Riyad REIT’s net profit more than doubled year-on-year (YoY) to SAR 20 million for the fiscal year 2017, driven by higher occupancy rates in the properties acquired by the fund in 2016.
Riyad REIT’s full-year revenue fully reflects the operating income of assets acquired in 2016, with part of the operating income of assets acquired in 2017, namely The Residence in the Hiteen district and a Vivienda-branded hotel, Riyad Capital, the fund manager, said in a statement to Tadawul on Thursday.
The fund expects to complete Ascott Al Khobar Corniche project by the end of this year. The new property is likely to boost the REIT’s income going forward, the statement added.
|
Income Statement |
|||
|
Period |
2016 |
2017 |
Variation |
|
Net profit (SAR mln) |
20,066,427 |
9,887,199 |
102.95 |
|
EPS (SAR/ share) |
0.4 |
0.2 |
-- |
|
Gross profit |
38,521,974 |
23,668,833 |
62.75 |
|
Operating profit |
28,409,516 |
15,063,079 |
88.6 |
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}