Swicorp Wabel REIT Fund posts SAR 2.54 mln profit in Q4 2019

13/01/2020 Argaam

 

Swicorp Wabel REIT Fund’s net profit stood at SAR 2.54 million in Q4 2019, the fund manager said in a bourse statement.

 

Income Statement

Item

Q4 2019

Revenue (SAR mln)

*21.27

Net operating profit (SAR mln)

11.95

Net profit (SAR mln)

2.54

Number of units (mln units)

118.00

Earnings per unit (SAR)

0.02

*Includes revenue from advertising contracts at SAR 3 million in Q4 2019 

 

Swicorp Wabel REIT Fund reported net profit of SAR 8.33 million for Q3 2019 and SAR 26.35 million in H1 2019, so that the full-year earnings would reach SAR 37.22 million.

 

Net Asset Value (NAV) stood at SAR 1.1 billion by end of 2019, while NAV per unit hit SAR 9.59.

 

The fund reported SAR 37.75 million in total expenses and fees, and depreciation costs at SAR 37.14 million.

 

Income Statement

Item

From Aug. 6, 2018 to Dec. 31, 2018

2019

Revenue (SAR mln)

70.05

97.54 **

Net operating profit (SAR mln)

45.59

59.79

Net profit (SAR mln)

(57.92) *

37.22

Number of units (mln units)

118.00

118.00

Earnings per unit (SAR)

(0.49)

0.32

*includes losses at SAR 83.23 of asset impairment

**includes revenue from advertising at SAR 12 million.

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