Madison Pacific Properties Inc. Announces First Quarter Results
May 10 2012 - 6:39PM
Marketwired
Madison Pacific Properties Inc. (TSX:MPC)(TSX:MPC.C) (the Company),
a Vancouver-based real estate company, announces the results of
operations for the three months ended March 31, 2012.
The Company is reporting net income attributable to shareholders
of the Company of $5.7 million for the period (2011: $2.7 million);
cash flows from operating activities, before changes in non-cash
operating balances, of $1.8 million (2011: $1.4 million); and
income per share of $0.10 (2011: $0.05).
The net income for 2012 includes a pre-tax gain on fair value
adjustment on investment property of $5.0 million (2011: $1.7
million).
The Company owns over $285 million in investment properties
comprising of 1.63 million rentable sq. ft. of industrial and
commercial space. As at March 31, 2012 over 99% of the available
space, excluding property that was under development was
leased.
For a review of the risks and uncertainties to which the Company
is subject see the December 31, 2011 annual MD&A.
Contacts: Madison Pacific Properties Inc. Mr. Alan Firth
President & CEO (604) 732-6540 (604) 732-6550 (FAX) Madison
Pacific Properties Inc. Mr. Bill Ramsey Investor Information (604)
732-6540
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