Homburg Canada Real Estate Investment Trust reported its second-quarter results Thursday. "Our net operating income for the quarter greatly benefited from the acquisitions we completed in the first half of the fiscal year," said Jim Beckerleg, president and chief executive officer. "We continue to see interesting growth opportunities in the retail and office segments across Canada and we are confident to deliver on additional accretive acquisitions in the months to come." Highlights included a profit of $24.28-million, a 20.1 per cent increase compared to the $20.22-million recorded for the first-quarter.
Cominar Real Estate Investment Trust said it continued to grow and expand during the second-quarter ended June 30, 2011. Operating revenue totaled $82.1-million, up 13.3 per cent due mainly to the property acquisitions completed in 2010 and 2011 plus the progressive contribution of Complexe Jules-Dallaire. Operating profit grew to $47.1-million, up 12.2 per cent over last year. Profit amounted to $28.2-million, up 7.3 per cent over the second-quarter of 2010. Net income per fully diluted unit was $0.44, a 2.3 per cent increase compared to the same period of 2010. "We are satisfied with our financial performance, which is in line with our growth track record. In addition, we further expanded in the Atlantic Provinces, where we acquired two properties for a $5.2-million investment in the second quarter, and three other acquisitions were completed in July for a $13.2-million investment at an 8.4 per cent average capitalization rate. Furthermore, we maintained our distributions at $0.36 per unit. We remain in a healthy and solid financial position to pursue our business strategy," Michel Dallaire, president and chief executive officer, said in a statement.
Premium Brands Holding Corp. , producer, marketer and distributor of branded specialty food products, edged higher after announcing Thursday that it has signed a definitive agreement to purchase substantially all of the assets and operating divisions of Piller Sausages Delicatessens Limited, manufacturers of specialty European deli meats. The company said the transaction "will create a national deli meats platform that will feature two of Canada's most respected deli brands: Grimm's in the west and Piller's in the east."
Pacific North West Capital Corp. jumped more than 5 per cent early Thursday after announcing significant concentrations of Rhodium Rh in the first eleven holes of Phase IA drill program in the Dana North area of the Company's 100 per cent owned River Valley Platinum Group Metals PGM Project near Sudbury, Ont.
Anvil Mining Limited announced Thursday that, with the support of its major shareholder, Trafigura Beheer B.V., the board of directors has begun a process to review strategic alternatives available to the company. The company cautioned shareholders that there is no assurance that the review will result in any specific transaction and no firm timetable has been set for the completion of this process. Anvil Mining Limited is a copper producer.
Mooncor Oil & Gas Corp. distributed a corporate update to shareholders Thursday. "Mooncor was an early mover in the Muskwa/Duvernay liquids-rich gas shale opportunity. Announcements by several companies in recent months regarding land acquisition and drilling plans have signalled recognition by the broader industry of the potential for this play. We understand that the wait for a joint venture partner has been long, but with natural gas prices stabilizing and prices for condensate and other NGLs exhibiting impressive strength (movement in crude oil prices provides a good barometer), we believe we are in a position at which the project is very attractive on a fully risked basis, and that this is reflected in the interest currently being shown by potential partners," said Darrell Brown, president and chief executive officer, in a statement.
Parkland Fuel Corporation fell to as low as $10.70 early Thursday after announcing that it had a net loss of $9.3-million in second quarter of 2011 compared with net income of $12.7-million in second quarter of 2010 principally from lower EBITDA, a $4.3-million increase in depreciation and amortization expenses, and $12.8-million in higher income tax expenses. Fuel sales volumes, however, increased 13 per cent to 903 million liters on organic growth and acquired volumes.
Avion Gold announced Thursday the results from ten reverse circulation drill holes totaling approximately 1,589 metres completed over a 500 metre strike of the Betea Central zone's interpreted strike length of approximately 1,000 metres. The Betea Central zone consists of at least three parallel lenses of gold mineralization. It said the main zone demonstrates the best continuity along the 1,000 metre strike of the zone. Within the main zone, Avion has identified five, moderate-north-plunging, higher grade sections that vary from 50 metres to 150 metres in strike length.
DDS Wireless , a provider of wireless data solutions for fleet management, jumped 16 per cent early Thursday after reporting a year-over-year revenue growth of 19 per cent in the second-quarter. Reported revenue of $11.1-million for the quarter represent a record level of second quarter revenue, and EBITDAS was positive at $1.5-million.
McCoy Corporation , a provider of innovative products and services to the global energy industry, went up by as much as 4 per cent after reporting that it has achieved revenue from continuing operations of $38.8-million, an increase of 64 per cent compared to last year's $23.7-million. Global demand for all of the company's products and services and increased production capacity combined to generate record revenue. Profit from continuing operations was $3.3-million compared to $1.2-million for the second-quarter of 2010, an increase of 174 per cent.
BIOX Corporation announced that its net loss was $2.5-million in third-quarter of 2011 compared to the previous year's $6-million after sales surge to $24.5-million from $6.6-million in the previous year. The increase in sales was primarily the result of a produce and store strategy the company implemented during the third-quarter of fiscal 2010, the sale of 2.6 million liters of biodiesel acquired from third parties during the third quarter of 2011, and higher revenue per liter of biodiesel sold.
Horizon North Logistics Inc. reported its financial and operating results Wednesday for the three and six months ended June 30, 2011. Consolidated revenue increased by 90 per cent and consolidated EBITDAS increased by 201 per cent as compared to the same period of 2010. Revenue from the camps and catering segment increased by 86 per cent as compared to the same period of 2010, driven by increased rental and catering activity and strong service revenue; and revenue from the matting segment increased by 116 per cent as compared to the same period of 2010, led by strong mat sales and related services. Horizon also declared a dividend for the third-quarter of 2011 at $0.04 per share, payable to shareholders of record at the close of business on September 30, 2011.Report Typo/Error
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- Cominar Real Estate Investment Trust$14.70-0.07(-0.47%)
- Premium Brands Holdings Corp$70.05-0.25(-0.36%)
- Mooncor Oil & Gas Corp$0.03+0.01(+20.00%)
- Parkland Fuel Corp$26.35-0.02(-0.08%)
- McCoy Global Inc$1.90+0.10(+5.56%)
- BIOX Corp$0.92+0.07(+8.24%)
- Horizon North Logistics Inc$1.72-0.07(-3.91%)
- Updated February 27 3:50 PM EST. Delayed by at least 15 minutes.