VANCOUVER, BC


,


June 14, 2022


/CNW/ – Wall Financial Corporation (the “Company”) released its operating results and financial statements for the three months ended

April 30, 2022

.  The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the three months ended

April 30, 2022

of

$29,999,525

or

$0.92

per share compared to

$6,331,468

or

$0.19

per share in the prior period.  This increase in net earnings compared to prior period was primarily due to the sale of an investment property.

Revenue from the Company’s hotel operations continue to improve.

Revenue and income from the rental apartment operations remain stable and revenues from the development operations decreased from the prior period due to the closing of 81 condominium units in the prior period.

The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described in notes 2 and 3 of the Company’s audited consolidated financial statements for the years ended

January 31, 2022

and 2021.

Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties.

SOURCE Wall Financial Corporation

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