On 18 August, Santumas Shareholdings plc published its full-year results covering the financial year ended 30 April 2017.
During the period under review, the Company suffered a 21.2% drop in revenues to €1.96 million (FY2015/16: €2.48 million) as the substantial increase in investment income (which nearly quadrupled to €1.55 million largely on the back of a one-time net income of €0.9 million generated from the redemption of a particular ground rent) was offset a sizeable reduction in the amount of positive fair value movements in financial assets and investment properties.
Administrative expenses increased by 15.6% to €0.13 million (FY2015/16: €0.11 million), largely reflecting an increase in the Directors’ remuneration as approved during the Annual General Meeting held on 14 October 2016.
Overall, Santumas Shareholdings plc reported a pre-tax profit of €1.83 million (FY2015/16: €2.37 million). After taking into consideration a tax expense of €0.24 million, the net profit of the Company of €1.59 million translates into an earnings per share of €0.3581.
The Statement of Financial Position shows a 15.2% increase in total assets to €12.1 million (30 April 2016: €10.5 million) reflecting the uplift in the value of financial assets as well as higher cash balances. Meanwhile, total liabilities advanced by only 1.3% to €0.66 million. Accordingly, the Company’s equity base grew by 16.1% to €11.5 million (FY2015/16: €9.89 million) which translates into a net asset value per share of €2.591 compared to €2.231 as at 30 April 2016.
Bonus Share Issue
During the upcoming Annual General Meeting to be held on Friday 27 October 2017, the Directors of the Company will be recommending the distribution of a 1 for 2 bonus share issue to all shareholders as at close of trading on Thursday 30 November 2017.