Sagicor X Fund posts $402 million net profit for first quarter of 2025

 

Sagicor Real Estate X Fund is reporting net profit of $402 million for the first quarter of 2025.

 

That's a 212% increase or roughly $273 million more than the similar period last year.

 

The company's first quarter earnings are now almost equal to its entire 2024 full-year profits. 

 

The standout performer was the group's hospitality segment, led by its DoubleTree Orlando hotel. 

 

Despite challenges in the US tourism sector, the hotel recorded net profit of $318 million, a solid 33% gain year-on-year. 

 

X Fund also benefitted from favourable foreign exchange movements during the quarter.

 

"Our Q1 results are not just record-breaking. They are redefining what is possible for us. The group's performance this quarter reflects the alignment of a favourable macroeconomic climate with the disciplined execution of our strategy. We have remained focused on value creation and this quarter's results are a clear indication that our approach is working and it's positioning us to deliver sustainable growth for our stakeholders," said Chairman of Sagicor Real Estate X Fund, Howard Mitchell. 

 

Meanwhile, its commercial operations posted a profit of nearly $12 million, up from $4.4 million in March last year thanks to higher rental income from its investment properties.

 

Sagicor X Fund says its performance reflects strength across core areas and improving market conditions.