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TORONTO, April 28, 2022 (GLOBE NEWSWIRE) — Hampton Financial Corporation (TSXV:HFC & HFC.PR.A) is pleased to report its financial performance for the 2nd quarter ended February 28th, 2022. Revenues for the quarter were $3,638,000 vs $4,580,000 in the 2nd quarter of last year; a decrease of 20.6%. Net Income for the period was $187,000 or $0.01 per share compared to $594,000 or $0.02 per share in 2021. EBITDA for the quarter was $483,000 vs $895,000 in the same quarter last year; a decrease of 46.0%. The decrease in the Second quarter results can be attributed to the timing of certain revenue items that will be reflected in the 3rd quarter.
For the six-month period ended February 28, 2022, Revenues were a record $9,649,000 vs $6,973,000; an increase of 38.4%. Net income for the same period was also a new record at $1,221,000 or $0.04 per share vs $517,000 or $0.02 per share. EBITDA for the six-month period was $1,827,000 vs $1,092,000 for the same period last year; an increase of 67.3%.
“All business lines continue to show strength as our AUA/AUM continues to grow with the addition of new advisors and their clients. Earnings at the half year mark have matched our full-year earnings in 2021 and our pipeline for new revenues remains strong,” stated Hampton Executive Chairman & CEO Peter Deeb.
Copies of Hampton’s unaudited interim financial statements and its Management’s Discussion & Analysis for the six months ended February 28, 2022 can be accessed on SEDAR at www.sedar.com.
About Hampton Financial Corporation
Hampton Financial Corporation is a unique private equity firm that seeks to build shareholder value through long-term strategic investments. Through its wholly owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by IIROC and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario and Quebec. In addition, the company provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad.
For more information, please contact:
Chief Financial Officer
Hampton Financial Corporation
Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
The TSXV has in no way approved nor disapproved the contents of this press release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities of the Company.