Sygnus Credit Investment Records US$1.4m Net Profits

Sygnus Credit Investment, which recently listed on the Jamaica Stock Exchange following a very successful Initial Public Offering, is reporting a net profit of USD$1.4-million for the financial year ending June 30.

This, the company is reporting amounts to USD$0.09 in basic and diluted earnings per share driven by total income of USD$1.8-million and total expenses of USD$414,000.

The company says it was pleased to have generated a positive first year of operations, with strong growth in core earnings, while providing risk-adjusted returns with downside protection.

As at June 30, Sygnus Credit had undeployed cash or ‘dry powder’ of USD$2-million to invest in portfolio companies, mainly consisting of capital raised in its initial public offering during the June 2018 quarter.

A meeting of the Board of Directors is set for tomorrow to among other things consider and if thought fit, pay an interim dividend to shareholders.

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