Business
Aberdeen International Reports Results for the Quarter Ended April 30, 2022
Total investment gains were $0.3 million for the three months ended April 30, 2022, made up of realized losses on investments of $0.2 million and unrealized gai
About this update from Aberdeen International Inc.
[{"type":"text","content":" Total investment gains were $0.3 million for the three months ended April 30, 2022, made up of realized losses on investments of $0.2 million and unrealized gains on investments of $0.5 million. As at April 30, 2022, Aberdeen's shareholders' equity was $39.9 million, or $0.29 per basic share. Investments in clean energy inputs and technologies such as Progressus, EV Technology Group and Jourdan continue to be core to Aberdeen’s strategy. TORONTO, June 14, 2022 (GLOBE NEWSWIRE) -- Aberdeen International Inc. (“Aberdeen” or the “Company”) (TSX: AAB, F: A8H, OTC: AABVF) is pleased to announce that it has released its financial results for the quarter ended April 30, 2022. For the three months ended April 30, 2022, Aberdeen reported net loss of $1.2 million or $0.01 per basic share from total revenue of $0.3 million (realized loss on investments of $0.2 million and unrealized gains on investments of $0.5 million). For the three months ending April 30, 2021, Aberdeen reported a net income of $3.3 million or $0.02 per basic share from total revenue of $4.0 million (realized gain on investments of $0.2 million, unrealized gains on investments of $3.8 million and interest and advisory income of $0.1 million). The Company’s investment portfolio was buoyed by value creation from key investment companies, particularly the successful public listing of EV Technology Group Ltd (“EVTG”). EVTG continues to build its business with the announcement of construction of a flagship store, signing of first customers and bolstering of its leadership team with key hires. The net loss comes largely as a result of ramping up internal technical, financial and operational capabilities to capitalize on the suite of opportunities emerging in the renewable energy and natural resources sector. “We remain committed to our investment thesis. The success of EVTG’s listing in the public markets indicates that there is continued investor demand for companies focused on enabling a more sustainable future. We are excited about the prospects for EVTG and a number of other private companies in our portfolio that are focused on solving the issues of clean power and food security,” said Chris Younger, CEO of Aberdeen. The Company continues to focus on the transition to an economy fuelled by clean energy, seeking attractive investment opportunities and strategic partners ...