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Published Nov 29, 2024 • 2 infinitesimal read
TORONTO, Nov. 29, 2024 (GLOBE NEWSWIRE) — HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” oregon the “Company”) announced contiguous that nett income to shareholders for the 9 months ended September 30, 2024, was $10,346,000 arsenic compared to nett income of $7,873,000 for the 9 months ended September 30, 2023.
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| (thousands, but per stock amount) | Nine months ended | ||||||
| September 30, 2024 | September 30, 2023 | ||||||
| Revenue | $20,959 | $12,990 | |||||
| Net income | – total | 10,346 | 7,873 | ||||
| – for communal shareholders | 9,338 | 6,667 | |||||
| Net income per stock for communal shareholders | 6.61 | ¢ | 4.46 | ¢ | |||
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In effect to the deterioration successful lease rates for practice bureau buildings, proactive measures were taken successful caller years to accommodate to the evolving marketplace realities. In February 2024, we completed the merchantability of our remaining practice bureau building. The proceeds from this sale, unneurotic with the funds antecedently received from the earlier merchantability of 3 different buildings, are expected to beryllium reinvested successful institutionally occupied buildings and wood properties.
In April 2024, we completed the acquisition of a 50% equity involvement successful 25 Dockside Drive, Toronto, successful concern with George Brown College. Situated adjacent to the College’s 2 different premier waterfront buildings, this acquisition efficaciously doubles the size of its waterfront campus.
As astatine September 30, 2024, the afloat diluted publication worth of the Company’s communal shares, assuming the conversion of its superior notes and convertible preferred shares, accrued by 13% to 85¢ per communal stock compared to 75¢ successful September 2023.
Halmont Properties Corporation invests straight successful existent assets including commercial, forest, and residential properties.
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This quality merchandise includes definite forward-looking statements including management’s appraisal of the Company’s aboriginal plans and operations based connected existent views and expectations. All statements different than statements of historical facts are guardant looking statements. These statements incorporate important known and chartless risks and uncertainties, immoderate of which are beyond the Company’s control. The Company’s existent results, show oregon accomplishment could disagree materially from those expressed in, oregon implied by, these forward-looking statements. Readers should not spot undue reliance connected these forward-looking statements which correspond estimates and assumptions lone arsenic of the day connected which specified statements are made. The Company undertakes nary work to publically revise oregon update immoderate forward-looking statements, whether arsenic a effect of caller information, aboriginal events oregon otherwise.
For further information:
Heather M. Fitzpatrick
President
T: 647-448-7147
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