VANCOUVER, BC, Sept. 10, 2026 /CNW/ -- Wall Financial Corporation (the "Company") released its operating results and financial statements for the six months ended July 31, 2026. The Company recorded net earnings and comprehensive income attributable to shareholders of the Company for the six months ended July 31, 2026 of $21,572,285 or $0.67 per share compared to $18,307,339 or $0.57 per share in the same period of the prior year. 

Revenue and earnings from the Company's hotels increased due to higher average daily rates. Stabilized earnings from rental apartment operations decreased slightly. 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 and six months ended July 31, 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.

SOURCE Wall Financial Corporation