07:48 AM EDT, 04/29/2025 (MT Newswires) -- Halmont Properties (HMT.V) overnight Monday reported decreased profit for the year ended Dec. 31, even as revenue increased.

The company reported net income for 2024 of $18.39 million, or diluted net income per common share of $0.1252, compared with $18.49 million, or diluted net income per common share of $0.1269, a year earlier. Revenue increased to $32.02 million compared with $27.97 million in 2023.

Halmont expanded its investments in forest properties by subscribing for an additional $21.7 million in participating preferred shares of Haliburton Forest, increasing its effective ownership to 59%. The company also completed the issuance of $50 million of series II convertible preferred shares.