Riyad REIT posts SAR 35 mln FFO, SAR 24 mln net profit in H1 2020
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Riyad REIT Fund posted a net profit of SAR 23.9 million (SAR 0.14 per unit) for the first half of 2020, down 29% year-on-year (YoY) compared to SAR 33.64 million for the same period last year, according to a bourse filing by Riyad Capital, the fund manager, on Tuesday.
Funds from operations (FFO) reached SAR 35.15 million during the six-month period, compared to SAR 41.22 million in the year-earlier period.
Funds from Operations(FFO)
No of shares
Operating EPS (Riyals)
The decline in net profit was mainly attributed to lower revenue and higher depreciation of operating investments.
Net asset value (NAV) stood at SAR 1.605 billion, while the NAV per unit reached SAR 9.35 as of June 30, 2020.
The market value of assets reached SAR 1.67 billion in H1 2020, while the per unit market value stood at SAR 9.73.