Business
Yorkton Equity Group Inc. Announces Financial Results for Nine-Months Ended September 30, 2022
(TheNewswire) Edmonton, Alberta – TheNewswire - November 24, 2022 ...
About this update from Yorkton Equity Group Inc
[{"type":"text","content":"Yorkton Equity Group Inc. Announces Financial Results for Nine-Months Ended September 30, 2022\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Edmonton, Alberta\n \n \n –\n \n \n TheNewswire -\n \n \n November 24, 2022 – Yorkton Equity Group Inc.\n(“Yorkton” or the “Company”) (TSXV:YEG) is pleased to announce\nits financial results for the nine-months ended September 30, 2022.\n \n \n \n \n \n \n Mr. Ben Lui, President\nand CEO of Yorkton stated that, “Our third quarter financial results\nhave shown substantial revenue growth from $\n \n \n 579,667 in the first nine (9) months of 2021\n \n \n to $\n \n \n 2,256,380\n \n \n in\nthe first nine (9) months of 2022 with strong positive cash flow from\noperations and resulting in earnings in Q3 2022 that reflect our\naccretive property acquisitions in strategic markets across British\nColumbia and Alberta. With Yorkton celebrating its 2\n \n \n nd\n \n \n anniversary of\nlisting on the TSX Venture Exchange this week, we are very pleased to\nsee that our total assets have grown from $14.2 million at inception\nof becoming a public company to $58.1 million at September 30, 2022.\nWe continue to look across Canada for acquisition opportunities;\nhowever, our current focus has now turned to Alberta\n \n \n \n which\nhas no rent controls, no provincial sales tax, a relatively low cost\nof living and reasonable cost of housing, thereby giving landlords the\nmaximum flexibility in setting rent to reflect business metrics and\nmarket conditions. We believe that strong population in-migration to\nAlberta will continue due to abundant job opportunities and the low\ncost of living, especially in the current inflationary\nenvironment.”\n \n \n \n \n \n Q3 2022 Financial Highlights\n \n \n \n \n \n \n Total rental revenue increased by approximately 168%\nfrom $\n \n \n 308,849\n \n \n to\n$\n \n \n 828,788\n \n \n in the three\nmonths ended September 30, 2022 and increased by approximately 289%\nfrom $\n \n \n 579,667\n \n \n to\n$\n \n \n 2,256,380\n \n \n in the\nnine-months ended September 30, 2022. Net rental income increased by\napproximately 157% from $\n \n \n 223,085\n \n \n to $\n \n \n 573,116\n \n \n in\nthe three months ended September 30, 2022 and increased by\napproximately 254% from $405,000 ...