Al Maather REIT Fund reported a net profit of SAR 11.3 million (SAR 0.18/unit) for the first six months of 2021, surging from SAR 3.9 million in the similar period last year, fund manager Osool & Bakheet Investment Co. said in a bourse statement.
Funds from operations (FFO) stood at SAR 18.5 million in H1 2021, an 81.3% hike from SAR 10.2 million in H1 2020.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Rental Income | 26.78 | 24.95 | (6.8 %) |
| Funds from Operations(FFO) | 10.16 | 18.49 | 81.9 % |
| Net Income | 3.90 | 11.28 | 189.6 % |
| No of shares | 61.37 | 61.37 | - |
| Operating EPS (Riyals) | 0.17 | 0.30 | 81.9 % |
| EPS (Riyals) | 0.06 | 0.18 | 189.6 % |
The increase in profit is attributed to lower fund management fees, and Zakat and other expenses.
| Item | 6m 2020 | 6m 2021 | Change |
|---|---|---|---|
| Total Assets | 639.92 | 661.16 | 3.3 % |
| Total Debt | 60.47 | 100.46 | 66.1 % |
| Net assets attributable to the Unitholders Item | 560.67 | 536.75 | (4.3 %) |
| Market value of net assets | 578.45 | 593.93 | 2.7 % |
Net asset value (NAV) stood at SAR 536.7 million and net book value stood at SAR 8.75 by the end of June 30, 2021.
The market value of assets stood at SAR 593.93 million in H1 2021, with market value per unit as fair value at SAR 9.68.
Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.
Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}