TORONTO, ONTARIO–(Marketwired – Sept. 15, 2017) – ABERDEEN INTERNATIONAL INC. (“Aberdeen”, or the “Company”) (TSX:AAB) is pleased to announce that it has released its financial results for the quarter ended July 31, 2017.
- Total revenue of $11.4M, including realized gains on investments of $15.2 million during the six months ended July 31, 2017;
- Net income for the six months ended July 31, 2017 was $9.8 million or $0.11 per basic share;
- Completed sale of remaining 50% shareholdings in PLASA for $5 million cash and 6 million Lithium X Energy shares, which shares were valued at approximately $13 million as at July 31, 2017.
As at July 31, 2017, Aberdeen’s shareholders’ equity and net asset value (“NAV”) was $44.7 million, or $0.50 per share. Given the nature of Aberdeen’s operations, there is currently no difference between “shareholder equity” and “net asset value” for Aberdeen.
|July 31, 2017||January 31, 2017||July 31, 2016|
|Cash on hand||4,896,269||0.060||626,293||0.007||319,206||0.000|
For the three months ended July 31, 2017, Aberdeen reported net earnings of $12.9 million or $0.14 per basic share on total revenue of $14.0 million. Revenue was comprised of $13.9 million from net investment gains and $0.1 million from interest income and advisory fees. For the three months ending July 31, 2016, Aberdeen reported net loss of $0.3 million or $0.00 per basic share on total revenue of $0.8 million ($0.7 million from net investment gains and $0.1 million from interest income and advisory fees).
For the six months ended July 31, 2017, Aberdeen reported net earnings of $9.8 million or $0.11 per basic share on total revenue of $11.4 million. Revenue was comprised of $11.3 million from net investment gains and $0.1 million from interest income and advisory fees. For the six months ending July 31, 2016, Aberdeen reported net earnings of $12.4 million or $0.13 per basic share on total revenue of $14.3 million ($14.1 million from net investment gains and $0.2 million from interest income and advisory fees).
ABOUT ABERDEEN INTERNATIONAL
Aberdeen International is a global resource investment company and merchant bank focused on small capitalization companies in the mining and metals sector.
For additional information, please visit our website at www.aberdeeninternational.ca and follow us on Facebook, Twitter and LinkedIn.
Except for statements of historical fact contained herein, the information in this press release constitutes “forward-looking information” within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as “plans”, “proposes”, “estimates”, “intends”, “expects”, “believes”, “may”, “will” and include without limitation, statements regarding the financial results of Aberdeen; past success as an indicator of future success; net asset value of the Company; the potential of investee companies and the appreciation of their share price; the future intentions of the Company with regard to its investments; the Company’s plan of business operations; and anticipated returns. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, metal prices, competition, financing risks, acquisition risks, risks inherent in the mining industry, and regulatory risks. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Interim President and Chief Executive Officer