Santumas Shareholdings plc - Interim Results
On 22 December 2020, Santumas Shareholdings plc published its interim financial statements covering the six months ended 31 October 2020.
Performance Overview
During the period under review, the company registered a substantial decline in the fair value of its financial assets of €0.81 million compared to a €0.29 million drop in the previous comparable six month period reflecting the adverse impact of COVID-19 across the local equity market. Additionally, investment income contracted to just below €0.17 million from €0.43 million in the previous comparable six months as various companies suspended dividend payments.
Administrative expenses increased by 8.4% to €0.07 million.
Overall, the company reported a net loss of €0.72 million and after accounting for a tax charge of €0.02 million, a net loss of €0.74 million was registered compared to a net loss of €0.06 million in the six months ended 31 October 2019.
The Condensed Statement of Financial Position as at 31 October 2020 shows that total assets contracted by 6% to €11.1 million largely reflecting the aforementioned decline in the fair value of the financial assets. Meanwhile, total liabilities increased by 4.3% to €0.73 million. Overall, shareholders’ funds contracted by 6.7% to €10.39 million which, in turn, translates into a net asset value per share of €1.421 (30 April 2020: €1.523 per share).