Company Announcements

VANCOUVER, BC , April 24, 2026 /CNW/ - Wall Financial Corporation (the "Company") released its operating results and financial statements for the three months and year ended January 31, 2026.  The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the year ended January 31, 2026 of $33,315,350 or $1.04 per share compared to $27,405,502 or $0.85 per share in the prior year.  

Revenue and income from the rental apartment operations decreased compared to the prior year due a commercial tenant vacating the building in the prior year on the commencement of demolition and excavation for a new building.   Earnings from the Company's hotels increased due to lower operating costs. 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 the comparative information included in these consolidated financial statements as at  January 31, 2025 and February 1, 2024 and for the year ended January 31, 2025.

During the preparation of the financial statements for the year ended January 31, 2026, management reassessed the classification and measurement of certain non‑controlling interests arising from specific limited partnership arrangements. Based on a review of the contractual terms of the partnership agreements, management determined that, for the comparative periods presented, 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 to correct the reclassification of these balances from non‑controlling interests within equity to non‑current financial liabilities, together with related presentation changes within the consolidated statement of earnings and comprehensive income.

The restatement impacted the classification of balances in the consolidated statements of financial position as at February 1, 2024 and January 31, 2025, and the presentation of amounts in the consolidated statement of earnings and comprehensive income for the year ended January 31, 2025. The restatement did not impact total assets, equity attributable to shareholders, 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