March 06, 2025
Sagicor Select Funds Limited Manufacturing & Distribution(SELECTMD)
Audited financials for the twelve months ended December 31, 2024:
Sagicor Select Funds Limited Manufacturing & Distribution (SELECTMD) for the twelve months ended December 31, 2024, reported a 20% increase in Interest Income totaling $15.86 million compared to $13.23 million in the corresponding period last year.
Dividend income amounted to $134.64 million (2023: 124.87 million), which represents an increase of 8% year over year. Consequently, net investment income increased by 257% to $781.83 million compared to $218.77 million for the twelve months ending December 31, 2023. The company booked a net investment income of $829.17 million for the fourth quarter versus $266.12 million reported for the similar quarter of 2023.
Financial assets at fair value through P&L increased by 680% to close at $629.43 million (2023: $80.68 million), while Total revenue increased by 257% from $218.77 million in 2023 to $781.83 million in the period under review. As a result, total revenue for the twelve months ended December 31, 2024, amounted to $781.83 million, a 257% increase relative to $218.77 million reported in 2023.
Management fees amounted to $12.86 million (2023: $11.73 million). Director’s fees remained at $1.98 million (2023: $1.98 million). Transaction costs for the twelve months ended December 31, 2024, amounted to $92,000, a 9% decrease relative to $101,000 reported in 2023.
Total expenses for the twelve months ended December 31, 2024, increased 21% to $33.43 million (2023: $27.73 million). Net profit for the twelve months amounted to $748.40 million, a 292% increase from the $191.05 million reported in 2023. For the fourth quarter, Net profit was $681.38 million (2023: $258.06 million).
Consequently, Earnings Per Share for the twelve months amounted to $0.20 (2023: EPS: $0.05), while Earnings Per Share for the quarter totaled $0.18 (2023: EPS: $0.07). The twelve-month trailing EPS was $0.20, and the number of shares used in these calculations was 3,816,612,000.
Notably, SELECTMD’s stock price closed the trading period on March 06, 2025, for $0.88 with a corresponding P/E ratio of 4.49x.
Balance Sheet Highlights
The company’s assets totaled $4.85 billion (2023: $4.10 billion). The overall growth in the company’s balance sheet is driven by a 72% year-over-year (YoY) increase in “Cash and Cash Equivalents,” which reached $279.47 million by year-end (2023: $162.87 million). Additionally, a 32% YoY rise in “Receivables” brought the total to $5.07 million (2023: $3.84 million), while “Financial assets at fair value through profit or loss” saw a 16% YoY increase, reaching $4.57 billion (2023: $3.94 billion).
Shareholder’s equity was $4.83 billion (2023: $4.08 billion), representing a book value per share of $1.26 (2023: $1.07).
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