VANCOUVER, BC, June 12, 2026 /CNW/ - Wall Financial Corporation (the "Company") released its operating results and financial statements for the three months ended April 30, 2026. The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the three months ended April 30, 2026 of $4,250,854 or $0.13 per share compared to $5,680,721 or $0.18 per share in the same period of the prior year.  

Stabilized earnings from rental apartment operations decreased slightly from the previous year while earnings from the Company's hotels were stable year over year.  Revenues and earnings from the Company's development operations decreased due to fewer condominium unit sales in the current period.

The above unaudited financial information, including comparative information, is expressed in Canadian dollars and has been prepared in accordance with International Financial Reporting Standards, using the same accounting policies and methods of application as described in notes 3 and 4 of the Company's audited consolidated financial statements for the years ended January 31, 2026 and 2025.   

The Company has restated its comparative columns in the consolidated statements of earnings and comprehensive income, consolidated statements of changes in equity, and consolidated statements of cash flow for the three months ended April 30, 2025.  The Company reassessed the classification and measurement of certain non-controlling interests arising from specific limited partnership agreements.  Based on the review of the contractual terms of the partnership agreements, the Company determined that the affected non-controlling interests did not meet the definition of equity under IAS 32 and were required to be classified as financial liabilities and measured at fair value through profit or loss in accordance with IFRS 9.  Accordingly,  the comparative information has been restated for presentation changes within the consolidated statement of earnings and comprehensive income.  The restatement did not change net earnings and comprehensive income attributable to shareholders of the Company, or cash flows.

Wall Financial Corporation is a B.C. based real estate company active in the development and management of residential and commercial rental units, development and construction of residential housing for resale, and the development and management of hotel properties. For further information, contact Bruno Wall, Chief Executive Officer, WALL FINANCIAL CORPORATION (TSX: WFC), 1010 Burrard Street, Vancouver, British Columbia V6Z 2R9, 604.893.7131.

SOURCE Wall Financial Corporation