Mulkia Gulf REIT reports SAR 20 mln operating profit in H1 2019

07/08/2019 Argaam

 

Mulkia Gulf Real Estate REIT Fund has reported an operating profit of SAR 20.34 million (SAR 0.34/ unit) in H1 2019.

 

Mulkia REIT Income Statement (SAR mln)

Item

H1 2018

H2 2019

Variance%

Revenue (SAR mln)

26.32

28.98

+10%

Net operating profit (SAR mln)

17.96

20.34

+13%

Net operating profit per unit

0.30

0.34

+13%

Net profit (SAR mln)

14.37

19.96

+39%

Number of units (mln units)

60.0

60.0

--

Earnings per unit

0.24

0.33

+39%

 

A total of SAR 3.56 million in asset impairment losses were written back in the current quarter.

 

Net book value of assets stood at SAR 585.7 million, with a unit book value at SAR 9.76 at the end of June 2019.

 

Total operating expenses reached SAR 8.64 million, and depreciation expenses hit SAR 3.97 million in H1 2019. 

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