Halmont Properties Corporation Third Quarter Results
November 27 2019 - 4:28PM
HALMONT PROPERTIES CORPORATION (TSX-V: HMT)
announced today that net income to common shareholders for the nine
months ended September 30, 2019 was $3,697,000 as compared to net
income of $1,685,000 for the nine months ended September 30, 2018.
|
Nine months ended |
(in
thousands, except per share amounts) |
September 30, 2019 |
|
September 30, 2018 |
|
|
|
|
|
|
Revenue |
$ |
9,828 |
|
$ |
5,067 |
|
|
|
|
|
|
Net income |
|
|
|
|
|
|
– total |
|
4,138 |
|
|
2,080 |
|
– for common shareholders |
|
3,697 |
|
|
1,685 |
|
|
|
|
|
|
Net income per share for common shareholders |
|
2.98 |
¢ |
|
1.62 |
¢ |
|
|
|
|
|
|
|
During the quarter, Halmont sold a commercial
property located at 220 King Street West for an approximate gain of
$3 million after provisions for taxes and the revaluation of our
adjacent property.
The book value of each common share, based on
the Company’s December 31, 2018 IFRS appraisals and including the
net income earned in the first three quarters, was 53.2¢ per share
as at September 30, 2019 as compared to 49.5¢ per share as at
September 30, 2018.
Halmont Properties Corporation invests directly
in real estate and securities of companies holding property, energy
and infrastructure assets.
This news release
includes certain forward-looking statements including management’s
assessment of the Company’s future plans and operations based on
current views and expectations. All statements other than
statements of historic facts are forward looking statements. These
statements contain substantial known and unknown risks and
uncertainties, some of which are beyond the Company’s control. The
Company’s actual results, performance or achievement could differ
materially from those expressed in, or implied by, these
forward-looking statements. Readers should not place undue reliance
on these forward-looking statements which represent estimates and
assumptions only as of the date on which such statements are made.
The Company undertakes no obligation to publicly revise or update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
For additional information:
Heather M. FitzpatrickPresident 647-448-7147
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