Chesswood Announces Results for Q1 2015
Income Before Taxes Increases 18% Gross Finance Receivables Exceed $400 million
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/06/15 -- Chesswood Group Limited (the "Company" or "Chesswood") (TSX: CHW), announced today its results for the first quarter of 2015, ended March 31st.
The Company's income before taxes, acquisition expenses, the gain on sale at Case Funding and any unrealized gains was $6.7 million for the quarter, compared to $5.8 million in the first quarter of 2014.
"We're very pleased by the strong start to the year and the fact that we posted these results while also completing the sale of our attorney loans portfolio and the concurrent raising of equity and purchase of Blue Chip Leasing and EcoHome Financial" said Barry Shafran, the Company's President and CEO.
"We enjoyed very strong application flow and originations growth at Pawnee Leasing, our largest business, while our acquisitions of Blue Chip and EcoHome position Chesswood for growth in Canada as well" added Shafran.
Non GAAP Measures
References to Adjusted EBITDA are not recognized measures under International Financial Reporting Standards and do not have standard meanings. Accordingly, these measures may not be comparable to similar measures presented by other issuers.
Please refer to the Company's Management Discussion and Analysis for the three months ended March 31, 2015 for additional information concerning this measure and a reconciliation of this measure to the Company's consolidated net income for the period.
About Chesswood Group Limited
The Company operates primarily in the financial services industry with operating businesses in both Canada and the U.S. To learn more about Chesswood, visit .
The separate websites of Chesswood Group Limited's operating businesses are at , , , and
This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.
Contacts:
Chesswood Group Limited
Barry Shafran
416-386-3099
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Datum: 06.05.2015 - 11:30 Uhr
Sprache: Deutsch
News-ID 391276
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TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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