Madison Pacific Properties Inc. (TSX: MPC and MPC.C) Announces First Quarter Results
May 12 2010 - 10:31AM
Marketwired Canada
Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) a Vancouver-based real
estate company announces the results of operations for the 3 months ended March
31, 2010.
For the first quarter 2010 the Company is reporting net income from continuing
operations of $2,205,000 (2009: $2,737,000); cash flow from continuing
operations before changes in non-cash working capital of $1,485,000 (2009:
$1,082,000); and earnings per share from continuing operations of $0.04 (2009:
$0.05).
The decrease in net income is largely due to a non-recurring tax recovery
provision in 2009.
The Company owns over $138 million in real estate assets comprising 1,312,154
rentable sq. ft. of industrial and commercial space of which 99.8% is leased.
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