VANCOUVER, BC, April 26, 2023 /CNW/ - Wall Financial Corporation (the "Company") released its operating results and financial statements for the year ended January 31, 2023. The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the year ended January 31, 2023 of $48,206,620 or $1.49 per share compared to $14,614,710 or $0.45 per share in the prior period. This increase in net earnings compared to prior year was primarily due to the sale of an investment property and improved operations at the Company's hotels.
Revenue and income from the rental apartment operations remain stable and revenues from the development operations decreased from the prior year due to the closing of 130 condominium units in the prior year.
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Three months ended January 31
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Year ended January 31
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Statements of Earnings
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2023
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2022
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2023
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2022
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Total revenue and other income
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$ 30,920,469
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$ 29,566,882
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$ 144,726,718
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$ 241,546,354
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Net earnings attributable to shareholders of the Company
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1,659,786
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729,736
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48,206,620
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14,614,710
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Earnings per share (diluted and non-diluted)
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0.05
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0.03
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1.49
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0.45
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Statements of Financial Position
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January 31, 2023
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January 31, 2022
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Total assets
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$ 874,728,957
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$ 874,063,426
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Total non-current liabilities
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351,635,100
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277,821,380
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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, 2023 and 2022.
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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