August 12, 2026
Sagicor Real Estate X Fund Limited (XFUND)
Unaudited financials for the six months ended June 30, 2026:
Sagicor Real Estate X Fund Limited (XFUND) for the six months ended June 30, 2026, reported a 13% decrease in Total Revenue, totaling $4.31 billion, compared to $4.97 billion in the corresponding period last year. Total Revenue for the second quarter had a 23% decrease to close at $1.94 billion compared to $2.52 billion for the comparable quarter of 2025.
Net capital losses on financial assets and liabilities amounted to $68.95 million (2025: gains of $310.12 million), a reversal from the prior-year position. Hotel revenue decreased by 4% to $4.17 billion compared to $4.34 billion for the six months ended June 30, 2025. The company booked hotel revenue of $1.87 billion for the second quarter, versus $2.10 billion reported for the similar quarter of 2025.
Depreciation decreased by 1% to close at $310.59 million (2025: $315.19 million), while Hotel Expenses decreased by 8% from $3.09 billion in 2025 to $2.85 billion in the period under review. Other operating expenses for the six months ended June 30, 2026, amounted to $273.86 million, a 13% increase relative to $243.17 million reported in 2025, while interest and other financing costs fell 41% to $100.83 million (2025: $170.34 million) on debt repayments.
Operating Expenses for the six months ended June 30, 2026, amounted to $3.53 billion, an 8% decrease relative to $3.82 billion reported in 2025. Operating Expenses for the second quarter amounted to $1.73 billion (2025: $1.93 billion). Profit before taxation totalled $778.39 million, a 32% decrease from the corresponding period last year (2025: $1.14 billion).
Taxation for the six months ended June 30, 2026, amounted to $210.36 million, a 19% decrease relative to $260.97 million reported in 2025. Taxation for the second quarter amounted to $29.28 million (2025: $110.77 million).
As a result, Net Profit for the six months ended June 30, 2026, decreased 36%, reaching $568.03 million (2025: $882.72 million).
Consequently, Earnings Per Share for the six months amounted to $0.25 (2025: EPS: $0.39), while Earnings Per Share for the quarter totaled $0.08 (2025: EPS: $0.21). The twelve-month trailing EPS was $0.31, and the number of shares used in these calculations was 2,243,005,125.
Notably, XFUND’s stock price closed the trading period on August 12, 2026, at a price of $7.68 with a corresponding P/E ratio of 24.84x.
Balance Sheet Highlights
The company’s assets totalled $30.44 billion (2025: $33.59 billion). The year-over-year contraction in the asset base was primarily driven by a 76% decline in Cash Resources to $650.00 million (2025: $2.73 billion) and a 60% decline in Financial investments to $1.52 billion (2025: $3.85 billion); these were partly offset by a 66% increase in Receivables to $1.43 billion (2025: $860.43 million) and a 2% uptick in Property, Plant and Equipment, ending the quarter at $18.76 billion (2025: $18.39 billion).
Shareholders’ equity was $23.78 billion (2025: $23.34 billion), representing a book value per share of $10.60 (2025: $10.41).
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