Riyad REIT reported a net profit of SAR 64.2 million for fiscal year 2018, fund manager Riyad Capital said in a bourse statement on Sunday.

 

Net asset value (NAV) – based on fair value – reached around SAR 1.7 billion, or SAR 9.94 per unit, with the number of total units amounting to 171.7 million units.

 

The net yield for the period was 5.72 percent.

 

Funds from operations amounted to SAR 77.2 million.

 

Expenses and fees stood at SAR 15.29 million, while the general and administrative expenses reached SAR 28.27 million.

 

Depreciation expenses amounted to SAR 13.03 million in 2018 versus SAR 4.34 million a year earlier.

 

Financial statement

Period

2017

2018

Change%

Rental revenue (SAR mln)

38.40

149.11

288.3%

Total revenue (SAR mln)

38.52

149.11

         287.1%

FFO (SAR mln)

28.29

76.43

170.2 %

Net profit (SAR mln)

20.07

64.18

219.8%

Units in issue (mln)

50.00

171.70

--

Profit per unit (SAR)

0.40

0.37

--

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