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March 6, 2023
Sagicor Select Fund Manufacturing & Distribution (SELECTMD)
For the twelve months ended December 31, 2022: –
Sagicor Select Fund Manufacturing & Distribution (SELECTMD) for the twelve months ended December 31, 2022 reported dividend income of $107.30 million (2021: $92.19 million). Interest income closed the twelve months period at $4.72 million and relative to $1.47 million last year.
Net changes in fair value on financial assets at fair value through P&L for the twelve month period amounted to a loss of $74.13 million compared to a gain of $791.62 million booked in 2021.
Gain on sale of financial assets amounted to $15.77 million compared to $9.65 million in 2021.
As such, total revenue for the twelve months under review equated to $53.66 million relative to $894.93 million the previous year.
Total expenses for the twelve-month period closed at $33.36 million (2021: $28.15 million).
Consequently, net profit closed the period at $20.30 million relative to $866.78 million last year.
Earnings per share for the period under review amounted to $0.005 relative to $0.23 in 2021, while for the quarter, SelectMD booked a loss per share (LPS) of $0.001 versus a LPS of $0.027 in 2021. The number of shares used in this calculation was 3,816,612,000 shares. As at March 3, 2023 the stock traded at $0.51.
Balance Sheet Highlights:
Total assets, as at December 31, 2022, amounted to $4.03 billion (2021: $4.08 billion). Of this, Financial assets at fair value through profit or loss totalled $3.86 billion (2021: $4.02 billion).
Total equity as at December 31, 2022 amounted to $4.01 billion (2021: $4.06 billion), resulting in a net asset value per share of $1.05 (2020: $1.06).
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.
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