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
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.