WOODBRIDGE, ON, May 8, 2017 /CNW/ – Consolidated HCI Holdings Corporation today announced its fiscal 2017 second quarter results.
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3 months ended March 31 |
6 months ended March 31 |
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2017 |
2016 |
2017 |
2016 |
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($000’s except earnings per share) |
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Revenue |
$365 |
$275 |
$679 |
$575 |
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Net earnings (loss) for the period |
$(368) |
$ 256 |
$476 |
$242 |
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Earnings (loss) per share |
$(0.02) |
$0.01 |
$0.02 |
$0.01 |
Net earnings for the first six months of 2017 includes fair value gains on the Company’s investment properties of $909.
Net earnings for the first six months of 2016 includes fair value gains on the Company’s investment properties of $381.
On March 24, 2017, the Company announced that it had accepted an offer to sell its 50% interest in each of its two remaining investment properties to a company controlled by insiders of the Company with a scheduled closing of June 30, 2017. The purchase price for the sale is $14,250, to be satisfied by the assumption by the buyer of the Company’s 50% of the mortgage obligation in respect of the properties, estimated to be $2,700 at closing, and the balance in cash. On April 28, 2017, the Company announced that, at special meeting of shareholders held that day, a special resolution approving the sale was passed.
Consolidated HCI Holdings Corporation is an Ontario-based real estate and development company that trades on The Toronto Stock Exchange under the symbol “CXA.B”
SOURCE Consolidated HCI Holdings Corporation
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