Sygnus Credit Investments is reporting mixed results for the nine months ended March 26, with stronger quarterly performance but a decline in year-to-date profit.
For the March quarter, the company posted net profit of US$2.2 million, up nearly 20 per cent, compared to the same period last year, driven by stronger returns from its Puerto Rico credit business.
Nine-month net profit fell 30 per cent to US$4.85 million, however, reflecting timing delays in interest income, a large portfolio exit earlier in the year, and a one-off adjustment.
Sygnus says its Puerto Rico subsidiary continued to deliver record results, with total assets now above US$150 million and strong growth in its private credit portfolio.
The group also raised more than US$27 million in new capital during the period as it expanded its regional lending platform.
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