November 12, 2025
Sygnus Real Estate Finance Limited (SRFJMD)
Audited Financials for the Twelve Months Ended August 31, 2025
Sygnus Real Estate Finance Limited (SRFJMD), for the twelve months ended August 31, 2025, reported a 46% increase in Interest Income, totaling $262.78 million, compared to $180.07 million in the corresponding period last year. Interest Income for the fourth quarter also rose by 46%, closing at $262.78 million compared to $180.07 million for the comparable quarter of 2024.
Interest Expense amounted to $604.34 million (2024: $382.85 million), representing a 58% year-over-year increase. Consequently, Net Interest Expense totaled $341.56 million, compared to $202.78 million in 2024. The company recorded Net Interest Expense of $41.96 million for the fourth quarter versus $59.71 million reported for the similar quarter of 2024.
The company recorded a Fair Value Gain on Investment Properties of $1.08 billion, up from $524.13 million in the prior year. Other Income for the period was $73.51 million, compared to $67.47 million in 2024. As a result, Total Other Gains amounted to $365.85 million, an increase from $199.86 million reported in the previous year.
Management Fees increased by 29%, totaling $165.99 million (2024: $128.79 million), while Other Expenses rose by 21%, from $158.07 million in 2024 to $190.57 million in the period under review. As a result, Operating Expenses for the twelve months ended August 31, 2025, amounted to $432.52 million, a 31% increase relative to $330.74 million reported in 2024.
Consequently, the company recorded an Operating Loss of $66.67 million for the twelve months ended August 31, 2025, compared to an Operating Loss of $130.88 million in 2024. For the fourth quarter, the company reported an Operating Profit of $562.39 million, compared to $302.81 million in the corresponding quarter of 2024.
The Share of Profit from Joint Ventures amounted to $748.68 million, a 52% increase from $493.49 million reported in 2024, contributing positively to overall profitability.
Profit Before Taxation for the twelve months ended August 31, 2025, amounted to $682.01 million, an 88% increase relative to $362.61 million reported in 2024. Profit Before Taxation for the fourth quarter totaled $727.96 million (2024: $803.48 million).
Taxation Credit for the twelve months amounted to $105.00 million, compared to a taxation charge of $47.52 million in 2024. The swing from a charge to a credit primarily resulted from deferred tax adjustments and improved group performance.
As a result, Profit for the Year amounted to $787.01 million, representing a 150% increase compared to $315.08 million reported in 2024. For the fourth quarter, the company recorded Profit for the Period of $832.72 million, compared to $771.24 million in the corresponding quarter of 2024.
Total Comprehensive Income for the twelve months amounted to $786.83 million, compared to $314.92 million in 2024. For the quarter, Total Comprehensive Profit amounted to $832.66 million (2024: $771.09 million).
Earnings Per Share (EPS) for the twelve months amounted to $3.78 (2024: $1.51), while EPS for the quarter totaled $4.00 (2024: $3.71). The twelve-month trailing EPS was $3.78, based on 208,099,874 shares in issue.
Notably, SRFJMD’s stock price closed the trading period on November 11, 2025, at $8.30, with a corresponding P/E ratio of 2.19x.
Balance Sheet Highlights
The company’s total assets amounted to $17.04 billion (2024: $15.85 billion). This increase was primarily attributable to the company’s interest in joint ventures, which rose to $4.01 billion (2024: $2.03 billion).
Shareholders’ Equity stood at $9.21 billion (2024: $8.12 billion), representing a book value per share of $44.28 (2024: $39.00).
Disclaimer:
Analyst Certification – The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure – The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
