Dundee Corporation Reports Second Quarter 2016 Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 08/09/16 -- Dundee Corporation (TSX: DC.A) (the "Corporation" or "Dundee") is reporting its financial results for the three months ended June 30, 2016. The net loss for the second quarter of 2016 attributable to shareholders was $12.7 million or a loss of $0.25 per share, compared with a net loss of $141.3 million or $2.44 per share incurred during the second quarter of the prior year.
"During the second quarter, our operating performance benefited from an increase in commodity-based metal prices, which contributed to a $52.2 million increase in the value of some of our portfolio holdings," said David Goodman, Chief Executive Officer of the Corporation. "In particular, our investment in Dundee Precious Metals Inc. performed very well, increasing in value by over $35.1 million in this period.
"Our business is moving through a period of transition as we focus on the ongoing optimization and rationalization of our investment portfolio. In the previous quarter, we continued to divest of investments that we believed were non-core to our ongoing strategy, with proceeds redeployed to certain key investments, including the Parq casino and resort project in Vancouver," said Mr. Goodman.
FINANCIAL RESULTS
OPERATIONAL ACHIEVEMENTS
SHAREHOLDERS'' EQUITY ON A PER SHARE BASIS
SECOND QUARTER 2016 CONFERENCE CALL AND WEBCAST DETAILS
The Corporation''s unaudited condensed interim consolidated financial statements, along with the accompanying management''s discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed by interested parties under the Corporation''s profile at or the Corporation''s website at .
The Corporation will host a conference call and webcast to discuss its second quarter 2016 financial results. The details for the event are as follows:
The conference call will be archived for replay until Wednesday, August 17, 2016 at midnight. To access the archived conference call, please dial 1.855.859.2056 or 1.416.849.0833 and enter the encore code 11550073. An archive of the audio webcast will also be posted to Dundee Corporation''s website.
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol "DC.A". Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects Dundee Corporation''s current expectations regarding future events. 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 Dundee Corporation''s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the 2015 Annual Information Form of Dundee Corporation and subsequent filings made with securities commissions in Canada. Dundee Corporation does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Contacts:
Dundee Corporation
John Vincic
Media Relations
(647) 402-6375
Dundee Corporation
Lucie Presot
Executive Vice President and Chief Financial Officer
(416) 365-5157
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Datum: 09.08.2016 - 17:05 Uhr
Sprache: Deutsch
News-ID 1451652
Anzahl Zeichen: 3533
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TORONTO, ONTARIO
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Personal Finance
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