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Message: Gulf & Pacific Equities Corp. Reports on 2008 Year End Results
| April 28, 2009 | |
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Gulf & Pacific Equities Corp. Reports on 2008 Year End Results
2.3% Revenue Decrease in 2008 with FFO of $0.08 per Share |
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TORONTO, ONTARIO--(Marketwire - April 28, 2009) - NOT FOR DISTRIBUTION TO U.S. WIRE SERVICES OR FOR DISTRIBUTION INTO THE UNITED STATES Gulf & Pacific Equities Corp. (TSX VENTURE:GUF) an established company focused on the acquisition, management and development of grocery store anchored shopping centres in Western Canada, reports a 2.3% decrease in revenues to $4,388,561 in 2008 from $4,490,005 in 2007. In addition, Funds From Operations ("FFO") were $675,896 or $0.08 per share for the year ended December 31st, 2008 compared to $543,268 or $0.07 per share in 2007. Details of the three and twelve months financial results for fiscal 2008 and 2007 are summarized below and are also available at www.sedar.com or at the company's website www.gpequities.com. Year Ended Three Months Ended
(Audited) (Unaudited)
December 31, December 31,
2008 2007 2008 2007
----------------------- -----------------------
Revenue $ 4,388,561 $ 4,490,005 $ 866,131 $ 1,140,880
Income (Loss) for the period (615,512) (385,827) (424,539) 50,186
Earnings (Loss) per common
share - basic and diluted (0.07) (0.05) (0.05) 0.01
Funds from operations for
the period 675,896 543,268 211,939 125,161
Funds from operations per
common share - basic and
diluted 0.08 0.07 0.02 0.01
Weighted average number of
common shares outstanding
during the period
- basic and diluted 8,749,342 8,346,715 8,854,096 8,644,674
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