VANCOUVER, BC, June 14,
2022 /CNW/ - Wall Financial Corporation (the
"Company") released its operating results and financial statements
for the three months ended April 30,
2022. The Company recorded net earnings and
comprehensive income attributable to shareholders of the Company
for the three months ended April 30,
2022 of $29,999,525 or
$0.92 per share compared to
$6,331,468 or $0.19 per share in the prior period. This
increase in net earnings compared to prior period was primarily due
to the sale of an investment property.
Revenue from the Company's hotel operations continue to improve.
Revenue and income from the rental apartment operations remain
stable and revenues from the development operations decreased from
the prior period due to the closing of 81 condominium units in the
prior period.
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Three months ended
April 30
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Statements of
Earnings
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2022
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2021
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Total
revenue and other income
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$
32,908,465
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$
117,277,126
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Net
earnings (loss) attributable to shareholders of the
Company
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29,999,525
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6,331,468
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Earnings
(loss) per share (diluted and non-diluted)
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$
0.92
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$
0.19
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Statements of
Financial Position
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April 30,
2022
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January 31,
2022
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Total
assets
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$
829,942,824
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$
874,063,426
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Total
non-current liabilities
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$
273,495,195
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$
277,821,380
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Dividends
paid
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$
-
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$
-
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Dividends
paid per share
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$
-
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$
-
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The above unaudited financial information, including comparative
information, is expressed in Canadian dollars and has been prepared
in accordance with International Financial Reporting Standards,
using the same accounting policies and methods of application as
described in notes 2 and 3 of the Company's audited consolidated
financial statements for the years ended January 31, 2022 and 2021.
Wall Financial Corporation is a B.C. based real estate company
active in the development and management of residential and
commercial rental units, development and construction of
residential housing for resale, and the development and management
of hotel properties.
SOURCE Wall Financial Corporation
