Tempus Capital Announces Fourth Quarter and Full Year Results
Burlington, Ontario--(Newsfile Corp. - May 4, 2022) - Tempus Capital Inc. (CSE: TEMP) ("Tempus" or the "Company") is pleased to report its operational and financial results for the fourth quarter and year December 31, 2021. Additional information concerning the Company, including its audited consolidated financial statements and Management Discussion and Analysis, for the year ended December 31, 2021, can be found at SEDAR.
Q4 and Full-Year 2020 FINANCIAL HIGHLIGHTS
- Loss before fair value increment was reduced from $127,539 in 2019 to $28,218.
- Net rental revenue of $727,753 an increase of 22.5% over $594,274 in 2020.
- Fair value increment of $1,039,000 recorded resulting in net income of $688,889 compared to fair value increment of $634,000 and net income of $541,782 for 2020.
- Earnings per share of $0.02 remained the same as 2020.
- Currently at a 100% occupancy rate.
"We are very pleased that Tempus Capital was able to achieve such strong numbers over the last year," said Russell Tanz, Tempus President and CEO. "We had few turnovers in tenants in 2021; however, we were able to rent all our vacancies with increases. In addition, we acquired another commercial property during 2021 which increased our earnings base. As we move forward through 2022, we will continue to build shareholder value through acquisitions and diversification."
Tempus is a real estate operating company engaged in the acquisition, development, and ownership of income-producing properties in Canada, focusing on strip mall shopping centres, storefront retail, and mixed residential and commercial properties. Tempus is a reporting issuer in British Columbia, Ontario and Alberta.
On behalf of the board of directors
Tempus Capital Inc.
President and CEO
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