TORONTO, Aug. 09, 2022 (GLOBE NEWSWIRE) — Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX FC, FC.DB.F, FC.DB.G, FC.DB.H, FC.DB.I, FC.DB.J, FC.DB.K and FC.DB.L) released its financial statements for the three and six months ended June 30, 2022.
For the three months ended June 30, 2022, net income increased by 11.6% to $8,237,900 as compared to $7,378,455 reported for the same period in 2021. Income for the six months ended June 30, 2022, increased by 9.6% to $16,099,440 as compared to $14,685,291 for the six months ended June 30,2022. During the six months ended June 30, 2022, the increase in income is predominantly a result of higher interest income due to a larger average investment portfolio size (on average $104 million higher over a similar period in 2021), partially offset by an increase in interest expense.
EARNINGS PER SHARE