Canada's Helios Fairfax Partners Q1 profit jumps on gains from Seven Rivers, Trone

First Financial Bankshares Inc
Freedom Holding Corp.

First Financial Bankshares Inc

FFIN

0.00

Freedom Holding Corp.

FRHC

0.00


Overview

  • Canada investment holding firm's Q1 net profit rose sharply yr/yr to $6.3 mln

  • Book value per share grew 1% to $4.27, fifth straight quarterly increase

  • Company began consolidating Helios asset management business, generating $5.9 mln in management fees


Outlook

  • Company did not provide financial guidance


Result Drivers

  • INVESTMENT INCOME - Higher investment income, mainly from fair value gains on Seven Rivers and Trone, drove Q1 results

  • ASSET MANAGEMENT CONSOLIDATION - Consolidation of Helios asset management business contributed $5.9 mln in management fees and $2.9 mln in consulting fees


Company press release: ID:nGNX90jjcp


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Net Income

$6.30 mln


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