Halmont Properties Corporation First Quarter Results
TORONTO, May 27, 2025 (GLOBE NEWSWIRE) -- HALMONT PROPERTIES CORPORATION (TSX-V: HMT) (“Halmont” or the “Company”) announced today that net income to shareholders for the three months ended March 31, 2025, was $4.9 million as compared to net income of $4.1 million for the three months ended March 31, 2024.
| (CAD$ thousands, except per share amount) | Three months ended | |||||
| March 31, 2025 | March 31, 2024 | |||||
| Revenue | $8,544 | $8,770 | ||||
| Net income - total | 4,962 | 4,114 | ||||
| - for common shareholders | 4,687 | 3,788 | ||||
| Net income per share for common shareholders | 2.78 | ¢ | 2.75 | ¢ | ||
Although there were no major transactions during the quarter, financial results reflect the continued contribution from investments completed in 2024, including the repositioning of our commercial property and forest portfolios. These included the acquisitions of interests in 25 Dockside Drive and 2 Queen East, as well as a $21.8 million investment in Haliburton Forest, increasing our effective ownership to 59%.
The fully diluted book value of Halmont’s common shares, assuming the conversion of its capital notes and convertible preferred shares, increased to 93¢ per common share compared to 82¢ in March 2024.
Halmont Properties Corporation invests directly in real assets including commercial, forest, and residential properties.
This news release includes certain forward-looking statements including management’s assessment of the Company’s future plans and operations based on current views and expectations. All statements other than statements of historic facts are forward looking statements. These statements contain substantial known and unknown risks and uncertainties, some of which are beyond the Company’s control. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. Readers should not place undue reliance on these forward-looking statements which represent estimates and assumptions only as of the date on which such statements are made. The Company undertakes no obligation to publicly revise or update any forward-looking statements, whether as a result of new information, future events or otherwise.
For additional information:
Heather M. Fitzpatrick
President
T: 647-448-7147
