Canaf Announces Financial Results for Q2 2024

Rhea-AI Summary

Canaf Investments Inc. (TSXV: CAF) reported its financial results for Q2 2024. For the six months ending April 30, 2024, the company recorded a revenue of CAN$15.82 million, up from CAN$12.98 million in the same period in 2023. Net income increased to CAN$780,406 from CAN$733,008 in the previous year. The 12-month trailing earnings per share as of April 30, 2024, were CAN$0.048 per share. Shareholder equity stood at CAN$10.1 million, equating to a book value of CAN$0.213 per share, up from CAN$0.16 per share in the previous year. For more details, visit the company's financial statements and MD&A at www.sedarplus.ca or www.canafinvestments.com.

Positive

• Revenue increased to CAN$15.82 million, up from CAN$12.98 million in the same period in 2023.
• Net income rose to CAN$780,406 compared to CAN$733,008 in 2023.
• 12-month trailing earnings per share were CAN$0.048 as of April 30, 2024.
• Shareholder equity increased to CAN$10.1 million, resulting in a book value per share of CAN$0.213, up from CAN$0.16.

Negative

• None.

Vancouver, British Columbia--(Newsfile Corp. - June 25, 2024) - Canaf Investments Inc. (TSXV: CAF), ("Canaf" or "the Corporation"), is pleased to announce the release of its Financial Statements, and Management Discussion and Analysis for the 6-month period ended April 30, 2024.

Revenue for the 6-month period was recorded at CAN$15,819,050 (2023: CAN$12,975,798) with a net income of CAN$780,406 (2023: CAN$733,008). The results reflect a 12-month trailing earnings per share at 30 April 2024 of CAN$0.048/share. As at April 30, 2024 shareholder equity stood at CAN$10.1m, which relates to a book value per share of CAN$0.213/share (April 30, 2023: CAN$0.16/share).

For more details and discussion on the results, the Financial Statements and Management Discussion and Analysis can be viewed on www.sedarplus.ca or the Company's website, www.canafinvestments.com.

About Canaf

Canaf is a public company listed on the TSX-V Exchange. Canaf's registered office is in Vancouver, Canada, with offices in the United Kingdom and South Africa. Canaf owns 100% of Quantum Screening and Crushing (Pty) Ltd., ("Quantum"), a South African company that owns 70% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised (calcined) anthracite. Canaf also owns 100% of Canaf Investments (Pty) Ltd., a South African company that owns 100% of Canaf Estate Holdings (Pty) Ltd., a real estate investment company focused on suburban property in Johannesburg.

Forward-Looking Statements

Certain information regarding Canaf contained herein may constitute forward-looking statements. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Canaf believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. These statements are subject to certain risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in the forward-looking statements. Canaf is under no obligation to update or alter any forward-looking statement. These risks include operational, political, currency and geological risks and the ability of Canaf to raise or obtain funds for its operations. Canaf's forward-looking statements are expressly qualified in their entirety by this cautionary statement.

UK Office

Christopher Way
Canaf Investments Inc.
E: info@canafinvestments.com
W: www.canafinvestments.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214226

FAQ

What were Canaf's revenues for Q2 2024?

Canaf's revenues for Q2 2024 were CAN$15.82 million.

What was Canaf's net income for the six months ending April 30, 2024?

Canaf's net income for the six months ending April 30, 2024, was CAN$780,406.

What is Canaf's earnings per share for the trailing 12 months as of April 30, 2024?

Canaf's earnings per share for the trailing 12 months as of April 30, 2024, were CAN$0.048.

What is Canaf's book value per share as of April 30, 2024?

Canaf's book value per share as of April 30, 2024, is CAN$0.213.

How much did Canaf's revenues increase from the same period in 2023?

Canaf's revenues increased from CAN$12.98 million in 2023 to CAN$15.82 million in Q2 2024.