[ad_1]
Sagicor Real Estate X Fund said its profit fell at the end of the second quarter.
The fund made $169 million after paying tax obligations in the April-June period, down from $282 million in the same period last year.
This brings Sagicor Real Estate X Funds’ mid-year profit to $298 billion from $421 million in the six months to June last year.
The lower returns are related to the current economic environment, which has impacted the value of the portfolio.
Profit performance declined as revenues fell to J$2.1 billion in the second quarter, resulting in revenues of J$4.3 billion for the first half of the year.
This result was related to a decrease in hotel revenue, which was offset by an increase in investment income.
[ad_2]
Source link
