Sagicor Real Estate X Fund Limited credits its half-year financial performance for 2025 to resilience, having increased profits by 196 per cent despite a slowdown in travel from the United States of America.

For the six months ending June 30, 2025, the group generated net profit attributable to stockholders of $882.72 million or $584.27 million more than the same period last year.

Sagicor Real Estate X Fund also boasted that the “standout” half-year net profit surpassed 2024 full-year earnings by 93 per cent, “underscoring sustained momentum across its operations for this fiscal year”.

The increase in profits comes against a backdrop of a 14.5 per cent increase in total revenues for the six months amounting to $4.97 billion, led by growth in hotel, rental, and investment income. At the same time, operating expenses increased by one per cent.

The managers of the fund noted that, “The results came despite a decline in travel to the US and reflect the Group’s focus on strategic execution, cost discipline, and income diversification.”

Earnings per share tripled to $0.39, up from $0.13 for the same period in 2024. X Fund’s share price also closed the second quarter at $7.17, with a market capitalisation of $16.08 billion.

Commenting on the performance, chairman of Sagicor Real Estate X Fund Limited Howard Mitchell, says, “The results reflect a continuation of the trend set in the first quarter, with strategic business decisions bearing fruit.

Total assets rose to J$33.59 billion, and stockholders’ equity stood at $23.34 billion.

The fund’s cash position improved by 19 per cent to reach $8.01 billion.

Among the highlights in it is segmented reported, the X Fund noted that increased guest spend contributed to a higher net profit at its Double Tree Orlando property. In the Cayman Islands, there was an improvement in rental income for The Strand.

“Despite headwinds, our January to June results affirm our resilience and strategic foresight. We are committed to delivering value for our stakeholders, with a steady eye on growth, diversification, and long-term profitability,” Mitchell shared.