21:27:46 EST Sat 27 Nov 2021
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Halmont Properties Corp
Symbol HMT
Shares Issued 83,940,000
Close 2021-11-19 C$ 0.70
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Halmont earns $2.87-million in Q3

2021-11-25 01:26 ET - News Release

Ms. Heather Fitzpatrick reports


Halmont Properties Corp.'s net income to common shareholders for the nine months ended Sept. 30, 2021, was $1,887,000 as compared with net income of $2,444,000 for the nine months ended Sept. 30, 2020.

                                 FINANCIAL HIGHLIGHTS

                                                               Nine months ended             
                                                      Sept. 30, 2021         Sept. 30, 2020     
Revenue                                                       $7,078                 $6,765 
Net income 
Total                                                          2,877                  3,417 
For common shareholders                                        1,887                  2,444 
Net income per share for common shareholders              1.52 cents             2.09 cents
                                                        ------------           ------------

The decrease in the company's earnings compared with the same period in 2020 is due principally to the impact of COVID-19 on its commercial office property portfolio. Its other business operations have performed well, and issues relating to its commercial properties have recently been substantially addressed.

The diluted book value of each common share increased to 0.62 cent at Sept. 30, 2021, compared with 0.59 cent at Sept. 30, 2020. Halmont revalues its principal assets each year in accordance with international financial reporting standard accounting principles, considering available market information and the relevant terms of its joint venture and partnership agreements. As a result, the common share book value approximates its realizable values.

Halmont Properties invests directly in real estate, including commercial buildings, forest properties, industrial properties, and securities of companies holding property and infrastructure sectors.

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