Bridgemarq Real Estate Services® Reports Annual Financial Results [Yahoo! Finance]
Brookfield Business Partners L.P. Limited Partnership Units (BBU)
Last brookfield business partners l.p. limited partnership units earnings: 2/6 06:45 am
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Source: Yahoo! Finance
HIGHLIGHTS Revenue for 2023 was $48.5 million compared to $49.9 million the prior year, due to weakness in the Canadian market, as the overall value of Canadian residential real estate transactions dropped 14% compared to 2022. The Company recorded net earnings of $4.0 million or per share in 2023, on a fully diluted basis, compared to $21.0 million or per share in 2022, as a result of a loss of $1.1 million on the valuation of the Exchangeable Units compared to an $11.5 million gain in 2022. Cash provided by operating activities amounted to $13.7 million in 2023 compared to $15.6 million in 2022, as weaker markets and higher administration expenses negatively affected cash flow. Bridgemarq received shareholder approval on March 25, 2024 , to proceed with the acquisition of certain real estate brokerage operations owned by Brookfield Business Partners and to internalize the management of the Company. The Board has approved the appointments of Spencer Enright to CEO of the C
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