Sancus Lending Group Limited NPV (LEND)

Sector:

Investment Firms

 0.55p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.85p
  • 52 Week Low: 0.18p
  • Currency: UK Pounds
  • Shares Issued: 6.27m
  • Volume: 0
  • Market Cap: £0.03m

GLI Finance swings to loss amid strategic review

By Josh White

Date: Monday 26 Sep 2016

LONDON (ShareCast) - (ShareCast News) - GLI Finance posted its unaudited interim results for the six months to 30 June on Monday, with losses for the period of £6.9m, compared to a £5.3m profit in the first half of 2015.
The AIM-traded company's board said earnings were impacted by £13m of write-downs in investments in underperforming or liquidated platforms following its strategic review.

Its full business strategic review, undertaken during the period, included a review of the cost base, capital structure, detailed assessment of equity and loan investments and valuations.

As a consequence of making early write downs and recognising losses in underperforming assets, together with raising capital and reorganising Sancus BMS Group, the company's balance sheet was strengthened at the period, according to the board.

The numbers didn't lie, however, with net asset value per share decreasing to 37.07p from 42.73p.

GLI's debt-to-gross asset ratio reduced to 30%, from 33% at the start of the period, and the company's net assets increased to £105.6m from £98.2m.

Its weighted average cost of debt decreased to 6.8% for the period, from 8.6% in the year to 31 December 2015.

"The last six months have marked the beginning of a period of significant transformation for GLI Finance," said chairman Patrick Firth.

"We continue to restructure the business in order to reduce its complexity, remove potential conflicts of interests and optimise our allocation of capital and resource.

"We have made good progress in establishing the basis for a strong business that is sustainable over the long-term and well positioned to take advantage of significant market opportunities in order to generate value for our shareholders," he explained.

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LEND Market Data

Currency UK Pounds
Share Price 0.55p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.85p
52 Week Low 0.18p
Volume 0
Shares Issued 6.27m
Market Cap £0.03m

LEND Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
19.66% below the market average19.66% below the market average19.66% below the market average19.66% below the market average19.66% below the market average
11.78% above the sector average11.78% above the sector average11.78% above the sector average11.78% above the sector average11.78% above the sector average
Price Trend
74.9% below the market average74.9% below the market average74.9% below the market average74.9% below the market average74.9% below the market average
93.87% below the sector average93.87% below the sector average93.87% below the sector average93.87% below the sector average93.87% below the sector average
Income Not Available
Growth
6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average6.99% above the market average
10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average10.03% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LEND Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 02-Mar-17 27-Oct-16
Paid 21-Apr-17 15-Dec-16
Amount 0.62p 0.62p

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