August 18, 2025
Sagicor Select Funds Limited Manufacturing & Distribution(SELECTMD)
Unaudited financials for the six months ended June 30, 2025:
Sagicor Select Funds Limited Manufacturing & Distribution (SELECTMD) for the six months ended June 30, 2025, reported a 2% decrease in Interest Income totaling $7.24 million compared to $7.38 million in the corresponding period last year. Interest Income for the second quarter had an 18% decrease to close at $3.04 million compared to $3.70 million for the comparable quarter of 2024.
Dividend Income amounted to $68.62 million (2024: $ 44.76 million), representing a 53% year-over-year increase. Consequently, net investment income decreased to a loss of $64.67 million compared to a gain of $227.31 million for the six months ending June 30, 2024. The company reported a net investment loss of $90.67 million for the second quarter, compared to a net income of $173.86 million for the same quarter of 2024.
Financial assets at fair value through P&L decreased to close at $140.53 million (2024: profit of $175.18 million).
Administration expenses for the six months ended June 30, 2025, amounted to $16.40 million, a 1% decrease relative to $16.53 million reported in 2024. Administration expenses for the second quarter amounted to 9.09 million (2024: $10.00 million).
Total expenses for the six months ended June 30, 2025, had a 1% decrease to reach $16.40 million (2024: $16.53 million). Net loss for the six months amounted to $81.20 million, a decrease from a profit of $210.78 million reported in 2024. For the second quarter, Net loss was $99.75 million (2024: profit of $163.87 million). “The Select M&D Fund’s six-month decline was primarily due to significant unrealized losses on financial assets at fair value, may have overshadowed dividend growth and stable expenses. However, this performance, while mirroring the current market conditions, also underscores the fund’s resilience. The structure of its holdings, which enhances the dividend yield on assets”
Consequently, Loss Per Share for the six months amounted to $0.02 (2024: EPS: $0.06), while Loss Per Share for the quarter totaled $0.03 (2024: EPS: $0.04). The twelve-month trailing EPS was $0.12, and the number of shares used in these calculations was 3,816,612,000.
Notably, SELECTMD’s stock price closed the trading period on August 17, 2025, at a price of $0.83 with a corresponding P/E ratio of 6.94x.
Balance Sheet Highlights
The company’s assets totaled $4.77 billion (2024: $4.31 billion). The increase in the company’s total asset base is driven by a 74% YoY increase in “Cash and Cash Equivalents” ending the quarter at $338.30 million (2024: $194.10 million), a 8% YoY increase in “Financial Assets at FVTPL” ending the quarter at $4.43 billion (2024: $4.11 billion) and a 98% YoY increase in “Receivables” ending the quarter at $4.86 million (2024: $2.45 million).
Shareholders’ equity was $4.75 billion (2024: $4.29 billion), representing a book value per share of $1.24 (2024: $1.12).
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