Aberdeen International Reports Q2 Net Income Of $10.9 Million

Aberdeen International (TSX: AAB) this morning released its second quarter financing results. The company reported a total investment gain of $11.5 million for the period ended July 31, 2021, while also recording a significant positive net income.

Investment gains for the quarter consisted of $0.7 million in realized gains on investment, as well well as $10.8 million in unrealized gains. Results were a significant improvement over the first quarter, which saw $3.9 million in total investment gain via $0.2 million in realized gains and $3.8 million in unrealized gains. Results were further boosted by $0.1 million in total other revenues for the quarter.

The company managed to keep expenses low meanwhile, with expenses flat quarter over quarter at $0.7 million. The largest expense consisted of $0.7 million in operating, general and administrative expenses.

The company posted a net and comprehensive income of $10.9 million for the three month period, a significant improvement over the $3.3 million posted in Q1.

In terms of the balance sheet, the company currently has $1.2 million in cash, $18.9 million in public investments, and $29.2 million in private investments. All told, Aberdeen currently has $55.0 million in current assets, while total liabilities sit at $3.1 million.

Aberdeen International last traded at $0.18 on the TSX.

FULL DISCLOSURE: Aberdeen International is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Aberdeen International on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

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