Santumas Shareholdings plc - Full-Year Results

On 28 August 2024, Santumas Shareholdings plc published its Annual Report and Financial Statements for the financial year ended 30 April 2024.

Investment income fell by 11.1% to €0.42 million (FY2022/23: €0.47 million) as the lower income from property contractual rights offset the higher dividend income.

Meanwhile, the financial performance was positively impacted by fair value gains of financial assets totalling €0.74 million compared to gains of €0.23 million in the previous financial year. Furthermore, the company also recognised  gains in fair value of investment properties of €0.31 million (FY2022/23: €0.29 million).

On the expenditure side, administrative expenses climbed by 8.6% to €0.17 million reflecting higher staff costs.

Overall, profit before tax surged by 55% to €1.29 million compared to €0.83 million in the previous financial year. After accounting for a tax charge of €0.17 million, Santumas Shareholdings posted a net profit of €1.12 million (FY2021/22: €0.74 million).

The Statement of Financial Position as at 30 April 2024, when compared to a year earlier, shows that total assets grew by 10% (or €1.24 million) to €13.7 million largely reflecting the increase in the value of financial assets and properties. Total liabilities increased by 9.3% (or €0.08 million) to €0.92 million largely due to higher levels of deferred taxes. Total equity increased by 10.0% (or €1.16 million) to €12.8 million, translating into a net asset value per share of €1.746.

Outlook

In their commentary, the Directors explained that the company remains dependent on the domestic economic situation to produce real growth in its asset base. In this context, the moderate real GDP growth in the current year bodes well for future returns. The Directors concluded that when considering that the company remains well capitalised with no material debt, this allows for a degree of cautious optimism for the months ahead.