Halmont Properties Corporation Second Quarter Results
30 August 2018 - 7:10AM
HALMONT PROPERTIES CORPORATION (TSX-V: HMT)
announced today that net income to common shareholders for the six
months ended June 30, 2018 was $944,000 as compared to net income
of $795,000 for the six months ended June 30, 2017.
|
Six months
ended |
|
(in
millions) |
June 30, 2018 |
|
June 30, 2017 |
|
|
|
|
|
|
Revenue |
$ 3,221 |
|
$ 2,472 |
|
|
|
|
|
|
Net
income
- total |
|
1,201 |
|
|
1,011 |
|
- for common shareholders |
|
944 |
|
|
795 |
|
|
|
|
|
|
Net income per share for common shareholders |
|
0.91 |
¢ |
|
0.96 |
¢ |
During the quarter, Halmont purchased a
leasehold interest in a downtown commercial office building located
at 221 Yonge Street in Toronto, Ontario for $5.5 million.
Subsequent to June 30, 2018, Halmont acquired a
$14 million participating mortgage maturing July 2021.
At the Company’s June 27, 2018 shareholder
meeting, shareholders approved a proposed consolidation of the
Company’s outstanding Class A and Class B common shares on a
one-for-five basis. Since this would result in our board lots
falling below those required by the Toronto Venture Exchange, the
implementation of the share consolidation is being deferred until a
broader distribution is achieved.
The book value of each common share, based on
the Company’s December 31, 2017 IFRS appraisals and including the
net income earned in the second quarter, was 48¢ per share as at
June 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.
Fitzpatrick
President
Halmont Properties Corporation51 Yonge Street,
Suite 400Toronto, ON M5E 1J1Telephone: 647-448-7147
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