Halmont Properties Corporation First Quarter Results
June 04 2021 - 4:56PM
HALMONT PROPERTIES CORPORATION (TSX-V: HMT)
announced today that net income to common shareholders for the
three months ended March 31, 2021 was $ 622,000 as compared to net
income of $ 770,000 for the three months ended March 31, 2020.
|
|
Three months ended |
(in millions) |
March 31, 2021 |
|
|
March 31, 2020 |
|
|
|
|
|
|
|
|
|
Revenue |
|
$ 2,153 |
|
|
$ 2,735 |
|
|
|
|
|
|
|
|
|
Net income |
- total |
|
935 |
|
|
1,117 |
|
|
- for common shareholders |
|
622 |
|
|
770 |
|
|
|
|
|
|
|
|
|
Net income per share for common shareholders |
|
0.34 |
¢ |
|
0.65 |
¢ |
The decrease in the Company’s earnings compared
to the same period in 2020 is due principally to the impact of
COVID-19 on our commercial office property portfolio. Our other
business operations have performed well, and we are working to
mitigate issues related to our commercial properties.
The book value of each common share increased to
0.61¢ at March 31, 2021 compared to 0.58¢ at March 31, 2020.
Halmont revalues its principal assets each year in accordance with
IFRS accounting principles, considering available market
information and the relevant terms of its joint-venture and
partnership agreements. As a result, the common share book value
approximates their realizable values.
Halmont Properties Corporation invests directly
in real estate and securities of companies holding property,
energy, and infrastructure.
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. Fitzpatrick Presidentadmin@halmontproperties.com
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