Gulf & Pacific Equities Corp. Reports on First Quarter Results With Revenue of $882,765
26 Mai 2014 - 3:01PM
Marketwired
Gulf & Pacific Equities Corp. Reports on First Quarter Results
With Revenue of $882,765
TORONTO, ONTARIO--(Marketwired - May 26, 2014) -
NOT FOR
DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISTRIBUTION INTO THE
UNITED STATES
Gulf & Pacific Equities Corp. (TSX-VENTURE:GUF) an
established company focused on the acquisition, management and
development of anchored shopping centres in Western Canada, reports
a 39.3% increase in revenues to $882,765 in the first quarter of
2014 from $633,681 at year end 2013.
Details of the three months financial results for fiscal 2014
and 2013 under International Financial Reporting Standards (IFRS)
as summarized below are also available at www.sedar.com or at the
company's website www.gpequities.com.
|
Three Months Ended |
|
|
(Unaudited) |
|
|
March 31, |
|
|
2014 |
|
2013 |
|
|
|
|
|
|
|
|
Revenue |
$ |
882,765 |
|
$ |
633,681 |
|
|
|
|
|
|
|
|
Net Income (Loss) before fair value adjustment and
income taxes |
$ |
(108,461 |
) |
$ |
(204,579 |
) |
|
|
|
|
|
|
|
Net Income (Loss) before fair value adjustment and
income taxes per share |
|
|
|
|
|
|
|
-
Basic and diluted |
|
(0.01 |
) |
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Income (Loss) and Comprehensive Income (Loss) |
$ |
4,602,995 |
|
$ |
(120,571 |
) |
|
|
|
|
|
|
|
Net Income (Loss) and Comprehensive Income (Loss) per
common share - basic |
$ |
0.51 |
|
$ |
(0.01 |
) |
Net Income (Loss) and Comprehensive Income (Loss) per
common share - diluted |
$ |
0.18 |
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
Weighted average number of common shares outstanding -
basic |
|
9,030,011 |
|
|
8,936,678 |
|
Weighted average number of common shares outstanding -
diluted |
|
25,362,678 |
|
|
25,469,345 |
|
* Not presented as effect of dilutive items are
anti-dilutive
About Gulf &
Pacific Equities Corp.
Gulf & Pacific Equities Corp. was incorporated under the
laws of the Province of Alberta on April 8, 1998 and thereafter
completed a public offering of common shares by prospectus dated
June 26, 1998 (TSX-VENTURE:GUF).
The Company acquires, manages and develops anchored shopping
malls in rural centres in Western Canada, in particular Alberta.
Gulf & Pacific targets smaller, but rapidly growing hub
communities that have hospital, high school, police station and
retail/service infrastructure. Management has consistently
reinvested cash flow to improve and grow its portfolio of income
properties.
Gulf & Pacific Equities Corp. currently owns three,
well-located retail assets located in Three Hills, St. Paul, and
Cold Lake, Alberta.
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
Cautionary Statements
This news release contains "forward-looking statements",
within the meaning of the United States Private Securities
Litigation Reform Act of 1995 and similar Canadian legislation,
concerning the business, operations and financial performance and
condition of Gulf & Pacific Equities. Forward-looking
statements include, but are not limited to, statements with respect
to the benefits of the offering and option transaction. Generally,
these forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are based on the opinions and estimates of management as
of the date such statements are made, and they are subject to known
and unknown risks, uncertainties and other factors that may cause
the actual results, level of activity, performance or achievements
of Gulf & Pacific Equities to be materially different from
those expressed or implied by such forward-looking statements,
including but not limited to risks related to: economic conditions
in Western Canada, interest rates, raising less than the required
capital; not realizing on the anticipated benefits from the
transaction or not realizing on such anticipated benefits within
the expected time frame; and other risks of the real estate
industry. Although management of Gulf & Pacific Equities has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. Gulf &
Pacific Equities does not undertake to update any forward-looking
statements that are incorporated by reference herein, except in
accordance with applicable securities laws.
Gulf & Pacific Equities Corp.Mr. Anthony CohenPresident and
Chief Executive
Officer416-968-3337416-968-3339info@gpequities.comwww.gpequities.com
Gulf and Pacific Equities (TSXV:GUF)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
Gulf and Pacific Equities (TSXV:GUF)
Historical Stock Chart
Von Jun 2023 bis Jun 2024