Sygnus Credit Investments Limited is reporting record nine-month revenue, core earnings and net profits for the period ending March 2021
The company says it was driven by growth in its private credit investment portfolio
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For the quarter ended March 2021
- Investment income or Core Revenues jumped 51% this quarter over US$500 thousand to a record US$1.6m
- Core revenues are interest income plus participation and commitment fees
- They also make money from non-core revenues which include (fair value gains, foreign exchange gains and gain on sale of investments)
- Net profit to shareholders was US$1.03m vs a net loss of US$355.8 thousand last year
- Expenses jumped more than 50% during the quarter, due to higher management fees (as they were managing a larger asset base) and higher corporate services fees. Those two make up three-quarters of the expenses.
- They now have investments in 30 portfolio companies compared to 21 last year – with an average investment of almost US$2.5m in each company
- They have another US$8.2m to invest which means at least another 3 to 4 companies
- Their current investments are mainly in companies in Hospitality (18%), Finance (15%), Infrastructure (14%) & Manufacturing (12%)… significantly below their 35% industry target.
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