Anzeige
Mehr »
Login
Freitag, 29.03.2024 Börsentäglich über 12.000 News von 687 internationalen Medien
Spezial am Donnerstag: Rallye II. - Neuer Anstoß, News und was die Börsencommunity jetzt nicht verpassen will…
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche
Marketwired
207 Leser
Artikel bewerten:
(0)

The Becker Milk Company Limited: Six Month Financial Results

TORONTO, ONTARIO -- (Marketwired) -- 12/13/17 -- The Becker Milk Company Limited (the "Company") (TSX: BEK.B) is pleased to report the results for the six months ended October 31, 2017.

HIGHLIGHTS

--  Total revenues for the six months ended October 31, 2017 were $1,732,564
    compared to $1,875,441 for the same period in 2016;
--  Net operating income for Q2 fiscal 2018 was $1,457,513 compared to
    $1,604,572 in fiscal 2017;
--  Net income for Q2 fiscal 2018 was $0.43 per share, compared to $0.22 per
    share in fiscal 2017.

FINANCIAL HIGHLIGHTS

Net operating income for the six months ended October 31, 2017 decreased $147,059 compared with the previous year to $1,457,513, as a result of decreased revenue, resulting from vacancies and the sale of properties.

---------------------------------------------------------------------------
                                                     Six months ended
                                                        October 31
                                                        2017           2016
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Property revenue                               $   1,713,025  $   1,864,860
Finance income                                        19,539         10,581
---------------------------------------------------------------------------
Total revenues                                 $   1,732,564  $   1,875,441
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Property revenue                               $   1,713,025  $   1,864,860
Property operating expenses                         (255,512)      (260,288)
---------------------------------------------------------------------------

Net operating income                           $   1,457,513  $   1,604,572
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Adjusted funds from operations                 $     691,180  $     697,205
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Net income attributable to common and special
 shareholders                                  $     774,823  $     400,291
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Average common and special shares outstanding      1,808,360      1,808,360

Income per share                               $        0.43  $        0.22
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Components of the $374,532 decrease in net income for the six months ended October 31, 2017 compared to the six months ended October 31, 2016 are:

Changes in net income - Six months ended October 31, 2017
               compared to six months ended October 31, 2016

---------------------------------------------------------------------------
---------------------------------------------------------------------------
Decrease in net operating income                              $    (147,059)
Increase in fair value adjustment                                   489,670
Decrease in administrative expenses                                 102,958
Increase in recovery of deferred taxes on investment
 properties                                                          14,777
Increase in current taxes                                           (67,866)
Increase in finance income                                            8,958
Increase in loss on disposal                                        (14,318)
Increase in strategic expenses                                      (12,588)
                                                             --------------

Increase in net income                                        $     374,532
                                                             --------------
                                                             --------------

ADJUSTED FUNDS FROM OPERATIONS

For the six months ended October 31, 2017 the Company recorded adjusted funds from operations of $691,180 ($0.38 per share) compared to $697,205 ($0.39 per share) in 2016.

---------------------------------------------------------------------------
                                                     Six months ended
                                                        October 31
                                                        2017           2016
---------------------------------------------------------------------------
---------------------------------------------------------------------------
Funds from operations                          $     703,768  $     744,875
Items not affecting cash:
  Straight line rent                                       -         22,556
  Expenses related to strategic review               (12,588)
  Sustaining capital expenditures                          -        (70,226)
---------------------------------------------------------------------------
Adjusted funds from operations                 $     691,180  $     697,205
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Adjusted funds from operations per share       $        0.38  $        0.39
---------------------------------------------------------------------------
---------------------------------------------------------------------------

STRATEGIC REVIEW

As reported in a press release dated August 6, 2013 the Company retained PricewaterhouseCoopers Real Estate Inc. to explore the possible sale of the Company. Although this arrangement terminated in fiscal 2016, the Company continues to review its strategic alternatives and will update the market as appropriate and as required.

As at October 31, 2017 total legal and engineering costs of $838,403 had been incurred in connection with the potential sale of the Company.

The Company's interim financial statements for the six months ended October 31, 2017, along with the Management's Discussion and Analysis will be filed with SEDAR at www.sedar.com.

Readers are cautioned that although the terms "Net Operating Income", and "Funds From Operations" are commonly used to measure, compare and explain the operating and financial performance of Canadian real estate companies and such terms are defined in the Management's Discussion and Analysis, such terms are not recognized terms under Canadian generally accepted accounting principles. Such terms do not necessarily have a standardized meaning and may not be comparable to similarly titled measures presented by the other publicly traded entities.

For the Board of Directors

G.W.J. Pottow, President

Contacts:
G.W.J. Pottow
President
416-698-2591

Großer Dividenden-Report 2024 von Dr. Dennis Riedl
Der kostenlose Dividenden-Report zeigt ganz genau, wo Sie in diesem Jahr zuschlagen können. Das sind die Favoriten von Börsenprofi Dr. Dennis Riedl
Jetzt hier klicken
© 2017 Marketwired
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.