On 16 December 2016, Santumas Shareholdings plc published its interim results for the six months ended 31 October 2016.
During the period under review, Santumas Shareholdings plc generated investment income amounting to €0.18 million. This is 13.6% lower than the comparable period last year reflecting the lower dividends received by the Company from its portfolio of investments in locally listed companies. Santumas Shareholdings plc also registered much lower positive fair value movements amounting to nearly €0.1 million when compared to €0.66 million in H1 2015 as the performance of the local equity market was relatively flat between the end of April 2016 and October 2016.
Meanwhile, total costs decreased by 8.0% to €0.05 million. Nonetheless, given the larger drop in revenues, pre-tax profits dropped to €0.23 million. After accounting for a tax charge of €0.04 million, the Company made a net profit of €0.19 million (H1 2015: €0.76 million).
During the period under review, Santumas Shareholdings plc completed the purchase of a flat overlying another property owned by the Company in Paceville, St Julian’s. Overall, the Company’s asset base grew by 1.6% to €10.7 million since 30 April 2016. Similarly, shareholders’ funds increased from €9.9 million to €10.1 million, resulting in a net asset value per share of €2.275 (30 April 2016: €2.231).
The Directors of the Company also made reference to the recent conclusion of a material transaction amounting to €1.19 million which involved the sale of an investment property having a carrying value of €0.29 million. Further details are available from here.