Business
Unaudited Interim Results 201
Unaudited Interim Results 201.
About this update from Sancus Lending Group Limited
[{"type":"text","content":"\n RNS Number : 2302T Greenwich Loan Income Fund Ltd 24 September 2010 \n \n\n \n \nGreenwich Loan Income Fund Limited\n \nUnaudited Interim Results 2010\n \n24 September 2010 \n \n \nGreenwich Loan Income Fund Limited (\"GLIF\" or the \"Company\"), a close-ended Guernsey exempt investment company, investing in debt securities of companies across multiple sectors, today announces its unaudited results for the six months ended 30 June 2010. The Company's portfolio consists almost entirely of corporate loans, almost all of which are held within the Company's collateralized loan obligation (\"CLO\") subsidiary.\n \n \nFinancial highlights\n· Invested assets with a fair value of £180.9 million (H1 2009: £121.7 million) and cash of £17.7 million (H1 2009: £23.3 million) at 30 June 2010, of which £177.7 million of the investments and £10.0 million of cash are within the CLO structure.\n· Net asset value at 30 June 2010 of 81p per share (H1 2009: 144p). \n· Net profit, including the combination of net unrealized gains on investments and liabilities, for the period of £10.0 million (H1 2009: £13.2 million). \n· Basic earnings per share of 11.5p (H1 2009: 30.7p).\n· Dividends declared of 2.0p per share in respect of the 6 month period to 30 June 2010\n(H1 2009: Nil)\n \n \nCommenting, Geoffrey Miller, Chairman of GLIF, said:\n \n\"I am pleased to report another encouraging set of results for the Company. The portfolio overall has performed strongly, the credit quality of the portfolio has improved and the CLO has met all of the covenant tests necessary for dividend payments to be made. The Company can look forward to the second half of the year in a position to take advantage of opportunities as they occur to enhance shareholder value.\" \n \n \nFor further information, please contact:\n \n \nGeoffrey Miller\nGreenwich Loan Income Fund Limited\n+353 1 4433 466\n \nPatrick Conroy\nGreenwich Loan Income Fund Limited\n+1 203 983 5282\n \nPhilip Secrett\nNominated Adviser\nGrant Thornton Corporate Finance\n+44 207 383 5100\n \nJames Maxwell \nSinger Capital Markets Limited \n+44 (0) 20 3205 7622...