15:55:21 EST Fri 16 Nov 2018
Enter Symbol
or Name
USA
CA



Becker Milk Company Ltd (The)
Symbol C : BEK.B
Shares Issued 1,267,610
Close 2018-07-12 C$ 14.40
Recent Sedar Documents

Becker Milk earns $2.44-million in fiscal 2018

2018-07-12 17:35 ET - News Release

Mr. G.W.J. Pottow reports

2018 ANNUAL FINANCIAL RESULTS AND APPOINTMENT OF DIRECTOR

The Becker Milk Company Ltd. has released the results for the year ended April 30, 2018.

Highlights:

  • Total revenues for the year ended April 30, 2018, were $3,293,197 compared with $3,679,266 for the same period in 2017.
  • Net operating income for the year was $2,702,767 compared with $3,115,911 in 2017.
  • Net income for the year was $1.35 per share, compared with $1.25 per share in 2017.

Financial highlights

Net operating income for the year ended April 30, 2018, decreased $413,144 compared with the previous year to $2,702,767, as a result of decreased revenues.

                                    FINANCIAL HIGHLIGHTS
                                                                                  Year ended April 31,
                                                                              2018                   2017
 
Property revenue                                                        $3,254,846             $3,656,548
Finance income                                                             $38,351                $22,718
Total revenues                                                          $3,293,197             $3,679,266
Property revenue                                                        $3,254,846             $3,656,548
Property operating expenses                                              $(552,079)             $(540,637)
Net operating income                                                    $2,702,767             $3,115,911
Adjusted funds from operations                                          $1,070,295             $1,295,280
Net income attributable to common and special shareholders              $2,447,089             $2,254,903
Income per share                                                             $1.35                  $1.25

Adjusted funds from operations

For the year ended April 30, 2018, the company recorded adjusted funds from operations of $1,070,295 (59 cents per share) compared with $1,295,280 (72 cents per share) in 2017.

Appointment of director

At the meeting on July 10, 2018, Donald Stewart was appointed to the board of directors.

Strategic review

Since 2014, the board of directors has been evaluating strategic directions for the company and has engaged in discussions with potential acquirors. None of those discussions are active at this time. During this period, a program of divesting less desirable sites has resulted in the sale of 14 investment properties. The company continues to review its strategic alternatives and will update the market as appropriate and as required.

The company's annual financial statements for the year ended April 30, 2018, along with the management's discussion and analysis, will be filed with SEDAR.

© 2018 Canjex Publishing Ltd. All rights reserved.