On 22 December 2020, Santumas Shareholdings plc published its interim financial statements covering the six months ended 31 October 2020.
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).