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Halmont Properties Corporation โ Third Quarter Results
Globenewswireยท 2025-11-26 18:36
Core Insights - Halmont Properties Corporation reported a net income of $12.25 million for the nine months ended September 30, 2025, an increase from $10.35 million in the same period of 2024 [1][2] - Revenue for the same period rose to $24.90 million from $20.96 million year-over-year [2] - Comprehensive income for common shareholders increased to $12.45 million from $11.43 million [2] - The diluted net income per common share decreased slightly to 4.85 cents from 5.07 cents [2] Financial Performance - Revenue: $24.90 million for the nine months ended September 30, 2025, compared to $20.96 million for the same period in 2024 [2] - Net Income: Increased to $12.25 million from $10.35 million year-over-year [2] - Comprehensive Income: Rose to $12.45 million from $11.43 million [2] - Diluted Net Income per Share: Decreased to 4.85 cents from 5.07 cents [2] Asset Performance - The commercial properties at 25 Dockside Drive and 2 Queen Street East, acquired in 2024, are performing well and providing stable cash flows [2] - The company maintains a strong balance sheet, with a fully diluted book value per common share of 95 cents, up approximately 11.76% from 85 cents one year earlier [3] Investment Strategy - Halmont invests directly in real assets, including commercial, forest, and residential properties [4] - Forestry investments, including a 59% effective interest in Haliburton Forest and a 7% equity stake in Acadian Timber Corp., continue to generate attractive returns and long-term growth potential [3]