Wall Financial Corporation Announces Q2 Fiscal 2023 Results


VANCOUVER, BC, Sept. 13, 2022 /CNW/ – Wall Financial Corporation (the “Company”) released its operating results and financial statements for the six months ended July 31, 2022.  The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the six months ended July 31, 2022 of $39,313,638 or $1.21 per share compared to $12,174,552 or $0.37 per share in the prior period.  This increase in net earnings compared to prior period was primarily due to the sale of an investment property and improved operations at the Company’s hotels.

Revenue and income from the rental apartment operations remain stable and revenues from the development operations decreased from the prior period due to the closing of 111 condominium units in the prior period.    












Three months ended July 31

Six months ended July 31


Statements of Earnings


2022

2021

2022

2021



Total revenue and other income


$        41,018,707

$        64,635,819

$        73,927,172

$      181,912,946



Net earnings attributable to shareholders of the Company


9,314,113

5,843,084

39,313,638

12,174,552



Earnings per share (diluted and non-diluted)


$                   0.29

$                   0.18

$                   1.21

$                   0.37










Statements of Financial Position




July 31, 2022

January 31, 2022



Total assets




$    827,010,753

$    874,063,426



Total non-current liabilities




$    289,430,996

$    277,821,380



Dividends paid




$                       –

$                       –



Dividends paid per share




$                       –

$                       –










 

The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described in notes 2 and 3 of the Company’s audited consolidated financial statements for the years ended January 31, 2022 and 2021.   

Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties. 

SOURCE Wall Financial Corporation

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