Musharaka REIT posts SAR 24.4 mln FFO, SAR 14.8 mln net profit in H1 2021

18/08/2021 Argaam Exclusive

View other reports

Musharaka REIT Fund reported a net profit of SAR 14.8 mln (SAR 0.17/unit) for H1 2021, compared to SAR 23.1 million a year earlier, Musharaka Capital, the fund manager, said in a bourse statement.

Funds from operations (FFO) reached SAR 24.4 million during the six-month period, compared to SAR 30 million in H1 2020.

Financials (M)

Item	6m 2020	6m 2021	Change‬
Rental Income	55.80	49.26	(11.7 %)
Funds from Operations(FFO)	34.69	30.34	(12.5 %)
Net Income	23.07	14.78	(35.9 %)
No of shares	88.00	88.00	-
Operating EPS (Riyals)	0.39	0.34	(12.5 %)
EPS (Riyals)	0.26	0.17	(35.9 %)

The profit drop was driven by a 15% slump in rental revenue, and an asset impairment of SAR 4.7 million.

Balance Sheet (Million)

Item	6m 2020	6m 2021	Change‬
Total Assets	1,337.70	1,347.91	0.8 %
Total Debt	402.14	453.92	12.9 %
Net assets attributable to the Unitholders Item	899.50	870.08	(3.3 %)
Market value of net assets	965.18	952.99	(1.3 %)

Net asset value (NAV) stood at SAR 870.08 million, while the NAV per unit reached SAR 9.89 during the six-month period.

The market value of assets reached SAR 889.08 million, with per unit market value at SAR 10.10.

View more financial results

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.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

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

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.

×