- The Becker Milk Company Limited (BEK.B) has announced results for its fiscal year ended April 30, 2022
- Net operating income for the year ended April 30, 2022, dropped by $245,942 to $2,121,894 in comparison with the previous year, which was $2,367,836
- Net income per share was $3.13 compared to $1.96 in the same period in 2021
- Total revenues for the year ended April 30, 2022, fell to $2,670,042 compared to $3,097,155 for the same period in 2021
- Becker Milk Co Ltd owns and manages retail, commercial properties in Ontario
- Becker Milk Company Ltd. opened the day’s trading at $13.98 per share
The Becker Milk Company Limited (BEK.B) has announced the results for its fiscal year ended April 30, 2022.
The company’s net operating income for the year ended April 30, 2022, dropped by $245,942 to $2,121,894 compared with the previous year, which was $2,367,836.
This translated to a net income per share of $3.13 for the year ended April 30 as compared to $1.96 per share in the same period in 2021.
The company noted that the decrease was primarily caused by non-recurring adjustments to property revenue resulting from the completion of negotiations with Mac’s Convenience Stores Inc. regarding base rents for most of its locations.
In determining net operating income the revenue reduction was partially offset by lower property operating expenses.
Furthermore, total revenues for the year ended April 30, 2022 were $2,670,042 compared to $3,097,155 for the same period in 2021. This was a decrease of $427,113.
Since 2014 the Board of Directors has been evaluating strategic directions for the company and has engaged in discussions with potential acquirers. While the company has engaged in some talks during the last quarter, none of those discussions are active.
During this period, a programme of divesting less desirable sites has resulted in the sale of 26 investment properties.
The company continues to review its strategic alternatives and will update the market as appropriate, and as required.
Becker Milk Co Ltd owns and manages retail commercial properties in Ontario.
Becker Milk Company Ltd. opened the day’s trading at $13.98 per share.