Al Ahli REIT (1) reports net profit of SAR 59.8 mln in 2019

01/01/2020 Argaam

 

Al Ahli REIT (1) Fund reported a net profit of SAR 59.79 million for the fiscal year of 2019 (SAR 0.43 per share) up from a net profit of SAR 66.66 million for the period from December 25, 2017 until December 31, 2018.

 

The net book value of assets as of December 31, 2019 was SAR 1.367 billion compared to SAR 1.396 billion a year before.

 

Direct expenses reached SAR 64.44 million in 2019 with SAR 18.1 million in depreciation expenses.

 

The net book value per unit stood at SAR 9.94.

 

Income Statement

Period

From Dec. 25, 2017 to Dec. 31, 2019

2019

Gross sales (SAR mln)

148.33

144.40

Gross income (SAR mln)

83.99

79.96

Net operating income

 (SAR mln)

65.87

62.66

Net profit (SAR mln)

66.66

59.79

Number of units

(mln units)

137.50

137.50

Earnings per unit (SAR/unit)

0.48

0.43

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