Dolmen City REIT Announces Unaudited Consolidated Earnings Results for the Quarter and Six Months Ended December 31, 2018
January 17, 2019
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Dolmen City REIT announced unaudited consolidated earnings results for the quarter and six months ended December 31, 2018. For the quarter, the company's reported rental income was PKR 814,444,000 compared to PKR 747,242,000 for the same period a year ago. Net operating income was PKR 736,992,000 compared to PKR 675,328,000 for the same period a year ago. Profit after taxation for the period was PKR 3,612,277,000 compared to PKR 1,797,155,000 for the same period a year ago. Basic earnings per unit was PKR 1.62 compared to PKR 0.81 for the same period a year ago.
For the six months, the company's reported rental income was PKR 1,613,208,000 compared to PKR 1,498,233,000 for the same period a year ago. Net operating income was PKR 1,472,837,000 compared to PKR 1,347,527,000 for the same period a year ago. Profit after taxation for the period was PKR 4,343,406,000 compared to PKR 2,490,759,000 for the same period a year ago. Basic earnings per unit was PKR 1.95 compared to PKR 1.12 for the same period a year ago.
Dolmen City real estate investment trust (REIT) is a Pakistan-based company, which is a closed-ended, perpetual, shariah-compliant, rental real estate investment trust scheme. The Company offers investors to become unit holders of two components of the Dolmen City project, Dolmen Mall Clifton and The Harbor Front. Dolmen Mall Clifton is a shopping mall in Pakistan, which has a total built-up area of approximately 800,000 square feet spread over three levels. Dolmen Mall Clifton offers various brands, including Mango, Carrefour, Khaadi, Sapphire, Nike, Diesel, Aldo, Charles & Keith. The Dolmen Mall Clifton has approximately 130 retail outlets, a multi-level department store and a food court, which accommodates approximately 1,200 customers. The Harbour Front is an office complex. The Harbour Front offers prime office space across 17 floors, spread approximately 270,000 square feet. The Company is managed by Dolmen Real Estate Management (Private) Limited.