Al Maather REIT Fund posts FFO of SAR 21.7 mln, net profit of SAR 10.2 mln in H1 2022

17/08/2022 Argaam Exclusive

Al Maather REIT Fund posted a net profit of SAR 10.2 million (SAR 0.17 per unit) for H1 2022, a 9% decline compared to SAR 11.3 million a year earlier.

 

Funds from operations (FFO) amounted to SAR 21.7 million in H1 2022, compared with SAR 18.5 million in H1 2021.



Financials (M)

Item 6m 2021 6m 2022 Change‬
Rental Income 24.95 31.17 24.9 %
Funds from Operations(FFO) 18.49 21.69 17.3 %
Net Income 11.28 10.24 (9.2 %)
No of shares 61.37 61.37 -
Operating EPS (Riyals) 0.30 0.35 17.3 %
EPS (Riyals) 0.18 0.17 (9.2 %)

The profit decline was attributed to higher fund management fees, other expenses, and Zakat charges.

  

The fund booked SAR 1.4 million in provision for impairment loss on investment properties compared to reversing a provision for impairment in investment real estate of SAR 1 million.

 

Meanwhile, depreciation expenses and financing charges increased in H1 2022 compared to the same period a year earlier.



Balance Sheet (Million)

Item 6m 2021 6m 2022 Change‬
Total Assets 661.16 734.80 11.1 %
Total Debt 100.46 201.07 100.1 %
Net assets attributable to the Unitholders Item 536.75 508.28 (5.3 %)
Market value of net assets 593.93 587.58 (1.1 %)

Net asset value (NAV) as of June 30, 2022, stood at SAR 508.279 million, while net book value per unit reached SAR 8.28.

 

The market value of assets stood at SAR 587.58 million as of June 2022-end, with market value per unit at SAR 9.57.

 

View More Financial Results

 

View other reports

Share Price

AL Maather REIT Fund
9.40
0.00 0.00 %

AL Maather REIT Fund (AL MAATHER REIT)

More


Financial Ratios
Current
Number of Units (Million) 61.37
Net Income/Unit ( Riyal) 0.67
Funds from operations/Unit ( Riyal) 0.70
P/E (X) (TTM) 14.05
Current Price/FFO (X) 13.36
Par Value ( Riyal) 10.00
Price/book 1.12
Asset Growth (%) (1.11 )
Revenue Growth (%) 5.9
Net Income Growth (%) (6.46 )
Adjusted P/E (Last12) (X) 14.05
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request