U.S. markets close in 1 hour 36 minutes
  • S&P 500

    4,447.90
    -1.08 (-0.02%)
     
  • Dow 30

    34,756.28
    -8.54 (-0.02%)
     
  • Nasdaq

    15,012.31
    -39.94 (-0.27%)
     
  • Russell 2000

    2,250.01
    -9.03 (-0.40%)
     
  • Crude Oil

    74.04
    +0.74 (+1.01%)
     
  • Gold

    1,747.90
    -1.90 (-0.11%)
     
  • Silver

    22.35
    -0.33 (-1.45%)
     
  • EUR/USD

    1.1718
    -0.0029 (-0.25%)
     
  • 10-Yr Bond

    1.4650
    +0.0550 (+3.90%)
     
  • GBP/USD

    1.3667
    -0.0054 (-0.39%)
     
  • USD/JPY

    110.7620
    +0.4610 (+0.42%)
     
  • BTC-USD

    42,204.14
    -2,362.02 (-5.30%)
     
  • CMC Crypto 200

    1,051.33
    -51.73 (-4.69%)
     
  • FTSE 100

    7,051.48
    -26.87 (-0.38%)
     
  • Nikkei 225

    30,248.81
    +609.41 (+2.06%)
     

Halmont Properties Corporation Second Quarter Results

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.

TORONTO, Aug. 18, 2021 (GLOBE NEWSWIRE) -- HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” or the “Company”) announced today that net income to common shareholders for the six months ended June 30, 2021, was $1,403,000 as compared to net income of $1,624,000 for the six months ended June 30, 2020.

(thousands)

Six months ended

June 30, 2021

June 30, 2020

Revenue

$4,354

$4,577

Net income

- total

2,030

2,283

- for common shareholders

1,403

1,624

Net income per share for common shareholders

1.13

¢

1.39

¢

The decrease in the company’s earnings compared to the same period in 2020 is due principally due to the impacts of COVID-19 on our commercial property portfolio. Our other business operations have preformed well, and we are working to mitigate issue related to our commercial properties.

The book value of each common share increased to 0.61¢ at June 30, 2021 compared to 0.59¢ at June 30, 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 including commercial buildings, forest properties, industrial properties, and securities of companies holding property and infrastructure sectors.

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
647-448-7147