08:17 AM EDT, 05/23/2025 (MT Newswires) -- Gulf & Pacific Equities (GUF.V) said Friday that its net loss widened in the first quarter despite an increase in revenue.

The company, which is focused on the acquisition, management and development of anchored shopping centers in western Canada, reported a net and comprehensive loss of $314,792, or $0.01 per share, compared with the year-ago loss of $32,418.

Revenue rose 4.1% to $1.13 million from $1.09 million.

Gulf & Pacific Equities said it has refinanced all six mortgages due this year with new mortgages at a term of one year at fixed rates. Three mortgages will mature on April 1, 2026, at 5.17%, while one mortgage will mature on April 4, 2026, at a rate of 5.18%. One mortgage will mature on April 28, 2026, at a rate of 5.16%, and the remaining mortgage will mature on May 4, 2026, at a rate of 5.13%.