More good news!!!
ST. GENEVIEVE RESOURCES LTD. REPORTS NET INCOME OF $19.2
MILLION IN 1996 FINANCIAL YEAR, DOUBLE PREVIOUS RESULTS
MONTREAL, April 29 /CNW/ - St. Genevieve Resources Ltd.
reported today a net consolidated income of $19.2 million for
the financial year ended December 31, 1996, compared with $9.4
million the preceding year. Net income per share on a fully
diluted basis was 29 cents in 1996, compared with 17 cents the
preceding year. Total revenues amounted to $30.3 million, up
$13.8 million over 1995.
The $9.8 million increase in net consolidated income
results from an additional $13.8 million in revenues, while
expenses were higher by $4 million. Revenues in 1996 include a
$10.3 million gain ($8.8 million in 1995) on disposal of
investment and a $16.8 million gain ($4 million in 1995) from
merchant banking activities.
St. Genevieve consolidated its investment and management
expertise in the areas of gold and other commercial ores,
diamonds, and oil and gas. As part of its focus on
core-business activities, the Company sold its interests in a
mine-tailing reclamation concern.
The ability to focus on specific commodity areas
underscored the breadth and depth of the expertise and
resource capabilities available within the St. Genevieve
Group,'' said Pierre R. Gauthier, Chairman of the Board. In
addition to contributing to our bottom line in 1996, the
consolidation strengthened St. Genevieve's ability to assess
situations and act adroitly to capture opportunities in
emerging nations and elsewhere.''
St. Genevieve identifies and develops mineral properties
in distinct commodity groups throughout the world, assessing
the geopolitical opportunities for payback and managing risk
by acquiring strategic investment positions in selected
companies. The mining exploration company is based in
Montreal.
News releases are available on Internet at
sgv.com
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/For further information: Pierre T. Laflamme, (514)
866-6001 or Paul Piazza, (416) 869-0626 or Mary Peschka, (416)
869-0626/ |
