August 17, 2021
Sagicor Select Fund Financial (SELECTF) for the six months ended June 30, 2021 reported dividend income of $38.49 million (2020: $38.35 million). Interest income closed the six months period at $536,000 and relative to $562,000, last year. Gain on sale of financial assets at fair value through profit or loss amounted to $341,000 relative to a loss of $1.82 billion booked last year.
Net investment income amounted to $39.37 million relative to a net investment loss of $1.78 billion booked last year.
Net foreign currency gains and other income amounted to $226,000 relative to $64,000 in 2020.
As such, total revenue for the period under review equated $39.59 million relative to total loss of $1.78 billion the previous year. The total income for the quarter amounted to $88.21 million relative to total loss of $318.01 million twelve months earlier.
Total expenses for the six months period closed at $21.35 million (2020: $21.07 million), while for the quarter, expenses amounted to $15.26 million (2020: $5.73 million).
Consequently, net profit closed the six months period at $18.24 million relative to a net loss of $1.80 billion last year. Whereas the quarter net profit amounted to $72.94 million versus the net loss of $323.74 million booked last year.
Earnings per share for the period under review amounted to $0.0036 relative to a LPS of $0.35 in 2020, while for the quarter, SelectF booked EPS of $0.01 versus a LPS of $0.06 in 2020. Twelve-month trailing EPS was $0.046. The number of shares used in this calculation was 3,816,612,000 shares. As at August 16, 2021 the stock traded at $0.56.
Balance Sheet Highlights:
Total assets, as at June 30, 2021, amounted to $4.39 billion (2020: $4.15 billion). Of this, Financial assets at fair value through profit or loss totalled $4.29 billion (2020: $4.05 billion).
Total equity as at June 30, 2021 amounted to $4.35 billion (2020: $4.14 billion), resulting in a net asset value per share of $0.85 (2020: $0.81).
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