13:43:50 EDT Mon 20 May 2024
Enter Symbol
or Name
USA
CA



Olympia Financial Group Inc
Symbol OLY
Shares Issued 2,406,336
Close 2024-05-09 C$ 110.50
Market Cap C$ 265,900,128
Recent Sedar Documents

Olympia earns $5.74-million in Q1

2024-05-09 19:23 ET - News Release

Mr. Rick Skauge reports

OLYMPIA FINANCIAL GROUP INC. ANNOUNCES FIRST QUARTER 2024 RESULTS

Olympia Financial Group Inc. has released its operating and financial results for the period ended March 31, 2024.

Results from operations for the three months ended March 31, 2024, include the following (compared with operations for the three months ended March 31, 2023):

  • Total net earnings and comprehensive income increased 10 per cent to $5.74-million from $5.23-million.
  • Total revenue increased 9 per cent to $25.84-million from $23.62-million, mainly due to an increase in trust income in the investment account services division.
  • Service revenue increased 3 per cent to $12.25-million from $11.84-million, mainly due to an increase in administration renewal fees related to a growing client base.
  • Trust, interest and other income increased 15 per cent to $13.59-million from $11.78-million, mainly due to higher interest rates on trust fund placements made over the previous 12 months.
  • Direct and administrative expenses (excluding depreciation and amortization) increased 6 per cent to $16.99-million from $16.10-million, mainly due to increased salaries, bonuses and management fees paid within the investment account services division resulting primarily from increased revenues.
  • Basic and diluted earnings per share attributable to shareholders of Olympia increased 10 per cent to $2.39 per share from $2.17 per share.

The unaudited condensed interim financial statements and notes, as well as management's discussion and analysis, are available on SEDAR+. Both historical and current information on Olympia's stock, financials, press releases, governance and more can now be found at the Olympia website.

About Olympia Financial Group Inc.

Olympia conducts most of its operations through its subsidiary Olympia Trust Company, a non-deposit-taking trust company. Olympia Trust is licensed to conduct trust activities in Alberta, British Columbia, Saskatchewan, Manitoba, Quebec, Newfoundland and Labrador, Prince Edward Island, New Brunswick, and Nova Scotia. Olympia Trust administers self-directed registered plan accounts, corporate trus, and transfer agency services. Olympia also provides currency exchange and global payment services through its subsidiary Olympia Currency and Global Payments Inc., and offers private health service plans and information technology services to exempt market dealers, registrants and issuers through its subsidiary Olympia Benefits Inc.

Olympia's common shares are listed on the Toronto Stock Exchange under the symbol OLY.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.