On 22 August, Santumas Shareholdings plc published its Annual Report for the financial year ended 30 April 2012. During the twelve months under review, the Company reported a loss of €290,685 mainly due to a €426,093 decrease in the fair values of financial assets relating to equities listed on the Malta Stock Exchange (30 April 2011 loss of €139,698). The latter offset the 13.1% increase in investment income to €256,626 as well as the €79,557 increase in the value of investment property owned by the Company.
The financials of Santumas were also negatively impacted by the 4.6% increase in administrative expenses to €110,494 mainly reflecting the jump in professional and legal fees to €11,163 compared to €3,025 in the previous financial year. Moreover, the Company incurred a 19.3% increase in finance costs to €1,932 as the Company’s overdraft reached €305,812 from €18,164 in the last financial year.
The directors did not recommend a final dividend.
Download a copy of the Santumas Shareholdings plc 30 April 2012 Annual Report and Financial Statements