vancouver british columbia, April 26, 2024 /CNW/ – Wall Financial Corporation (TSX: WFC) (the “Company”) announces its three-month and fiscal year results of operations and financial statements. January 31, 2024. We recorded net income and comprehensive income attributable to our stockholders for the year ended. January 31, 2024 of $22,233,339 or $0.69 compared to per share $48,206,620 or $1.49 per share for the previous period. This decrease in net income compared to the prior year was primarily due to gains on sales of investment properties in the prior year. $30,340,556 This is offset by an increase in overall operating profit for the year.
In the rental apartment business, sales and profits increased due to the acquisition of investment properties in the previous fiscal year, a decline in vacancy rates, and an increase in rent due to tenant turnover. The company's hotel revenue and revenue increased due to higher occupancy and average daily rates.Our development business income decreased due to a decrease in condominium sales.
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3 months ended January 31st |
Years ended January 31st |
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Profit and loss statement |
2024 |
2023 |
2024 |
2023 |
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Total revenue and other revenue |
$33,273,854 |
$30,920,469 |
$156,449,544 |
$144,726,718 |
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Net income attributable to shareholders of the Company |
551,495 |
1,659,786 |
22,233,339 |
48,206,620 |
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Earnings per share (diluted and undiluted) |
0.02 |
0.05 |
0.69 |
1.49 |
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statement of financial position |
January 31, 2024 |
January 31, 2023 |
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Total assets |
$896,277,758 |
$874,728,957 |
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Total fixed liabilities |
344,969,288 |
351,635,100 |
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Dividend payment amount |
97,360,095 |
– |
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Dividend per share |
3.00 |
– |
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The unaudited financial information above, including comparative information, is expressed in Canadian dollars and is expressed in Canadian dollars using the same accounting policies and methodologies described in Notes 2 and 3 of our audited consolidated financial statements. Prepared in accordance with International Financial Reporting Standards.In the last few years January 31, 2024 And in 2023.
Wall Financial Corporation is a British Columbia-based real estate company that develops and manages residential and commercial rental units, develops and constructs resale housing, and develops and manages hotel real estate.
Source Wall Financial Corporation
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