News Releases
Innovative Properties Inc. - Financial results for year ended
October 31, 2007
HALIFAX, Feb. 29 /CNW/
- Innovative Properties Inc. (the "Corporation") (TSX-V: INR) is
pleased to announce its financial results for the year ended October
31, 2007. The Corporation reported revenue of $2,392,788 compared
to revenue of $1,409,185 for the year ended October 31, 2006. The
Corporation reported net income of $150,803 compared to a loss of
$259,528 for the year ended October 31, 2006 resulting in earnings
per share of $0.02 compared to a loss of $0.02 per share for the
year ended October 31, 2006. Results include losses from discontinued
operations of $40,276 compared to losses from discontinued operations
of $18,348 for the year ended October 31, 2006. These results reflect
the Corporation's fiscal 2007 strategy to dispose of existing real
estate assets which is now complete and to position the Corporation
for future growth and operations in the real estate sector. For
a complete 2007 MD&A and financial statements, please refer
to www.sedar.com.
For further information: Head Office: Gordon Neal, Secretary, (902)463-2639,
Fax: (902) 463-9897, info@innovativeproperties.com;
www.innovativeproperties.com
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