Financial Results : Musharaka REIT posts SAR 30.3M FFO, SAR 14.8M net profit in H1 2021

Musharaka REIT posts SAR 30.3M FFO, SAR 14.8M 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.

 

Funds from operations (FFO) reached SAR 30.3 million during the six-month period, compared to SAR 34.7 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 -
Earnings Per Share before unusual items (Riyals) 0.26 0.17 (35.9 %)
Operating EPS (Riyals) 0.39 0.34 (12.5 %)
EPS (Riyals) 0.26 0.17 (35.9 %)

The profit drop was driven by a 12% fall in rental revenue, and an asset impairment of SAR 4.7 million, despite lower operating expenses.



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.

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.