Financial Results Announcement by Hampton Financial Corporation
Hampton Financial Corporation Announces Financial Results for Fiscal 2024
TORONTO, Dec. 30, 2024 (GLOBE NEWSWIRE) — Hampton Financial Corporation (“Hampton” or the “Company”, TSXV:HFC) has released its financial results for the 4th Quarter and full year of fiscal 2024.
Executive Chairman & CEO Peter Deeb commented on the results, stating, “While our results for the year demonstrate some improvement due to cost control and the inclusion of our commercial lending business acquisition, the fourth quarter and full year results reflect continued pressures on Revenues and Earnings across our industry. Capital Markets activity continues to be weaker than expected. On the bright side, our commercial lending activities provided some optimism for 2025 and beyond.”
Key highlights from the Fourth Quarter IFRS Results include:
– Q4 Revenues of $3,351,000; an increase of 51% year-over-year
– Q4 Net Losses of ($1,925,000) or $(0.04) per share
For the Full Year IFRS Results:
– FY Revenues of $9,794,000; an increase of 12% year-over-year
– FY Net Losses of ($2,740,000) or $(0.07) per share
When adjusted for Non-Recurring & Non-Cash Items, the Full Year fiscal results show:
– FY Adjusted Net Losses of ($1,186,000) or $(0.02) per share
– FY EBITDA of ($535,000) vs ($1,395,000) for the fiscal year 2023
Despite the challenges faced in 2024, Hampton remains optimistic for the future. The company intends to expand its business portfolio while focusing on growing its Wealth Management, Capital Markets, and Commercial Lending operations. The company’s subsidiary, Hampton Securities Limited, continues to develop its Wealth Management and Advisory Team programs, offering experienced wealth managers a unique operating platform.
Hampton Financial Corporation is a private equity firm actively engaged in family office, wealth management, institutional services, and capital markets activities. The company is also involved in Commercial Lending through its subsidiary, Oxygen Working Capital. For more information, contact Chief Financial Officer Olga Juravlev at (416) 862-8701 or Executive Chairman & CEO Peter M. Deeb at (416) 862-8651.
The TSXV has not approved or disapproved the contents of this press release, and no securities regulatory authority has approved or disapproved of the contents. This press release does not constitute an offer to buy or sell securities in the United States or any other jurisdiction outside of Canada.
Forward-Looking Statements:
This press release contains forward-looking statements that involve known and unknown risks and uncertainties. Actual results may vary from those expressed or implied by the forward-looking statements. Readers are advised to evaluate the risks and uncertainties inherent in forward-looking statements and not rely solely on them. The Company assumes no obligation to update or revise any forward-looking statements.
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