August 18, 2025
Sagicor Real Estate X Fund LTD(XFUND)
Unaudited financials for the six months ended June 30, 2025:
Sagicor Real Estate X Fund LTD (XFUND) for the six months ended June 30, 2025, reported a 14% increase in Total Revenue, totaling $4.97 billion, compared to $4.34 billion in the corresponding period last year. Total Revenue for the second quarter had a 19% increase to close at $2.52 billion compared to $2.12 billion for the comparable quarter of 2024.
Net capital gains on financial assets and liabilities amounted to $310.12 million (2024: losses of $47.79 million), which represents an increase of 749% year over year. Consequently, hotel revenue increased by 5% to $4.34 billion compared to $4.13 billion for the six months ended June 30, 2024. The company booked hotel revenue of $2.10 billion for the second quarter, versus $1.94 billion reported for the similar quarter of 2024.
Depreciation decreased by a substantial 30% to close at $315.19 million (2024: $449.01 million), while Hotel Expenses increased by 5% from $2.96 billion in 2024 to $3.09 billion in the period under review. As a result, other operating expenses for the six months ended June 30, 2025, amounted to $243.17 million, a 1% increase relative to $239.71 million reported in 2024.
Operating Expenses for the six months ended June 30, 2025, amounted to $3.823 billion, a marginal increase relative to $3.818 billion reported in 2024. Operating Expenses for the second quarter amounted to $1.93 billion (2024: $1.85 billion). Profit before taxation totalled $1.14 billion, a 118% increase from the corresponding period last year. (2024: $523.74 million).
Taxation for the six months ended June 30, 2025, amounted to $260.97 million, a 16% increase relative to $225.29 million reported in 2024. Taxation for the second quarter amounted to $110.77 million (2024: $98.29 million).
Net Profit from continuing operations for the six months ended June 30, 2025, saw a substantial 196% increase, reaching $882.72 million (2024: $298.45 million).
Consequently, Earnings Per Share for the six months amounted to $0.39 (2024: EPS: $0.13), while Earnings Per Share for the quarter totaled $0.21 (2024: EPS: $0.08). The twelve-month trailing EPS was $0.46, 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, 2025, at a price of $7.70 with a corresponding P/E ratio of 16.59x.
Balance Sheet Highlights
The company’s assets totalled $33.59 billion (2024: $31.38 billion). The company’s overall asset growth was primarily driven by a year-over-year (YoY) increase in Financial Investments, reaching $3.85 billion (2024: $3.26 billion). Additional contributors included a YoY rise in Cash Resources to $2.73 billion (2024: $2.14 billion), and a YoY uptick in Property, Plant and Equipment, ending the quarter at $18.39 billion (2024: $16.96 billion).
Shareholders’ equity was $23.34 billion (2024: $21.24 billion), representing a book value per share of $10.41 (2024: $9.47).
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