August 31, 2026
Sygnus Credit Investments Limited (SCIJMD)
Audited financials for the year ended June 30, 2026:
Expressed in United States dollars (except where indicated otherwise)
Sygnus Credit Investments Limited (SCIJMD) for the year ended June 30, 2026, reported an 18% increase in Total interest income totaling $26.30 million compared to $22.29 million in the corresponding period last year. Of this, interest income calculated using the effective interest method rose 18% to $23.80 million (2025: $20.14 million), while other interest income increased 17% to $2.50 million (2025: $2.15 million).
Interest expense amounted to $14.55 million (2025: $13.43 million), this represents an increase of 8% year over year. Consequently, net interest income increased by 32% to $11.75 million compared to $8.87 million for the year ended June 30, 2025. Management noted that record net interest income reflected growth in assets under management, the reacceleration of deployment during the second half of the year, and incremental income earned on investment exits, which more than offset higher interest expenses driven by the increased use of debt capital to fund portfolio growth.
Fair value gains from financial instruments at FVTPL increased by 94% to close at $8.43 million (2025: $4.34 million), while other income increased by 41% from $98,776 in 2025 to $139,546 in the period under review. However, the company booked a net foreign exchange loss of $471,606 relative to a net gain of $636,077 in 2025. As a result, total revenue for the year ended June 30, 2026, amounted to $19.84 million, a 42% increase relative to $13.94 million reported in 2025.
Management fees increased by 7% to close at $3.64 million (2025: $3.39 million), while corporate service fees increased by 80% from $282,621 in 2025 to $508,477 in the period under review. Performance fees reflected a reversal of $152,963 (2025: charge of $249,790). Also, Impairment allowance on financial assets for the year amounted to $3.86 million, a 12% increase relative to $3.44 million reported in 2025, which management attributed to higher impairment allowances taken primarily against one stage 2 portfolio company whose private credit terms were restructured during the year, along with higher provisions for Jamaican portfolio companies recovering from Hurricane Melissa. Other expenses totalled $1.76 million (2025: $1.45 million), up 21%. As a result, Total Expenses totalled $9.62 million, a 9% increase from the corresponding period last year (2025: $8.82 million).
Profit before tax for the year ended June 30, 2026, amounted to $10.22 million, a 100% increase relative to $5.12 million reported in 2025.
Taxation charge for the year amounted to $668,004 (2025: $841,966), a decline of 21%. As such, Profit for the year, being total comprehensive income, amounted to $9.55 million, a 123% increase from the $4.28 million reported in 2025.
Consequently, Earnings Per Share for the year amounted to J$2.60 (2025: EPS: J$1.18). The number of shares used in these calculations was 580,564,096.
Notably, SCIJMD’s stock price closed the trading period at a price of J$10.09 with a corresponding P/E ratio of 3.88x.
Balance Sheet Highlights
The company’s assets totalled $251.53 million (2025: $221.65 million). The growth in total assets was primarily driven by increases in Investments and Interest Receivable by $29.04 million and $1.62 million, respectively. Total investments in portfolio companies reached a record $238.81 million, while the number of portfolio company investments excluding the Puerto Rico Credit Fund increased to 46 from 38 last year.
Total liabilities closed at $170.81 million (2025: $148.48 million), comprising mainly notes payable of $73.44 million and preference shares of $84.34 million.
Shareholder’s equity was $80.73 million (2025: $73.17 million), representing a book value per share of J$22.00 (2025: J$20.27).
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