On 23 December 2019, Santumas Shareholdings plc published its interim financial statements covering the six months ended 31 October 2019.
During the period under review, the company registered a substantial increase in investment income to €0.43 million compared to €0.24 million in the corresponding period last year. The surge in investment income was, in the main, due to a material bonus issue by a major local financial services entity which positively impacted the company’s portfolio of local equity investments. On the other hand, Santumas Shareholdings plc incurred a larger decrease in the fair value of financial assets which increased by 22.3% to €0.29 million.
Administrative expenses remained virtually unchanged at €0.07 million. However, given the improvement in revenue, the company reported a marginal pre-tax profit of €0.07 million compared to a pre-tax loss of €0.06 million in H1 2018/19. After accounting for an income tax expense of €0.13 million, the company still reported a net loss of €0.06 million.
The Condensed Statement of Financial Position as at 31 October 2019 shows that total assets contracted minimally to €12.6 million when compared to the position as at the end of April 2019. Moreover, as total liabilities increased by 2.9% to €0.71 million, net assets decreased by 0.5% to €11.9 million which, in turn, translates into a net asset value per share of €1.627 (30 April 2019: €1.635 per share).