May 17, 2023
Sagicor Real Estate XFUND Limited (XFUND), for the three months ended March 31, 2023, reported total revenue of $2.09 billion relative to $1.79 billion reported in 2022, a 17% increase year over year. XFUND stated, “The upturn in worldwide travel, for both business and leisure contributed to a $328.43 million increase in Hotel revenues, 19% above Q1 2022.”
Hotel revenue for the three months period increased to $2.04 billion versus the $1.72 billion reported in 2022.
Operating expenses rose by 19% to $1.86 billion (2022: $1.56 billion).
XFUND reported profit before tax of $227.30 million relative to a profit of $225.49 million for the three months prior. After paying taxes of $88.52 million (Q1 2022: $43.87 million), XFUND reported a net profit of $138.79 million compared to a net profit of $181.61 million in Q1 2022.
Net Profit attributable to shareholders for the three months amounted to $138.79 million vs a profit of $181.61 million in Q1 2022.
XFUND closed their first quarter with an EPS of $0.06. In Q1 of 2022, XFUND reported a earnings per share (EPS) of $0.08. The trailing twelve-month EPS is $0.19 and the number of shares used in our calculations was 2,243,005,125. As at May 16, 2023, the stock traded at $8.58 with a P/E of 45.49x.
Balance Sheet Highlights:
The Company, as at March 31, 2023, recorded total assets of $28.95 billion, a 8% decrease when compared to $31.58 billion reported in Q1 2022. The decrease was primarily due to a lack of Financial investments recorded on the balance sheet, which closed the period at nil (2022: $6.12 billion).
Total Shareholders’ Equity as at March 31, 2023 closed at $19.20 billion, a 15% increase from the $16.73 billion reported for the corresponding period last year; resulting in a book value per share of approximately $8.56 (2022: $7.46).
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