On 29 August 2023, Santumas Shareholdings plc published its Annual Report for the financial year ended 30 April 2023.
The company’s investment income surged by 39.0% to €0.47 million (FY2021/22: €0.34 million) as the higher level of income from property contractual rights outweighed the lower amount of dividend income. Furthermore, Santumas Shareholdings recorded an increase of €0.23 million in the fair value of its financial investments compared to a €0.63 million decrease in the previous year and a €0.29 million increase in the value of its property portfolio (FY2021/22: €0.15 million gain).
Administrative expenses climbed by 2.2% to €0.14 million largely reflecting higher staff costs.
Overall, Santumas Shareholdings reported a profit before tax of €0.83 million compared to a €0.29 million loss in the previous financial year. After accounting for a tax charge of €0.1 million, Santumas Shareholdings posted a net profit of €0.74 million compared to a loss of €0.38 million in 2021/22.
The Statement of Financial Position as at 30 April 2023, when compared to the corresponding figures as at 30 April 2022, shows that total assets grew by 6.8% to €12.4 million (FY2021/22: €11.7 million) largely reflecting the increase in the value of financial assets and properties. Meanwhile, total liabilities increased by 5.2% to €0.84 million mostly driven by a higher tax liability. Meanwhile, the equity base increased by 6.9% to €11.6 million driven by higher retained earnings (30 April 2022: €10.9 million), which translates into a net asset value per share of €1.587.