Hampton Financial Corporation Announces 2nd Quarter, 2022 and Record Half Year Results
April 28 2022 - 4:47PM
Hampton Financial Corporation (TSXV:HFC &
HFC.PR.A) is pleased to report its financial performance for the
2nd quarter ended February 28th, 2022.
Revenues
for the quarter were $3,638,000 vs $4,580,000 in the 2nd quarter of
last year; a decrease of 20.6%.
Net Income for the
period was $187,000 or $0.01 per share compared to $594,000 or
$0.02 per share in 2021.
EBITDA for the quarter
was $483,000 vs $895,000 in the same quarter last year; a decrease
of 46.0%. The decrease in the Second quarter results can be
attributed to the timing of certain revenue items that will be
reflected in the 3rd quarter.
For the six-month period ended February 28,
2022, Revenues were a record $9,649,000 vs
$6,973,000; an increase of 38.4%. Net income for
the same period was also a new record at $1,221,000 or $0.04 per
share vs $517,000 or $0.02 per share. EBITDA for
the six-month period was $1,827,000 vs $1,092,000 for the same
period last year; an increase of 67.3%.
“All business lines
continue to show strength as our AUA/AUM continues to grow with the
addition of new advisors and their clients. Earnings at the half
year mark have matched our full-year earnings in 2021 and our
pipeline for new revenues remains strong,” stated Hampton Executive
Chairman & CEO Peter Deeb.
Copies of Hampton’s unaudited interim financial
statements and its Management’s Discussion & Analysis for the
six months ended February 28, 2022 can be accessed on SEDAR at
www.sedar.com.
About Hampton Financial
Corporation
Hampton Financial Corporation is a unique
private equity firm that seeks to build shareholder value through
long-term strategic investments. Through its wholly owned
subsidiary, Hampton Securities Limited (“HSL”),
Hampton is actively engaged in family office, wealth management,
institutional services and capital markets activities. HSL is a
full-service investment dealer, regulated by IIROC and registered
in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia,
Northwest Territories, Ontario and Quebec. In addition, the company
provides investment banking services, which include assisting
companies with raising capital, advising on mergers and
acquisitions, and aiding issuers in obtaining a listing on
recognized securities exchanges in Canada and abroad.
For more information, please contact:
Azmatali MehraliChief Financial OfficerHampton
Financial Corporation(416) 862-8701OrPeter M. DeebExecutive
Chairman & CEOHampton Financial Corporation(416) 862-8651
The TSXV has in no way approved nor
disapproved the contents of this press release. Neither the TSXV
nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy
or accuracy of this press release.
No securities regulatory authority has
either approved or disapproved of the contents of this press
release. This press release does not constitute or form a part of
any offer or solicitation to buy or sell any securities of the
Company.
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