Sagicor Real Estate X Fund says it made a lower profit at the end of its second quarter.
For the April to June period, the fund made $169 million after meeting tax obligations, down from the $282 million made in the similar period last year.
This brought Sagicor Real Estate X Funds' mid year profit to $298 billion, from $421 million for the six months to June last year.
The lower earnings were linked to the current economic climate, which affected the value of the investment portfolio.
The profit performance trickled down from lower revenue of J$2.1 billion in its second quarter, which brought the first half of the year income to J$4.3 billion in revenue.
The results were linked to reduced hotel revenues, which was countered by higher investment income.
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