Business
Full Year Results 2012
Full Year Results 2012.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n \nRNS Number : 4048B Greenwich Loan Income Fund Ltd 03 April 2013 \n\n \n \n \n \n \n \n \n \nGreenwich Loan Income Fund Limited\n \nFull Year Results 2012\n \n \n3 April 2013\n \nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\"), a specialist lender to small and medium sized enterprises, today announces its audited results for the twelve months ended 31 December 2012. \n \nFinancial highlights\n· Net asset value at 31 December 2012 of 49.1p per share (30 December 2011: 48.3p)\n· Invested assets with a fair value of £186.2m and cash of £27m at 31 December 2012, of which £16.6m of cash is within the CLO structure\n· Net income generation continues to grow - 8.7% increase in the Company's Q3 dividend\n· Share price increase of 20.2% from 42.75p to 51.38p during 2012 \n· Total shareholder return of 31.2% - 627% return since 2009\n· Interest income, dividends and other income totaling GBP15.4m (2011: GBP12.2m)\n· Operating expenses fell from GBP6.8m in 2011 to GBP5.4m in 2012. \n \n \nCompany highlights\n· Acquisition of BMS Finance plc (\"BMS\"), a specialist lender to small growth companies, primarily in the UK. Results continue to look promising.\n· Seeking shareholder approval to change the name of the Company to \"GLI Finance Limited\", to better reflect a more broadly based finance business in increasingly diverse geographic locations\n· Expanding executive management team - Geoff Miller appointed CEO and an internal CFO to be appointed\n \n \nOutlook and strategy\n· Focus on secured lending to small and medium sized enterprises \n· Diversify that lending across geographies and types of business;\n· Drive down cost/income ratio;\n· Optimise capital structure.\n· Multiple opportunities for growth across a number of jurisdictions, both in structured finance such a...