Sonor Investments Limited Reports Second Quarter Financial Results
TORONTO, Aug. 14, 2018 (GLOBE NEWSWIRE) -- Sonor Investments Limited (TSX-V:SNI.PR.A) today reported its financial results for the six months ended June 30, 2018.
| 6 months ended June 30 | 3 months ended June 30 | |||
| 2018 | 2017 | 2018 | 2017 | |
| $000 | $000 | $000 | $000 | |
| Revenue | 3,598 | 3,973 | 3,618 | 3,459 |
| Net Income | 3,363 | 3,727 | 3,502 | 3,357 |
Michael Gardiner, Chairman and CEO, stated that as at June 30, 2018 the Company’s assets totalled $69.4 million. These assets included $8.7 million of marketable securities, $35.6 million in a private investment and $25.1 million of cash and cash equivalents.
During the six months ended June 30, 2018, the Company realized $806,000 of net capital gains on the sale of investments compared to $1,102,000 of net capital gains during the six months ended June 30, 2017. During the three months ended June 30, 2018, Sonor realized $56,000 of net capital gains on the sale of investments compared to $1,102,000 of net capital gains during the corresponding period of the previous year. Revenue in fiscal 2018 included a dividend of $3,381,000 received in April, 2018 from Fairwater Capital Corporation. During fiscal 2017 a similar dividend was received in April, 2017. During the three months ended June 30, 2018, a dividend of $261,000 was paid ($503,000 in 2017) to common shareholders.
During the period under review, the Company has maintained net assets and qualified investments in excess of the amounts prescribed under the share conditions pertaining to the First Preference Shares in its capital stock.
Sonor Investments Limited is an investment corporation located in Toronto, Canada. The First Preference Shares of Sonor trade on The TSX Venture Exchange under the symbol SNI.PR.A.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contacts: Mr. Michael Gardiner Chairman and CEO (416) 369-1499 Mr. David Middleton Treasurer & CFO (416) 369-1499
