Halmont Properties Corporation: Third Quarter Results
29 November 2018 - 3:53AM
HALMONT PROPERTIES CORPORATION (TSX-V: HMT)
announced today that net income to common shareholders for the nine
months ended September 30, 2018 was $1,685,000 as compared to net
income of $1,266,000 for the nine months ended September 30, 2017.
|
Nine months ended |
|
(in
millions) |
September 30, 2018 |
|
September 30, 2017 |
|
|
|
|
|
|
Revenue |
$ |
5,067 |
|
$ |
3,969 |
|
|
|
|
|
|
Net
income - total |
|
2,080 |
|
|
1,590 |
|
- for common shareholders |
|
1,685 |
|
|
1,266 |
|
|
|
|
|
|
Net income per share for common shareholders |
|
1.62 |
¢ |
|
1.63 |
¢ |
During the quarter, Halmont acquired a $14
million participating mortgage maturing June 2021.
In addition, approval was given for issuance of
$25 million Senior Subordinated Debentures and $10 million Class B
non-voting common shares to refinance the Company’s recent
investment initiatives and strengthen its capital structure for
growth.
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 third quarter, was 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.
Fitzpatrick
President
Halmont Properties Corporation51 Yonge Street,
Suite 400Toronto, ON M5E 1J1Telephone: 647-448-7147
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