VANCOUVER, BC, April 26,
2023 /CNW/ - Wall Financial Corporation (the
"Company") released its operating results and financial statements
for the year ended January 31, 2023.
The Company recorded net earnings and comprehensive income
attributable to shareholders of the Company for the year ended
January 31, 2023 of $48,206,620 or $1.49 per share compared to $14,614,710 or $0.45 per share in the prior period. This
increase in net earnings compared to prior year was primarily due
to the sale of an investment property and improved operations at
the Company's hotels.
Revenue and income from the rental apartment operations remain
stable and revenues from the development operations decreased from
the prior year due to the closing of 130 condominium units in the
prior year.
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|
Three months ended
January 31
|
Year ended January
31
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Statements of
Earnings
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2023
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2022
|
2023
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2022
|
|
Total revenue and other
income
|
$
30,920,469
|
$
29,566,882
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$ 144,726,718
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$ 241,546,354
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Net earnings
attributable to shareholders of the Company
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1,659,786
|
729,736
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48,206,620
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14,614,710
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|
Earnings per share
(diluted and non-diluted)
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0.05
|
0.03
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1.49
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0.45
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|
|
|
|
|
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Statements of
Financial Position
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|
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January 31,
2023
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January 31,
2022
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Total assets
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|
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$ 874,728,957
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$ 874,063,426
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Total non-current
liabilities
|
|
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351,635,100
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277,821,380
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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, 2023 and 2022.
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