Record interest income and incremental income on investment exits 

Durrant Pate/Contributor

Jamaican listed regional investment company, Sygnus Credit Investments (SCI) has seen its net profit for its 2026 financial year surge 123% to US$9.55 million, reflecting a 123% increase from the US$4.28 million posted last year.

Taxation charge for the year ended June 30 was US$668,004 (2025: US$841,966), a decline of 21%. Earnings Per Share (EPS) for the year closed on J$2.60 (2025 EPS: J$1.18). The stock price closed last week at a price of J$10.09 with a corresponding P/E ratio of 3.88x.

SCI witnessed an 18% increase in total interest income of US$26.30 million, up from US$22.29 million last year. Of this, interest income rose 18% to US$23.80 million (2025: US$20.14 million), while other interest income increased 17% to US$2.50 million (2025: US $2.15 million).

Interest expense amounted to US$14.55 million (2025: US$13.43 million), this represents an increase of 8% year over year. Consequently, net interest income increased by 32% to US$11.75 million, up from US$8.87 million for the year ended June 30, 2025. 

Record net interest income 

Management reports that the 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 US$8.43 million (2025: US$4.34 million), while other income increased by 41% from US$98,776 in 2025 to US$139,546 in the period under review. 

However, the company booked a net foreign exchange loss of US$471,606 relative to a net gain of US$636,077 in 2025. As a result, total revenue for the year ended June 30, 2026, amounted to US$19.84 million, a 42% increase relative to US$13.94 million reported in 2025.

Management fees increased by 7% to close at US$3.64 million (2025: US$3.39 million), while corporate service fees increased by 80% from US$282,621 in 2025 to US$508,477 in the period under review. Performance fees reflected a reversal of US$152,963 (2025: charge of US$249,790). 

Balance Sheet Highlights

Eppley’s assets totalled US$251.53 million (2025: US$221.65 million). The growth in total assets was primarily driven by increases in Investments and interest receivable by US$29.04 million and US$1.62 million, respectively. 

Total investments in portfolio companies reached a record US$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 US$170.81 million (2025: US$148.48 million), comprising mainly notes payable of US$73.44 million and preference shares of $84.34 million. Shareholder’s equity was US$80.73 million (2025: US$73.17 million), representing a book value per share of J$22.00 (2025: J$20.27).