TORONTO, Aug. 29, 2018 (GLOBE NEWSWIRE) — HALMONT PROPERTIES CORPORATION (TSX-V: HMT) announced today that net income to common shareholders for the six months ended June 30, 2018 was $944,000 as compared to net income of $795,000 for the six months ended June 30, 2017.
|Six months ended|
|(in millions)||June 30, 2018||June 30, 2017|
|Revenue||$ 3,221||$ 2,472|
|Net income – total||1,201||1,011|
|– for common shareholders||944||795|
|Net income per share for common shareholders||0.91||¢||0.96||¢|
During the quarter, Halmont purchased a leasehold interest in a downtown commercial office building located at 221 Yonge Street in Toronto, Ontario for $5.5 million.
Subsequent to June 30, 2018, Halmont acquired a $14 million participating mortgage maturing July 2021.
At the Companyâs June 27, 2018 shareholder meeting, shareholders approved a proposed consolidation of the Companyâs outstanding Class A and Class B common shares on a one-for-five basis. Since this would result in our board lots falling below those required by the Toronto Venture Exchange, the implementation of the share consolidation is being deferred until a broader distribution is achieved.
The book value of each common share, based on the Companyâs December 31, 2017 IFRS appraisals and including the net income earned in the second quarter, was 48¢ per share as at June 30, 2018.
Halmont Properties Corporation invests directly in real estate and securities of companies holding property, energy and infrastructure assets.
For additional information:
Heather M. Fitzpatrick
Halmont Properties Corporation
51 Yonge Street, Suite 400
Toronto, ON M5E 1J1