Imperial Equities reports year end earnings
EDMONTON, Jan. 28, 2013 /CNW/ - Imperial Equities Inc. (TSX-V:IEI) has reported net income before tax of $10.3 million or $1.10 per share on revenue of $55 million for the 12 months ended September 30, 2012. The revenues were generated from both segments of Imperial Equities being real estate and pharmaceutical distribution. Income also includes $8 million of fair value gains from real estate, primarily as a result of new buildings being completed and rising lease rates on existing properties.
Fiscal 2012 was the first year that Imperial Equities began reporting under International Financial Reporting Standards. All real estate assets are now valued utilizing fair market values as opposed to the traditional depreciated cost method.
"Several milestones were achieved by Imperial Equities throughout 2012. Income from operations, generated through our real estate holdings reached more than $5 million and the gross sales of pharmaceuticals surpassed $50 million", said Sine Chadi, President and CEO of Imperial Equities.
"2012 was clearly the strongest year in our 13 year history".
About Imperial Equities Inc.:
Imperial Equities Inc is based in Edmonton, Alberta. A diversified company anchored by commercial and industrial real estate properties in its targeted Edmonton and Alberta markets. Imperial also distributes pharmaceutical products to institutional and retail customers through its wholly owned subsidiary, Imperial Distributors Canada Inc. Additional information is available at: www.imperialequities.com
Imperial's common shares are listed on the TSX Venture Exchange under symbol IEI.
Neither TSX Venture nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Imperial Equities Inc.For further information:
Sine Chadi, CEO
Imperial Equities Inc.
Phone: 780 424-7227