PAL reports 82% Increase in Three Months Net Profits Attributable to Stockholders
November 14, 2019 The Palace Amusement Company (1921) Limited (PAL), for the three months ended September 30, 2019, booked a 37% improvement in revenue to $369.99 million (2018: $269.38 million), while direct expenses increased by 41% to $304.90 million (2018: $215.79 million). As a result, gross profit rose by 21% to $65.09 million (2018: $53.59 million). Other operating income declined 52% to $3.34 million (2018: $6.90 million), while administrative expenses decreased by 1% to $49.62 million (2018: $50.11 million). Consequently, operating profit for the period grew to $18.81 million relative to the $10.38 million reported for the corresponding period in
KPREIT reports 241% increase in nine months net profit
Date: November 14, 2019 Kingston Properties Limited (KPREIT) for the nine months ended September 30, 2019, reported rental income of $168.08 million, 10% more than the $152.35 million reported for 2018. However, for the quarter, there was a 23% increase from $44.78 million in 2018 to $55.22 million in 2019. KPREIT mentioned that, “The improvement in rental revenue is attributed to the net addition to the property portfolio following the acquisition of the New Kingston property in October 2018.” Operating expenses decreased by 3% to $97.98 million (2018: $101.29 million). For the quarter, operating expenses closed at $31.93 million versus
XFUND reports 92% decline in nine months net profit
Date: November 13, 2019 Sagicor Real Estate XFUND Limited (XFUND), for the nine months ended September 2019, reported total revenue of $4.76 billion relative to $7.44 billion reported in 2018, a 36% decline year over year. XFUND stated, “This is as a result of the change in the business model, with the sale of the hotels last year where the discontinued operations contributed revenues of $2.7 billion and the gain on the sale of the hotels.” Hotel revenue for the nine months period increased to $4.64 billion relative to $4.20 billion in 2018, an 11% improvement year over year. Net