Sygnus Credit Investments Limited reported strong financial results for the three months ended September 30, with total investment income eclipsing the US$5.00 million mark and net investment income surpassing US$4.00 million, which were quarterly records.

The top-line performance was driven by strategic portfolio exits and strong results from its Puerto Rican subsidiary, Sygnus Capital PR LLC. During the quarter, the group continued to deliver value to shareholders through dividends while maintaining adequate dry powder, providing flexibility to support Jamaican businesses across key sectors in the wake of Hurricane Melissa.

During the quarter, SCI reported total investment income of US$5.25 million, compared to US$5.09 million in the prior year period. This performance was driven primarily by record net interest income of US$3.18 million, which increased by 37.9 per cent, supported by stronger interest income augmented by incremental fees generated from more than US$20.00 million in portfolio company investment exits during the quarter.

SCI’s Puerto Rico operations also contributed positively, with its subsidiary Sygnus Capital PR LLC delivering a record total investment income amounting to US$2.52 million, reinforcing the strength and scalability of SCI’s regional private credit platform. Total operating expenses were US$1.24 million, slightly lower than US$1.26 million in the prior year, reflecting the reversal of fees in the current quarter that had been previously recognised in the last financial year. 

As part of its ongoing commitment to delivering shareholder value, SCI declared an interim dividend of US$1.00 million, or US$0.00172 per share, approved on September 12 and paid on October 10. This latest distribution brings total dividends paid since the Company’s initial public offering in 2018 to US$17.70 million, representing 29.1 per cent of its share capital.

Reflecting on SCI’s performance, Jason Morris, executive vice president and chief investment officer at Sygnus, said, “The new milestones for total investment income and net investment income reflect the strength of SCI’s private credit strategy spanning the English-speaking and Spanish-speaking Caribbean. The performance of our Puerto Rico operations supported SCI eclipsing US$4 million in net investment income for a quarter, a first since inception. The group ended the quarter with ample dry powder from investment exits during the period, positioning the business to support our portfolio companies and respond to the evolving needs of Jamaican businesses as the economy stabilises following Hurricane Melissa.”

“SCI remains focused on scaling private credit across the Caribbean, deepening partnerships, and executing our growth strategy with the resilience that has always defined our business. Our focus is to do our part in accelerating the recovery of Jamaican businesses and delivering consistent value to our investors,” he continued.

With Jamaica now entering a crucial phase of economic recovery following the widespread impact of Hurricane Melissa, SCI has observed increased demand from companies seeking flexible financing to support restoration and rebuilding efforts.

SCI ended the quarter with strong liquidity and a flexible capital position, which management contended provides the group with the ability to respond to evolving market conditions and continue supporting Jamaican businesses, including discussions regarding the drawdown of an approved facility aimed at supporting Jamaican medium-sized enterprises.

Drawing on lessons learned from the COVID-19 period, the group is prioritising active risk management, the preservation of liquidity and the expansion of local and international partnerships to accelerate recovery efforts across affected sectors.

Looking ahead, SCI remains focused on strengthening its capital base and expanding its capacity to support regional private credit demand. The company will continue to support its portfolio while advancing strategic initiatives that reinforce its position within the regional private credit landscape.