Skip to main content
Unchecking box will stop auto data updates
TSX Real-Time Last Sale CAD
Today's Change
Volume
Price Quote as of

More stories below advertisement

Wall Financial Corporation announces F'19 year end operating results and financial statements

CNW Group - Thu Apr 18, 11:22PM CDT

Wall Financial Corporation (the "Company") released its operating results and financial statements for the year ended January 31, 2019. The Company recorded net earnings attributable to shareholders of the Company for the year ended January 31, 2019 of $54,982,639 or $1.62 per share compared with net earnings of $12,426,057 or $0.37 per share for the prior year.

Continued growth in average daily rates at the hotels resulted in increased revenue from hotel operations of $85,112,657 for the year ended January 31, 2019 compared with revenue of $76,210,250 for the prior year. Revenues from the Company's rental properties for the year ended January 31, 2019 were $32,570,404 compared with $21,342,349 for the prior year due to higher re-rental rates from the Company's renovated units and the lease up of the Company's two recently constructed rental properties consisting of 313 rental units in aggregate. Revenue from development operations for the year ended January 31, 2019 of $334,533,585 was higher than the prior year of $198,161,538 due to more closings of condominium units.

Three months ended January 31                             Year ended January 31




       Revenue and earnings                                              2019                2018                                2019                        2018

    ---


       Total revenue and other income                                       $
        138,026,267                                           $
            20,759,915       $
         453,880,434 $
        295,936,507



       Net earnings attributable to shareholders of the Company 37,115,648         (1,479,761)                         54,982,639                  12,426,057



       Earnings per share (diluted and non-diluted)                            $
            1.09                                               $
            (0.04)          $
            1.62     $
           0.37

                                                                                                                                                                                                        ---





       Balance sheet                                                                                            January 31, 2019           January 31, 2018

    ---


       Total assets                                                                                                                 $
            1,244,788,463     $
         1,316,007,993



       Total non-current liabilities                                                                                                  $
            313,429,192       $
         231,548,633



       Dividends paid                                                                                                                  $
            33,953,365        $
         16,976,683



       Dividends paid per share                                                                                                              $
            1.00           $
            0.50

                                                                                                                                                                                       ===

The above unaudited financial information, including comparative information, is expressed in Canadian dollars and 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 January 31, 2019 and 2018.

Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential rental apartments, development and construction of residential housing for resale, and the development and management of hotel properties.

SOURCE Wall Financial Corporation

View original content: http://www.newswire.ca/en/releases/archive/April2019/19/c3000.html

SOURCE: Wall Financial Corporation

Bruno Wall, President, WALL FINANCIAL CORPORATION (TSX:WFC.TO), 1010 Burrard Street,
Vancouver, British Columbia V6Z 2R9, 604.893.7131.

More stories below advertisement

All market data (will open in new tab) is provided by Barchart Solutions. Copyright © 2019.

Information is provided 'as is' and solely for informational purposes, not for trading purposes or advice. For exchange delays and terms of use, please read disclaimer (will open in new tab).