March 1, 2022
Sagicor Select Fund Manufacturing & Distribution (SELECTMD) for the year ended December 31, 2021 reported, dividend income of $92.19 million for the year and $68.55 million last year. Whereas other net changes in fair value amounted to a gain of $791.62 million for the year relative to a loss of $718.12 million in 2020. Interest income closed the year at $1.47 million relative to $1.92 last year. No other income was reported (2020: $6.24 million), gain on sale of financial assets at fair value amounted to $9.65 million relative to a loss of $8.31 million the prior year.
As such, total gain for the year under review totalled $894.93 million relative to total income of $649.72 million the previous year. The total loss for the quarter amounted to $96.72 million relative to total income of $240.38 million twelve months earlier.
Total expenses for the year closed at $28.15 million (2020: $27.87 million), while for the quarter, expenses amounted to $51.44 million (2020: $50.42 million).
Consequently, net profit closed for the year at $866.78 million relative to a net profit of $677.59 million last year. Whereas the quarter net loss amounted to $101.58 million versus the net profit of $235.06 million booked last year.
Earnings per share for the year under review amounted to $0.23 relative to an LPS of $0.18 in 2020. While for the quarter, SelectMD booked LPS $0.03 of versus an EPS of $0.06 in 2020. The number of shares used in this calculation was 3,816,612,000 shares. As at February 28, 2022 the stock traded at $0.77 with a corresponding P/E ratio of 3.17 times.
Balance Sheet Highlights:
Total assets, as at December 31, 2021, amounted to $4.08 billion (2020: $3.28 billion). Of this, ‘Cash and Cash Equivalents’ booked $57.82 million (2020: $128.54 million), while ‘Financial assets at fair value through profit or loss’ totalled $4.02 billion (2020: $3.15 billion).
Total equity as at December 31, 2021 amounted to $4.06 billion (2020: $3.27 billion), resulting in a book value per share of $1.06 (2020: $0.86).
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