May 15, 2026
Sagicor Real Estate X Fund LTD (XFUND)
Unaudited financials for the first quarter ended March 31, 2026:
Sagicor Real Estate X Fund LTD (XFUND) for the first quarter ended March 31, 2026 reported a 3% decrease in total revenue totaling $2.37 billion compared to $2.45 billion in the corresponding three months last year.
Net capital losses on financial assets and liabilities amounted to $28.98 million (2025: net capital gains on financial assets of $67.49 million), this represents a decline of 143% year over year. Additionally, hotel revenue increased by 2% to $2.30 billion compared to $2.24 billion for the first quarter ended March 31, 2025. Interest income declined by 30% amounting to $82.04 million (2025: $116.83 million) while Net investment property income increased by 42% amounted to $22.85 million (2025: $16.12 million).
Hotel Expenses decreased by 5% from $1.54 billion in 2025 to $1.46 billion for the three months, while depreciation expense decreased by 5% to close at $155.22 million (2025: $163.11 million). Additionally, Interest and other financing costs amounted to $50.21 million (2025: $84.43 million), while Other operating expenses for the first quarter amounted to $132.37 million, a 26% increase relative to $104.93 million reported in 2025.
As a result, Total expenses for the three months amounted to $1.80 billion, a 5% decrease compared to $1.89 billion reported in 2025. Profit before taxation totalled $572.55 million, a 4% increase from the corresponding period last year (2025: $552.62 million).
The tax charge incurred for the first quarter ended March 31, 2026, amounted to $181.08 million, a 21% increase relative to $150.20 million reported in 2025.
As a result, Net Profit for the three months had a 3% decrease to reach $391.47 million (2025: $402.42 million). Total other comprehensive loss, net of taxes amounted to $123.76 million (2025: gain of $195.67 million). Consequently, Total comprehensive income decreased by 55% amounting to $267.71 million (2025: $598.09 million).
Consequently, Earnings Per Share for the three months amounted to $0.17 (2025: EPS: $0.18). The twelve-month trailing EPS was $0.44, and the number of shares used in these calculations was 2,243,005,125. Notably, XFUND’s stock price closed the trading period on May 14, 2026, at a price of $9.91 with a corresponding P/E ratio of 22.29x.
Balance Sheet Highlights
The company’s assets totaled $30.48 billion (2025: $32.97 billion). The decrease in total assets was primarily attributable to a decline in ‘Financial investments’ amounting to $1.62 billion (2025: $6.76 billion), partly offset by a 4% increase in ‘Property, Plant & Equipment’ amounting to $18.70 billion (2025: $18.03 billion).
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