Montfort Capital Announces Third Quarter 2022 Financial Results

About this update from Montfort Capital Corp

[{"type":"text","content":"\n \n \n \n Montfort Capital Announces Third Quarter 2022 Financial Results\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n ~Montfort delivers record Q3 revenue and record net comprehensive income;\n \n \n \n completes acquisition of Langhaus Financial after quarter end~\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 29, 2022\n \n \n /CNW/ -\n \n Montfort Capital Corporation (\"Montfort\" or the \"Company\")\n \n (TSXV: MONT) (OTCQB: MONTF), a leading alternative lender utilizing focused strategies, experienced management teams and advanced technology, is pleased to report consolidated interim financial results for the third quarter ended\n \n September 30, 2022\n \n . All figures are reported in Canadian dollars unless otherwise noted.\n \n \n \n Third Quarter 2022 Highlights\n \n \n \n For the three months ended\n \n September 30, 2022\n \n , the Company had the following highlights:\n \n \n \n Record revenue of\n \n $7.9 million\n \n , an increase of\n \n $6.5 million\n \n or 463% from\n \n $1.4 million\n \n in the three months ended\n \n August 31, 2021\n \n ,\n \n \n Interest income from investments was\n \n $5.7 million\n \n , an increase of\n \n $4.4 million\n \n or 360% from\n \n $1.2 million\n \n in the prior comparable period,\n \n \n Net income increased 67% to\n \n $0.5 million\n \n from\n \n $0.3 million\n \n in the third quarter 2021,\n \n \n Total assets of\n \n $302 million\n \n as at\n \n September 30, 2022\n \n compared to\n \n $125 million\n \n at\n \n December 31, 2021\n \n . Cash balance, as part of assets, for the third quarter was\n \n $5.5 million\n \n compared to\n \n $9.3 million\n \n as at\n \n December 31, 2021\n \n , and\n \n \n \n Montfort's\n \n consolidated loan investment portfolio (loans receivable) increased to\n \n $240.3 million\n \n in the third quarter 2022 compared to\n \n $106.9 million\n \n as of\n \n December 31, 2021\n \n .\n \n \n \n On a comprehensive basis:\n \n \n \n Reported record consolidated net comprehensive income of\n \n $2.6 million...

More updates from Montfort Capital Corp