AlAhli REIT Fund (1) posts SAR 29.7 mln FFO, SAR 1.6 mln net profit in H1 2020

19/08/2020 Argaam Exclusive

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AlAhli REIT Fund (1) reported a net profit of SAR 1.6 million (SAR 0.01/unit) during the first half of 2020, compared to SAR 30.7 million in the year-earlier period, NCB Capital, fund manager, said in a bourse filing on Wednesday.

Funds from operations (FFO) stood at SAR 29.7 million in H1 2020, compared to SAR 40.9 million in the same period last year.

Financials (M)

Item	6m 2019	6m 2020	Change‬
Rental Income	70.41	63.07	(10.4 %)
Funds from Operations(FFO)	40.85	29.69	(27.3 %)
Net Income	30.74	1.62	(94.7 %)
No of shares	137.50	137.50	-
Operating EPS (Riyals)	0.30	0.22	(27.3 %)
EPS (Riyals)	0.22	0.01	(94.7 %)

Balance Sheet (Million)

Item	6m 2019	6m 2020	Change‬
Total Assets	1,430.55	1,905.15	33.2 %
Total Debt	-	501.63	-
Net assets attributable to the Unitholders Item	1,383.02	1,324.56	(4.2 %)
Market value of net assets	1,379.00	1,318.00	(4.4 %)

Net asset value (NAV) stood at SAR 1.32 billion, while the NAV per unit reached SAR 9.63 during the six months.

The number of issued units totaled 137.5 million, with a yield of 0.12%.

Total expenses and fees for the period stood at SAR 61.7 million.

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