Swicorp Wabel REIT Fund posted net losses of SAR 138.11 million in H1 2020, compared to net earnings of SAR 30.73 million in year-earlier period, according to a bourse statement.

 

Funds from operations (FFO) reached SAR 18.53 million during the six-month period, down by 49% year-on-year (YoY).

 

Income Statement (SAR mln)
 

H1 2019

H1 2020

Change (%)

Rental Income*

52.09

33.10

36

Funds from operations (FFO)

36.29

18.53

49

Net profit

30.73

(138.11)

--

Number of units (mln)

118.00

118.00

--

Operating profit per unit (SAR)

0.31

0.16

49

Earnings per unit (SAR)

0.26

(1.17)

--

* Includes revenue of advertising and media contracts worth SAR 6 million for every period

 

These losses were mainly attributed to allocating asset impairment provisions at SAR 143.12 million, compared to written back impairment provisions at SAR 12.56 million in year-earlier period.

 

The fund’s financial results implied operating expenses of SAR 11.55 million and SAR 18.04 million in amortization fees.

 

Balance Sheet (SAR mln)
 

H1 2019

H1 2020

Change (%)

Assets

1151.88

1012.01

12

Liabilities

31.65

51.35

62

Net assets attributed to unit holders

1120.24

960.66

14

NAV per unit

9.49

8.14

14

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.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request