Mr. Bruno Wall reports

WALL FINANCIAL CORPORATION ANNOUNCES Q4 2024 FISCAL RESULTS

Wall Financial Corp. has released its operating results and financial statements for the three months and year ended Jan. 31, 2024. The company recorded net earnings and comprehensive income attributable to shareholders of the company for the year ended Jan. 31, 2024, of $22,233,339 or 69 cents per share compared with $48,206,620 or $1.49 per share in the prior period. This decrease in net earnings compared with the prior year was primarily due to a gain on the sale of an investment property in the prior year of $30,340,556 offset by an overall increase in earnings from operations in the current year.

Revenue and income from the rental apartment operations increased due to acquisitions of investment properties in the prior year, a decrease in vacancy rates and increased rents on tenant turnover. Revenues and earnings from the company's hotels increased due to higher occupancy and average daily rates. Revenues from the company's development operations decreased due to fewer condominium sales.

The unaudited financial information, including comparative information, has been prepared in accordance with international financial reporting standards, using the same accounting policies and methods of application as described in notes 2 and 3 of the company's audited consolidated financial statements for the years ended Jan. 31, 2024, and 2023.

Wall Financial is a British Columbia-based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties.