May 19, 2025

Sygnus Credit Investments Limited (SCI)

Unaudited Financials for the Nine Months Ended March 31, 2025

Expressed in United States dollars (except where indicated otherwise)

Sygnus Credit Investments Limited (SCI) reported a 19% increase in interest income, totalling $15.05 million for the nine months ended March 31, 2025, compared to $12.59 million in the corresponding period last year. Interest income for the third quarter increased by 13%, closing at $5.60 million compared to $4.97 million for the comparable quarter of 2024.

Interest expense amounted to $9.90 million (2024: $6.94 million), representing a 43% year-over-year increase, while other interest income amounted to $1.57 million (2024: $1.00 million). Consequently, net interest income increased by 1% to $6.72 million compared to $6.66 million for the nine months ended March 31, 2024. The company booked net interest income of $2.60 million for the third quarter versus $2.35 million reported for the similar quarter of 2024.

Fair value gains on investment increased by 276%, closing at $5.18 million (2024: $1.38 million), while net foreign exchange gains amounted to $254,621in the period under review (2024: loss of $197,371). As a result, total revenue for the nine months ended March 31, 2025, amounted to $12.36 million, a 52% increase relative to $8.13 million reported in 2024.

Management fees for the nine months ended March 31, 2025, amounted to $2.50 million, a 19% increase relative to $2.10 million reported in 2024. Management fees for the third quarter amounted to $863,870 (2024: $762,678). Total expenses totalled $5.05 million, a 40% increase from the corresponding period last year (2024: $3.62 million).

Profit before tax for the nine months ended March 31, 2025, amounted to $7.31 million, a 62% increase relative to $4.51 million reported in 2024. Profit before tax for the third quarter amounted to $1.91 million (2024: $2.11 million).

The taxation charge for the nine months ended March 31, 2025, increased by 108% to reach $338,203 (2024: $162,712).

Profit for the year, being total comprehensive income for the nine months, amounted to $6.97 million, a 60% increase from the $4.35 million reported in 2025. For the third quarter, profit for the year, being total comprehensive income, was $1.84 million (2024: $2.07 million).

Consequently, earnings per share for the nine months amounted to $0.03 (2024: EPS: $0.02), while earnings per share for the quarter totaled $0.008 (2024: EPS: $0.009). The twelve-month trailing EPS was $0.03, and the number of shares used in these calculations was 337,964,858.

Notably, SCIJMD’s stock price closed the trading period on May 16, 2025, at a price of J$12.50 with a corresponding P/E ratio of 2.46x.

Balance Sheet Highlights

The company’s assets totaled $228.41 million (2024: $198.61 million). This increase was attributable to investments which amounted to $214.63 million (2024: $180.81 million).

Shareholders’ equity was $75.86 million (2024: $70.82 million), representing a book value per share of $0.31 (2024: $0.29).

Shareholders’ equity was $75.86 million (2024: $70.82 million), representing a book value per share of $0.31 (2024: $0.29).

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