Bridgemarq Real Estate Services Reports Second Quarter Results and Monthly Dividend

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TORONTO, Aug. 10, 2021 /CNW/ – Bridgemarq Real Estate Services Inc. (“Bridgemarq” or the “Company”) (TSX: BRE) announced today its second quarter consolidated financial results and the approval of a monthly dividend to holders of the Company’s restricted voting shares.

HIGHLIGHTS

  • Revenue in the second quarter was $14.0 million, an increase of 22% over the same period in 2020. Strong housing markets compared to a pandemic-impacted 2020 second quarter and an increase in the number of REALTORS® in the Company network contributed to the increase.

  • Net earnings for the quarter were $0.9 million or $0.10 per share, on a fully-diluted basis compared to a loss of $9.2 million in the second quarter of 2020. The results for the quarter reflect a loss on the fair valuation of the exchangeable units of $2.5 million, compared to a loss of $7.9 million last year.

  • Distributable Cash Flow improved to $6.4 million, an increase of 73% over the same period in the second…

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