Dundee Corporation Reports 2015 Fourth Quarter and Full Year Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 03/30/16 -- Dundee Corporation (TSX: DC.A) (the "Corporation" or "Dundee") is reporting its financial results for the three months and full year ended December 31, 2015. The net loss for the fourth quarter of 2015 attributable to shareholders was $55 million or a loss of $0.97 per share, compared with a net loss of $178 million or $3.20 per share incurred during the same period of the prior year. On a year-to-date basis, the net loss attributable to shareholders was $459 million or $7.99 per share, compared with a net loss of $318 million or $5.93 per share for the prior year.
"Last year was a challenging one for our company. Nevertheless, we have taken steps to improve liquidity, lower our costs and develop our wealth management business," said David Goodman, Chief Executive Officer of the Corporation.
FINANCIAL RESULTS
OPERATIONAL ACHIEVEMENTS
CORPORATE VISION AND STRATEGIC DIRECTION
Dundee's strategy to create long-term value for stakeholders is being driven through the establishment of a wealth management business focused on the high-net-worth and ultra-high-net-worth markets, supported by top quality investment products, and managed by a team of experienced portfolio managers. In parallel with its wealth management vision, the Corporation has taken steps to rationalize its merchant capital portfolio, focusing on those investments that the Corporation considers core to its expertise and aligned to its objectives of sustainable growth and value for shareholders.
The Corporation believes that over time, the successful execution of the wealth management strategy will help generate more regular and predictable cash flows. It is anticipated that future cash flows in the wealth management business will come from a combination of asset management and performance based fees. The Corporation also believes it has taken important steps to address issues with entities within its merchant capital portfolio in order to help ensure they are well positioned for a future recovery in commodity prices.
The Corporation's 2015 audited consolidated financial statements, along with the accompanying management's discussion and analysis have been filed on the System for Electronic Document Analysis and Retrieval ("SEDAR") and may be viewed by interested parties under the Corporation's profile at or the Corporation's website at .
ABOUT DUNDEE CORPORATION
Dundee Corporation is a public Canadian independent holding company, listed on the Toronto Stock Exchange under the symbol "DC.A". Through its operating subsidiaries, Dundee Corporation is engaged in diverse business activities in the areas of investment advisory, corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee Corporation also holds, directly and indirectly, a portfolio of investments mostly in these key areas, as well as other select investments in both publicly listed and private enterprises.
Contacts:
John Vincic
Media Relations
Dundee Corporation
(647) 402-6375
Lucie Presot
Executive Vice President and
Chief Financial Officer
Dundee Corporation
(416) 365-5157
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Datum: 30.03.2016 - 23:13 Uhr
Sprache: Deutsch
News-ID 460822
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TORONTO, ONTARIO
Kategorie:
Personal Finance
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