Hampton Financial Corporation (“Hampton” or the
“Corporation”) (TSXV:HFC & HFC.PR.A) is pleased to report the
release of its unaudited condensed consolidated interim financial
statements for the three and six months ended February 28, 2021.
For the 2nd
Quarter ended February 28, 2021 compared to the same
quarter in 2020;
Revenues reported were
$4,580,000 vs $2,675,000; an increase of 71.2%.
Net Income reported was
$594,000 or $0.02 per share vs $221,000 or $0.01 per share.
EBITDA reported was $1,043,000
vs $593,000.
For the 6 months ended February 28, 2021
compared to the same period in 2020;
Revenues reported were
$6,973,000 vs $5,614,000; an increase of 24.2%.
Net Income reported was
$517,000 or $0.02 per share vs $74,000 or $0.00 per share.
EBITDA reported was $1,331,000
vs $741,000.
These record results were derived from strong
operating performance in each of Hampton’s business lines, and the
realization of long-awaited costs savings resulting from a number
of strategic initiatives.
For the fiscal period ended February 28, 2021 (6
Months), Hampton’s wholly owned subsidiary, Hampton Securities
Limited (“HSL”) participated in a record number of
new issues and secondary offerings, raising $216.4 million for
public and private issuers, compared with $182.3 million in the
first half of 2020; an increase of 18.7%.
During the second quarter of 2021, Hampton has
also launched a major project to enhance its social media program
and initiated an upgrade to its reporting systems which will create
both proprietary advisor and client facing solutions that will set
the firm apart. Hampton continues to develop its senior-advisor,
principal-agent platform which will offer the industry’s most
experienced wealth managers a flexible operating platform that
provides additional operational freedom, financial support and tax
effectiveness as they build and manage their professional
practice.
“In this quarter we achieved record results
since becoming a public company. We want to thank our loyal clients
for their continued support, and our exceptional team for their
dedication and hard work despite the many challenges posed by the
COVID-19 situation. We fully expect to exit this pandemic crisis as
a stronger organization as a result of their efforts,” said Hampton
Executive Chairman & CEO Peter Deeb.
This press release summarizes certain selected
financial data contained in the unaudited condensed consolidated
interim financial statements and Management’s Discussion and
Analysis for the three and six months ended February 28, 2021 and
should not be considered a substitute for reading these full
disclosure documents which are available on SEDAR at
www.sedar.com.
About Hampton Financial
Corporation
Hampton is a unique private equity firm that
seeks to build shareholder value. through long-term strategic
investments. Through HSL, Hampton is actively engaged in family
office, wealth management, institutional services and capital
markets activities. HSL is a full-service investment dealer,
regulated by IIROC and registered in Alberta, British Columbia,
Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario
and Quebec. In addition, HSL provides investment banking services,
which include assisting companies with raising capital, advising on
mergers and acquisitions, and aiding issuers in obtaining a listing
on recognized securities exchanges in Canada and abroad.
For more information, please
contact:
Azmatali MehraliChief
Financial OfficerHampton Financial
Corporation(416) 862-8701
Or
Peter M. DeebExecutive
Chairman & CEOHampton Financial
Corporation(416) 862-8651
The TSX Venture Exchange has in no way
approved nor disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
No securities regulatory authority has
either approved or disapproved of the contents of this press
release. This press release does not constitute or form a part of
any offer or solicitation to buy or sell any securities in the
United States or any other jurisdiction outside of Canada. The
securities being offered have not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or the securities laws of any state of the
United States and may not be offered or sold within the United
States or to a U.S. person absent registration or pursuant to an
available exemption from the registration requirements of the U.S.
Securities Act and applicable state securities laws. There will be
no public offering of securities in the United States.
Forward-Looking Statements
This press release contains certain
forward-looking statements and forward-looking information
(collectively referred to herein as "forward-looking statements")
within the meaning of applicable Canadian securities laws, which
may include, but are not limited to, information and statements
regarding or inferring the future business, operations, financial
performance, prospects, and other plans, intentions, expectations,
estimates, and beliefs of the Corporation. All statements other
than statements of present or historical fact are forward-looking
statements. Forward-looking statements are often, but not always,
identified by the use of words such as "anticipate", "achieve",
"could", "believe", "plan", "intend", "objective", "continuous",
"ongoing", "estimate", "outlook", "expect", "may", "will",
"project", "should" or similar words, including negatives thereof,
suggesting future outcomes.
Forward-looking statements involve and are
subject to assumptions and known and unknown risks, uncertainties,
and other factors beyond the Corporation’s ability to predict or
control which may cause actual events, results, performance, or
achievements of the Corporation to be materially different from
future events, results, performance, and achievements expressed or
implied by forward-looking statements herein. These risks,
uncertainties and other factors include those factors discussed in
greater detail in the section entitled “Risk Factors” in the
Corporation’s Management’s Discussion and Analysis for the three
and six months ended February 28, 2021 (which may be viewed on
SEDAR at www.sedar.com). Furthermore, the Corporation notes that
its business and prospects are subject to added risks associated
with and arising from COVID-19, and the uncertainty of the effects,
duration and severity of the outbreak.
Forward-looking statements are not a guarantee
of future performance. Although the Corporation believes that any
forward-looking statements herein are reasonable, in light of the
use of assumptions and the significant risks and uncertainties
inherent in such statements, there can be no assurance that any
such forward-looking statements will prove to be accurate. Actual
results may vary, and vary materially, from those expressed or
implied by the forward-looking statements herein. Accordingly,
readers are advised to rely on their own evaluation of the risks
and uncertainties inherent in forward-looking statements herein and
should not place undue reliance upon such forward-looking
statements. All forward-looking statements herein are qualified by
this cautionary statement. Any forward-looking statements herein
are made only as of the date hereof, and except as required by
applicable laws, the Corporation assumes no obligation and
disclaims any intention to update or revise any forward-looking
statements herein or to update the reasons that actual events or
results could or do differ from those projected in any
forward-looking statements herein, whether as a result of new
information, future events or results, or otherwise.
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