Dream Unlimited Corp. Reports Strong Third Quarter and Year-to-Date 2015 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/05/15 -- This press release contains forward-looking information that is based upon assumptions and is subject to risks and uncertainties as indicated in the cautionary note contained within this press release.
Dream Unlimited Corp. (TSX: DRM)(TSX: DRM.PR.A) ("Dream", "the Company" or "we") today announced its financial results for the three and nine months ended September 30, 2015. Basic earnings per share ("EPS") for the three months ended September, 2015 were $0.23, up from $0.07 for the three months ended September 30, 2014. Basic EPS for the nine months ended September 30, 2015 were $1.36, up from $0.35 for the nine months ended September 30, 2014. At September 30, 2015, the Company''s total equity increased to $719.7 million, up 22% from $591.8 million at December 31, 2014.
Michael Cooper, President & Chief Responsible Officer of Dream commented: "Our third quarter and year to date results are quite strong, despite headwinds as a result of low oil prices, poor crop quality in Saskatchewan, general political and economic uncertainty and continued lower growth expectations for Canada. We continue to extract the highest and best value from our existing assets and outstanding people in both the near and longer term. We are making progress in achieiving development approvals for our lands in Western Canada, our urban development projects in Toronto and Ottawa are progressing well and we are pleased with the continued success and value creation by our new retail division."
A summary of our results for the three and nine months ended September 30, 2015 is included in the table below.
Key Highlights: Development
Other Advancements & Updates in Western Canada
Asset Management:
Capital Structure & Financing
Select financial operating metrics for the three and nine months ended September 30, 2015 are summarized in the table below.
Other Information
Information appearing in this press release is a select summary of results. The financial statements and MD&A for the Company for the period ended September 30, 2015 are available at and on .
Conference Call
Senior management will host a conference call on November 6, 2015 at 9:oo am. (ET). To access the call, please dial 1-888-465-5079 in Canada and the United States or 416-216-4169 elsewhere and use passcode 6281 674#. To access the conference call via webcast, please go to Dream''s website at and click on the link for News and Events, then click on Calendar of Events. A taped replay of the conference call and the webcast will be available for 90 days.
About Dream Unlimited Corp.
Dream is one of Canada''s leading real estate companies with approximately $15 billion of assets under management in North America and Europe. The scope of the business includes residential land development, housing and condominium development, asset management for three TSX-listed real estate investment trusts and one TSX-listed diversified, hard asset alternatives trust, investments in and management of Canadian renewable energy infrastructure and commercial property ownership. Dream has an established track record for being innovative and for its ability to source, structure and execute on compelling investment opportunities.
Non-IFRS Measures
Dream''s condensed consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS"). In this press release, as a complement to results provided in accordance with IFRS, Dream discloses and discusses certain non-IFRS financial measures, including: internal rate of return (IRR), assets under management, fee earning assets under management anddebt-to-total assets as well as other measures discussed elsewhere in this release. These non-IFRS measures are not defined by IFRS, do not have a standardized meaning and may not be comparable with similar measures presented by other issuers. Dream has presented such non-IFRS measures as Management believes they are relevant measures of our underlying operating performance and debt management. Non-IFRS measures should not be considered as alternatives to comparable metrics determined in accordance with IFRS as indicators of Dream''s performance, liquidity, cash flow, and profitability. For a full description of these measures and, where applicable, a reconciliation to the most directly comparable measure calculated in accordance with IFRS, please refer to the "Non-IFRS Measures" section in Dream''s MD&A for the period ended September 30, 2015.
Forward-Looking Information
This press release may contain forward-looking information within the meaning of applicable securities legislation, including, but not limited to, anticipated lot and developed acres sales results and housing unit occupancies, expected GLA of retail developments, timing of leasing of future retail developments, anticipated sales of condominium units, parking and lockers, the estimated hard construction costs and soft costs associated with the construction of projects including sales and marketing expenses, finance, design and development fees and other direct overhead expenses, development plans of future stages of the Athletes'' Village, timing of land acquisitions in connection with our Zibi development and the timing of Alberta housing occupancies.. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond Dream''s control, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. These assumptions include, but are not limited to: the nature of development lands held and the development potential of such lands, our ability to bring new developments to market, anticipated positive general economic and business conditions, including low unemployment and interest rates, positive net migration, oil and gas commodity prices, our business strategy, including geographic focus, anticipated sales volumes and performance of our underlying business segments. Risks and uncertainties include, but are not limited to, general and local economic and business conditions, employment levels, regulatory risks, mortgage rates and regulations, environmental risks, consumer confidence, seasonality, adverse weather conditions, reliance on key clients and personnel and competition. All forward looking information in this press release speaks as of November 5, 2015. Dream does not undertake to update any such forward looking information whether as a result of new information, future events or otherwise, except as required by law. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR ().
Contacts:
Dream Unlimited Corp.
Michael J. Cooper
Chief Responsible Officer
(416) 365-5145
Dream Unlimited Corp.
Pauline Alimchandani
Chief Financial Officer
(416) 365-5992
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Datum: 05.11.2015 - 16:28 Uhr
Sprache: Deutsch
News-ID 1397366
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