Mongolia Growth Group Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 22, 2023 at 05:47 pm EST
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Mongolia Growth Group Ltd. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was CAD 0.020114 million. Revenue was CAD 0.74761 million compared to CAD 0.857492 million a year ago. Net income was CAD 7.88 million compared to net loss of CAD 0.344086 million a year ago. Basic earnings per share from continuing operations was CAD 0.23 compared to basic loss per share from continuing operations of CAD 0.01 a year ago. Diluted earnings per share from continuing operations was CAD 0.23 compared to diluted loss per share from continuing operations of CAD 0.01 a year ago. Basic earnings per share was CAD 0.29 compared to basic loss per share of CAD 0.01 a year ago. Diluted earnings per share was CAD 0.29 compared to diluted loss per share of CAD 0.01 a year ago.
For the nine months, sales was CAD 0.072112 million. Revenue was CAD 2.56 million compared to CAD 2.25 million a year ago. Net income was CAD 6.61 million compared to CAD 3.72 million a year ago. Basic earnings per share from continuing operations was CAD 0.18 compared to CAD 0.14 a year ago. Diluted earnings per share from continuing operations was CAD 0.18 compared to CAD 0.14 a year ago. Basic earnings per share was CAD 0.24 compared to CAD 0.14 a year ago. Diluted earnings per share was CAD 0.24 compared to CAD 0.14 a year ago.
Mongolia Growth Group Ltd. is a Canada-based institutional property management platform company. The Company provides a full suite of services including acquisitions, property management, leasing, renovations, and development. Its segments include Investment Property Operations, Corporate, and Subscription Products. Investment Property Operations consist of commercial and residential investment property in Mongolia held for the purposes of rental revenue, capital appreciation or redevelopment. These properties are managed by Big Sky Capital LLC and its subsidiaries. Its services include brokerage-sales and leasing, tenant representation, facilities management, asset management, and real estate consulting. Its subsidiaries include Mongolia (Barbados) Corp., Lemontree PR LLC, MGG US Inc., MGG Properties LLC, Big Sky Capital LLC, Carrollton LLC, Biggie Industries LLC, Zulu LLC, Crescent City LLC, and Oceanus LLC.