AlJazira REIT Fund reported a net profit of SAR 2.6 mln (SAR 0.22/unit) for the first half of 2021, against a net loss of SAR 5.3 million a year earlier, the fund manager Aljazira Capital said in a bourse statement.
Funds from operations (FFO) reached SAR 1.9 million during the six-month period, against losses of SAR 2 million in the year-earlier period.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Rental Income | 3.10 | 2.53 | (18.5 %) |
| Funds from Operations(FFO) | (2.03) | 1.86 | 191.8 % |
| Net Income | (5.29) | 2.60 | 149.3 % |
| No of shares | 11.80 | 11.80 | - |
| Operating EPS (Riyals) | (0.17) | 0.16 | 191.8 % |
| EPS (Riyals) | (0.45) | 0.22 | 149.3 % |
The positive performance was backed by a reversal of impairments in investment properties of SAR 1.2 million in H1 2021, compared to a provision of SAR 2.8 million a year earlier. The fund incurred expected credit loss expenses of SAR 4 million in H1 2020. Moreover, the fund management fees dropped 17% year-on-year (YoY).
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Total Assets | 105.41 | 87.34 | (17.1 %) |
| Total Debt | - | - | - |
| Net assets attributable to the Unitholders Item | 104.38 | 84.83 | (18.7 %) |
| Market value of net assets | 95.25 | 84.10 | (11.7 %) |
Net asset value attributable to the unitholders by the end of the period reached SAR 84.83 million, while the asset book value attributable to the unit stood at SAR 7.19.
Net asset value (NAV) reached SAR 84.1 million in H1 2021, while the asset value attributable to the unit stood at SAR 7.13.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}