Santumas Shareholdings plc - Full-Year Results

On 23 August, Santumas Shareholdings plc published its full-year results covering the financial year ended 30 April 2018.

Performance Overview

During the 2017/18 financial year, the Company suffered a significant contraction in revenues to €0.07 million (FY2016/17: €1.96 million) as investment income slumped to €0.27 million on the back of lower dividends received from its investments in various local equites and the Company recognised a decrease of €0.52 million in the value of its investments (FY2016/17: increase in value of €0.3 million) in line with the 8.4% drop in the value of the MSE Equity Price Index during the twelve month period ended 30 April 2018. These declines were only partially offset by the €0.32 million increase in the fair value of the company’s property portfolio compared to a €0.1 mullion uplift in the previous financial year.

Administrative expenses increased by 19.9% to €0.15 million (FY2016/17: €0.12 million), largely reflecting an increase in wages and salaries as well as the Directors’ remuneration as approved during the Annual General Meeting held on 27 October 2017.

Overall, Santumas Shareholdings plc reported a pre-tax loss of €0.08 million (FY2016/17: pre-tax profit of €1.8 million). After taking into consideration a tax expense of €0.09 million, the net loss of the Company amounts to €0.17 million.

The Statement of Financial Position shows a 0.7% decrease in total assets to €12.05 million (30 April 2017: €12.14 million) largely reflecting the sharp drop in the value of the Company’s investments. Meanwhile, total liabilities advanced by 5.1% to €0.69 million. Accordingly, the Company’s equity base contracted by 1.03% to €11.36 million (FY2016/17: €11.48 million) which translates into a net asset value per share of €1.709 compared to €1.727 as at 30 April 2017.

Annual General Meeting

The announcement noted that the Annual General Meeting of the Company is scheduled to be held on Tuesday 23 October 2018.

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Santumas Shareholdings plc – Financial Statements for the financial year ended 30 April 2018.