{"id":386163,"date":"2020-11-20T15:04:15","date_gmt":"2020-11-20T20:04:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386163"},"modified":"2020-11-20T15:04:15","modified_gmt":"2020-11-20T20:04:15","slug":"halmont-properties-corporation-third-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/halmont-properties-corporation-third-quarter-results\/","title":{"rendered":"Halmont Properties Corporation Third Quarter Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">TORONTO, Nov.  20, 2020  (GLOBE NEWSWIRE) &#8212; <strong>HALMONT PROPERTIES CORPORATION (TSX-V: HMT)<\/strong> announced today that net income to common shareholders for the nine months ended September 30, 2020 was $2,444,000 as compared to net income of $3,697,000 for the nine months ended September 30, 2019.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">Nine months ended<\/td>\n<td style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">(in thousands)<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">September 30, 2020<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">September 30, 2019<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-top: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:77%;width:77%;min-width:77%;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">Revenue<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">6,765<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:2%;width:2%;min-width:2%;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">$<\/td>\n<td style=\"max-width:9%;width:9%;min-width:9%;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">9,828<\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">Net income<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top;vertical-align: bottom\">&#8211; total<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">3,417<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">4,138<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: top;vertical-align: bottom\">&#8211; for common shareholders<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">2,444<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">3,697<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">Net income per share for common shareholders<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">2.09<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a2<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">2.68<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a2<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-right: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"padding-left: 0;text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: top;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">Net income attributable to common shareholders in the third quarter of 2020 decreased to $2,444,000 compared to $3,697,000 in 2019. Excluding the after-tax gain on the sale of a commercial property which occurred in the third quarter of 2019, net income for the nine months ended September 30, 2020 increased to $3,417,000 compared to $2,225,000 in 2019 and net income attributable to common shareholders in the third quarter of 2020 increased to $2,444,000 compared to $1,784,000 in 2019.<\/p>\n<p align=\"justify\">The increase in the company\u2019s earnings compared to the same period in 2019 is due principally to the additional capital invested in 2019 in forest properties, as well as participating loans receivables.<\/p>\n<p align=\"justify\">With respect to the impact of COVID-19, our businesses overall performed well in the first quarter, however our commercial properties are being impacted and we are working to mitigate the consequences.<\/p>\n<p align=\"justify\">The book value of each common share increased to 59\u00a2 at September 30, 2020 compared to 53\u00a2 in 2019. Halmont revalues its principal assets each year in accordance with IFRS accounting principles, considering available market information and the relevant terms of its joint-venture and partnership agreements. As a result, the common share book value approximates their realizable values.<\/p>\n<p align=\"justify\">Halmont Properties Corporation invests directly in real estate and securities of companies holding property, energy, and infrastructure.<\/p>\n<p align=\"justify\">\n        <em>This news release includes certain forward-looking statements including management\u2019s assessment of the Company\u2019s <\/em><br \/>\n        <em>future plans<\/em><br \/>\n        <em> 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\u2019s control. The Company\u2019s 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 <\/em><br \/>\n        <em>as a result of<\/em><br \/>\n        <em> new information, future events or otherwise.<\/em>\n      <\/p>\n<p align=\"justify\">For additional information:<br \/>Heather M. Fitzpatrick<br \/>President<br \/>647-448-7147<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDA1OSMzODM4MDcwIzIwOTI4OTk=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/4c5160e1-9089-48ec-9cc2-e88bf2470c85\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; HALMONT PROPERTIES CORPORATION (TSX-V: HMT) announced today that net income to common shareholders for the nine months ended September 30, 2020 was $2,444,000 as compared to net income of $3,697,000 for the nine months ended September 30, 2019. \u00a0 Nine months ended \u00a0 (in thousands) September 30, 2020 \u00a0 September 30, 2019 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Revenue $ 6,765 \u00a0 $ 9,828 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net income \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 &#8211; total \u00a0 3,417 \u00a0 \u00a0 4,138 \u00a0 &#8211; for common shareholders \u00a0 2,444 \u00a0 \u00a0 3,697 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net income per share for common shareholders \u00a0 2.09 \u00a2 \u00a0 2.68 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/halmont-properties-corporation-third-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Halmont Properties Corporation Third Quarter Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386163","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Halmont Properties Corporation Third Quarter Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/halmont-properties-corporation-third-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Halmont Properties Corporation Third Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TORONTO, Nov. 20, 2020 (GLOBE NEWSWIRE) &#8212; HALMONT PROPERTIES CORPORATION (TSX-V: HMT) announced today that net income to common shareholders for the nine months ended September 30, 2020 was $2,444,000 as compared to net income of $3,697,000 for the nine months ended September 30, 2019. \u00a0 Nine months ended \u00a0 (in thousands) September 30, 2020 \u00a0 September 30, 2019 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Revenue $ 6,765 \u00a0 $ 9,828 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net income \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 &#8211; total \u00a0 3,417 \u00a0 \u00a0 4,138 \u00a0 &#8211; for common shareholders \u00a0 2,444 \u00a0 \u00a0 3,697 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net income per share for common shareholders \u00a0 2.09 \u00a2 \u00a0 2.68 &hellip; Continue reading &quot;Halmont Properties Corporation Third Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/halmont-properties-corporation-third-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-20T20:04:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDA1OSMzODM4MDcwIzIwOTI4OTk=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Halmont Properties Corporation Third Quarter Results\",\"datePublished\":\"2020-11-20T20:04:15+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/\"},\"wordCount\":397,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODA5MDA1OSMzODM4MDcwIzIwOTI4OTk=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/halmont-properties-corporation-third-quarter-results\\\/\",\"name\":\"Halmont Properties Corporation Third Quarter Results - 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