,672 for the period under review compared to a pre-tax profit of €228,669 in the previous comparable period.

After accounting for taxation amounting to €41,328 (HY2016: €35,421), the net loss for the period under review amounted to €85,000 in contrast to the net profit of €193,248 registered in the previous corresponding period.

The Statement of Financial Position as at 31 October 2017 compared to the corresponding figures as at 30 April 2017 shows a 0.7% drop in total assets to €12.05 million largely reflecting the 35.7% drop in cash balances to €0.72 million. Meanwhile, total liabilities only contracted by 0.6% to €0.65 million. Overall, total equity contracted by 0.7% to €11.4 million reflecting the loss incurred during the period under review. This translates into a net asset value per share of €1.714 compared to €1.727 as at 30 April 2017 (both figures were adjusted for the 1 for 2 bonus issue effective 4 December 2017).

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Santumas Shareholdings plc – Interim Report covering the six months ended 31 October 2017

 

 

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