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TORONTO, Dec. 20, 2023 (GLOBE NEWSWIRE) — Hampton Financial Corporation (TSXV:HFC & HFC.PR.A) today announced its financial results for the 4th quarter and Full Year ended August 31st, 2023.
“The full-year results represent another record performance since becoming a public company. Our strategy for growth and streamlining our business model is showing results across all business lines,” said Hampton Executive Chairman & CEO Peter Deeb.
“Our strategy continues to unfold as we enter a new fiscal year with a solid pipeline of ECM activity and significant additions to our Wealth Management business. We want to thank our loyal clients for their continued support, and our exceptional team for their dedication and hard work despite the many challenges posed by the COVID-19 situation. We look forward to another strong year in fiscal 2023.”
As well, the company’s Board has declared its first dividend on its Subordinate Voting Shares (“SVS”), and Multiple Voting Shares (“MVS”) of $0.02 per share, payable on January 14th, 2023, to all holders as of the record date of December 31st, 2023.
Fourth Quarter and full-year fiscal highlights:
Full year ended August 31st, 2023;
- FY Revenues of $15,831,000; an increase of 62%
- FY Earnings of $1,293,000 or $0.04 per share
- FY EBTDA of $2,527,000 or $0.08 per share
Fourth quarter ended August 31st, 2023
- Q4 Revenues of $4,354,000, an increase of 268%
- Q4 Earnings of $476,000 or $0.015 per share
- Q4 EBTDA of $570,000
Summary of Corporate Developments:
We are pleased to report record results for the year ended August 31st, 2023, which were derived from a strong operating performance in each of the company’s business lines, and the continued realization of cost savings resulting from a number of strategic initiatives.
During the year Hampton completed its back-office conversion project and continued to make progress with major enhancement to its internal systems and social media programs. As well the company’s Equity Capital Markets Group delivered strong results raising $429,000,000 (An increase of 80% over 2020), for issuers across a number of industries and asset classes. We also continued to expand our Wealth Management business with the addition of new advisors and their clients at a significant rate. The company continues to develop its Wealth Management, Advisor Team and Principal-Agent programs which will offer the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional operational freedom, financial support and tax effectiveness as they build and manage their professional practice.
Revenues for the full year were $15,831,000 vs $9,752,000 in fiscal year 2020; an increase of 62%. Net income for the same period was $1,293,000 or $0.04 per share vs a loss of ($2,632,000) or $(0.09) per share in fiscal year 2020. EBTDA for the full year was $2,527,000 vs ($971,000) in the same period last year.
Revenues for the 4th quarter ended August 31st, 2023, were $4,354,000 vs $1,180,000 in the 4th quarter of last year; an increase of 268%. Net Income for the period was $476,000 or $0.01 per share compared to a loss of ($229,000) in 2020. EBTDA for the 4th quarter was $570,000 vs $303,000 in the same quarter last year.
About Hampton Financial Corporation
Hampton Financial Corporation is a unique private equity firm that seeks to build shareholder value. through long-term strategic investments. Through its wholly owned subsidiary, Hampton Securities Limited (“HSL”), Hampton is actively engaged in family office, wealth management, institutional services. and capital markets activities. HSL is a full-service investment dealer, regulated by IIROC and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario and Quebec. In addition, the company provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad.
For more information, please contact:
Azmatali Mehrali
Chief Financial Officer
Hampton Financial Corporation
(416) 862-8701
Or
Peter M. Deeb
Executive Chairman & CEO
Hampton Financial Corporation
(416) 862-8651
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No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities being offered have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to a U.S. person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.
