Aberdeen International (TSX: AAB) this morning released its first quarter financial results. The company reported total revenue of $4.0 million, along with a net income of $3.3 million for the three month period ended April 30, 2021.
Revenue during the quarter was comprised of $3.9 million from net investment gains, while $0.1 million came from interest income. Revenue was up significantly from the year ago period, wherein the company reported revenues of $1.8 million, with a net income of $1.6 million.
Expenses during the quarter meanwhile amounted to $0.7 million, comprised largely of operating, general and administrative expenses. The company as a result posted a net income of $3.3 million for the three month period.
Looking to the balance sheet, the company has seen notable improvements in its assets. While public investments fell from $10.6 million to $9.2 million, the company saw its private investments rise in value from $17.7 million to $27.2 million. The rise in value follows the successful Nasdaq IPO of Flora Growth Corp. The company also saw success in its recent investment in AMMPower Corp, as well as a rise in value of Brazil Potash.
The company also indicated this morning that it remains focused on clean energy, with a focus on the hydrogen space.
Aberdeen International last traded at $0.265 on the TSX.
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