EDMONTON, Alberta, Nov. 06, 2025 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. ("Melcor") (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the third quarter ended September 30, 2025. The third quarter Management Discussion & Analysis (MD&A) and Condensed Interim Financial Statements are available on our website (www.melcor.ca) under Investors, or on SEDAR+ (www.sedarplus.ca). Timothy Melton, Melcor’s Executive Chair and Chief Executive Officer, com ...

Core Insights - Melcor Developments Ltd. reported a consolidated revenue of $150.88 million for the year-to-date, marking a 26.3% increase compared to 2024 [2][14] - The company experienced a gross margin improvement to 54.6% year-to-date, up from 49.1% in the previous year [2][14] - Funds from operations (FFO) increased by 36.7% to $85.96 million year-to-date, driven by strong performance across operating divisions [2][22] Financial Performance - Consolidated revenue for Q2 2025 was $100.14 million, a 43.7% increase from $69.71 million in Q2 2024 [14][31] - Gross profit for Q2 2025 rose to $55.04 million, up 56.8% from $35.09 million in Q2 2024 [14][31] - Net income for Q2 2025 decreased by 68.9% to $7.26 million, primarily due to an additional $22.20 million in deferred income taxes related to the acquisition of Melcor REIT [19][31] Divisional Highlights - The Land division's revenue increased by 83.0% to $68.15 million in Q2 2025, attributed to strong sales in the US region [23][24] - The Properties division accounted for 35.5% of total revenue, with occupancy rates decreasing to 81.6% from 86.1% at year-end 2024 [24][16] - The US market contributed 52.6% of total revenue in Q2 2025, highlighting the importance of this region for Melcor's growth [17][23] Strategic Transactions - On April 23, 2025, Melcor completed the acquisition of all outstanding public trust units in Melcor REIT for $5.50 per unit, consolidating its income-producing properties [5][8] - The transaction resulted in a $22.20 million increase in deferred tax liabilities and $7.08 million in transaction costs [19][20] - The company is evaluating strategic asset sales to strengthen its balance sheet and reduce bank operating lines [6][29] Shareholder Returns - The Board declared a quarterly dividend of $0.13 per share, up from $0.11 per share, reflecting a commitment to returning value to shareholders [7][34] - The company repurchased 174,276 shares for cancellation at a cost of $2.24 million in 2025 [34]

Core Points - Melcor Developments Ltd. held its annual general meeting (AGM) on June 24, 2025, with 24,073,887 shares voted, representing 79.59% of outstanding shares [1] - All items of business were approved by shareholders, including the election of directors with high approval rates, ranging from 96.23% to 96.37% [1] Company Overview - Melcor is a diversified real estate development and asset management company established in 1923, known for its innovation in the real estate sector [2] - The company manages the full life cycle of real estate development, including land acquisition, community planning, construction, and management of revenue-producing assets [3] - Melcor develops and manages various properties, including mixed-use residential communities, business and industrial parks, office buildings, retail centers, and golf courses [3] Commitment to Community - Melcor is dedicated to building communities that enhance the quality of life, where people can live, work, shop, and play [4]

Core Viewpoint - Melcor Developments Ltd. has announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 1,511,087 common shares, representing approximately 5% of its issued and outstanding shares, over a twelve-month period starting June 10, 2025 [1][2]. Group 1: Normal Course Issuer Bid Details - The NCIB will allow Melcor to purchase common shares for cancellation at the market price at the time of acquisition, subject to TSX guidelines [3]. - The previous NCIB resulted in the purchase of 344,248 common shares at a weighted average price of $12.5877, with a total of 1,525,527 shares approved for repurchase [4]. - As of May 31, 2025, Melcor had 30,221,745 common shares outstanding and an average daily trading volume of 5,867 shares [4]. Group 2: Rationale for Share Repurchase - Melcor believes that its common shares sometimes trade at a price that does not reflect their true value relative to the company's business and future prospects, making the shares an attractive investment for the company [5]. - The repurchase of shares is expected to benefit existing shareholders by increasing their equity interest in Melcor [5]. Group 3: Automatic Share Purchase Plan - Melcor has entered into an automatic share purchase plan (ASPP) with a broker to facilitate share purchases during periods when the company would typically not be active in the market due to regulatory restrictions [6]. - The broker will make purchases under the NCIB based on parameters set by Melcor prior to any restricted or blackout periods, ensuring compliance with TSX rules and applicable securities laws [6]. Group 4: Company Overview - Melcor Developments Ltd. is a diversified real estate development and asset management company, involved in transforming raw land into high-quality residential and commercial properties [7]. - The company has been active in real estate since 1923, having developed over 140 communities and currently managing 4.48 million square feet of commercial real estate and 447 residential rental units [8]. - Melcor operates in multiple regions, including Alberta, Saskatchewan, British Columbia, Arizona, and Colorado, and has been publicly traded since 1968 on the Toronto Stock Exchange [9].

EDMONTON, Alberta, May 13, 2025 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. ("Melcor") (TSX: MRD), an Alberta-based real estate development and asset management company, today reported results for the first quarter ended March 31, 2025. The first quarter Management Discussion & Analysis (MD&A) and Condensed Interim Financial Statements are available on our website (www.melcor.ca) under Investors, or on SEDAR+ (www.sedarplus.ca). Timothy Melton, Melcor’s Executive Chair and Chief Executive Officer, comment ...