Al Mashaar REIT posts SAR 6 mln profit in Q4 2019

12/01/2020 Argaam

 

Al Mashaar REIT Fund posted a net profit of SAR 6.17 million during the fourth quarter of 2019, according to a bourse filing on Sunday.

 

Net operating income reached SAR 6 million in Q4 2019, while revenues hit SAR 9.7 million for the same period. 
 

Income Statement (Q4 2019)

Total revenue (SAR mln)

9.74

Net operating income (SAR mln)

7.75

Net profit (SAR mln)

6.18

Number of units (mln)

57.24

Profit per unit (SAR/ unit)

0.11

 

The fund’s net profit for Q3 2019 hit SAR 6.18 million and SAR 12.08 million in H1 2019, while profits reached SAR 24.44 million for FY 2019.

 

Income Statement

Period

Dec. 27, 2017- Dec. 31, 2018

2019

Total revenues (SAR mln)

39.17

38.64

Net operating income (SAR mln)

31.11

31.05

Net profit (SAR mln)

24.64

24.44

Number of units (mln)

57.24

57.24

Profit per unit (SAR/ unit)

0.43

0.43

 

By the end of 2019, book value of assets recorded SAR 576.83 million, while total expenses stood at SAR 7.59 million.

 

Depreciation expenses of Al Mashaar REIT amounted to SAR 6.92 in 2019, while NAV per unit reached SAR 10.08 in the same period.

 

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