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.
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