Sonor Investments Limited Reports Second Quarter Financial Results
17 August 2011 - 5:56PM
Marketwired
Sonor Investments Limited (TSX VENTURE: SNI.PR.A) today reported
its financial results for the six months ended June 30, 2011.
6 months ended June 30 3 months ended June 30
2011 2010 2011 2010
$000 $000 $000 $000
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Revenue 355 288 177 144
Net Income 101 71 57 68
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Michael Gardiner, President and Chief Executive Officer, stated
that as at June 30, 2010 the Company's assets totaled $55.5
million. These assets included $16.2 million of marketable
securities, $35.6 million in a private investment and $3.6 million
of cash and cash equivalents.
During the six months ended June 30, 2011, the Company realized
net capital gains of $62,000 on the sale of investments compared to
net capital gains of $9,000 during the six months ended June 30,
2010. During the three months ended June 30, 2011, Sonor realized
no net capital gains or losses on the sale of investments compared
to net capital gains of $9,000 during the corresponding period of
the previous year.
During the period under review, the Company has maintained net
assets and qualified investments in excess of the amounts
prescribed under the share conditions pertaining to the First
Preference Shares in its capital stock.
The financial statements for the periods ending June 30, 2011
incorporate the International Financial Reporting Standards
("IFRS") required by financial regulators in Canada commencing
January 1, 2011. This transition to IFRS has little impact on the
Company's operating results.
Sonor Investments Limited is an investment corporation located
in Toronto, Canada. The First Preference Shares of Sonor trade on
The TSX Venture Exchange under the symbol SNI.PR.A.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Sonor Investments Limited Mr. Michael Gardiner
President and CEO (416) 369-1499 Sonor Investments Limited Mr.
Stephen Mills Treasurer & CFO (416) 369-1499
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