Sagicor Xfund’s numbers have improved quite significantly since last year. In 2021 cumulatively over the first three quarters, they saw a net loss attributable to stockholders at J$65.43 million. In 2022 during the same period, they reported net profits of J$211.60 million.
Analysts are claiming that this year’s turnaround in fortune is largely attributable to the increase in businesses of the various hotels Sagicor XFund has in their portfolio.
Despite the performance, hotel expenses rose by 59 percent to a figure of J$1.40 billion. Positively, hotel margins improved and rose from 21 percent to 27 percent, this helped to alleviate some of the pressure the various expenses might have had on the outlook.
Occupancy levels increased alongside hotel bookings, as result they saw a 71 percent increase in hotel revenues over 2021 with a figure of J$2.16 billion.
XFund’s share price ended the September quarter at J$8.20 and a market capitalization of J$18.39 billion. For the overall Group, they noticed a 32 percent year-over-year growth in total revenues ending the period with J$5.17 billion.
