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Gulf & Pacific Equities Corp. reports on Second Quarter Results with Revenue of $1,124,742 And welcomes La Vie en Rose to Tri-City Mall
Globenewswireยท 2025-08-22 11:15
Core Insights - Gulf & Pacific Equities Corp. reported a 1.7% decrease in revenues to $1,124,742 for the quarter ended June 30, 2025, compared to $1,143,880 in the same period last year [1] - The company experienced a net income before fair value adjustments of $17,394 for the quarter, up from $14,120 in the previous year [3] - The company signed a long-term lease with La Vie en Rose for Tri-City Mall, expected to open in the fourth quarter of 2025 [3] Financial Performance - For the six months ended June 30, 2025, revenue was $2,257,363, slightly up from $2,231,766 in 2024 [3] - The net income (loss) for the six months was $(322,444), compared to $(1,249) in the previous year [3] - The weighted average number of common shares outstanding was 21,410,685 for both basic and diluted calculations [3] Company Overview - Gulf & Pacific Equities Corp. focuses on acquiring, managing, and developing anchored shopping centers in Western Canada's rural areas, particularly Alberta [6] - The company targets smaller, rapidly growing hub communities with essential services such as hospitals and high schools [6] - Gulf & Pacific currently owns three retail assets located in Three Hills, St. Paul, and Cold Lake, Alberta [6]