Morguard Corporation (OTC) (TSE:MRC) has released an update.
Morguard Corporation reports a solid first quarter in 2024 with a notable increase in normalized funds from operations to $52.6 million, a significant turnaround to $116.8 million net income following a previous net loss, and a rise in real estate revenue. These results come alongside strategic sales of hotel properties and office space, bolstering the company’s liquidity and financial position. Despite a decrease in hotel revenue due to these sales, the overall financial health of the company appears robust.
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