Santumas Shareholdings plc - Interim Results
On 23 December 2019, Santumas Shareholdings plc published its interim financial statements covering the six months ended 31 October 2019.
Performance Overview
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).