VANCOUVER,
Dec. 12, 2012 /CNW/ - Wall Financial
Corporation (the "Company") released today its operating results
and financial statements for the nine months ended October 31, 2012. The Company recorded net
earnings and comprehensive income attributable to owners of the
Company for the nine months ended October
31, 2012 of $11,096,396 or
$0.34 per share (October 31, 2011 - $26,800,238 or $0.81 per share).
As at October 31,
2012, earnings before interest, income tax, and depreciation
and amortization (EBITDA), and net earnings attributable to
non-controlling interest were $22,311,146 (October 31,
2011 - $79,905,133).
Revenue from hotel operations was $40,767,704 for the nine months ended
October 31, 2012 compared to
$42,240,019 in the same period of the
prior year. This decrease was primarily due to the sale of
the Comfort Inn hotel on May 31,
2011. Rental revenues decreased from $12,027,800 as at October
31, 2011 to $11,108,521 for
the nine months ended October 31,
2012 due to the decrease in the Company's portfolio of
rental properties. Revenue from real estate sales decreased from
$207,047,646 for the nine months
ended October 31, 2011 to
$9,030,490 for the nine months ended
October 31, 2012 as there were no
projects completing in the first 9 months of this year.
|
|
|
October 31, 2012 |
|
|
October 31, 2011
|
Revenue and other income |
|
$ |
66,991,306 |
|
$ |
266,466,469
|
Net earnings and comprehensive
income attributable to
owners of the Company |
|
|
11,096,396 |
|
|
26,800,238
|
Net earnings per share |
|
|
0.34 |
|
|
0.81
|
|
|
|
|
|
|
|
Total assets |
|
$ |
517,309,502 |
|
$ |
408,319,435
|
The above unaudited financial information,
including comparative information, is expressed in Canadian dollars
and has been prepared in accordance with International Financial
Reporting Standards, using the same accounting policies and methods
of application as described in notes 2 and 3 of the Company's
audited consolidated financial statements for the year ended
January 31, 2012.
Wall Financial Corporation is a B.C. based real
estate company active in the development and management of
residential rental apartments, development and construction of
residential housing for resale, and the development and management
of hotel properties.
SOURCE Wall Financial Corporation