04:52 PM EDT, 08/02/2024 (MT Newswires) -- TWC Enterprises Limited ( CLKXF ) , which is engaged in golf club operations, said after trade Friday that earnings for the second quarter were down due to losses on its investment in a property entity.

It reported second quarter 2024 net earnings of $3.159 million for the three month period ended June 30, 2024, was down from $8.114 million a year earlier due to the unrealized loss in the amount of $5.119 million on the company's investment in Automotive Properties REIT (APR-UN.TO) recorded in 2024.

Basic and diluted earnings per share were $0.13, compared to $0.33 for Q2 2023.

Operating revenue for Q2 2024 was $62.183 million, down from last year's Q2 of $64.653 million, a decrease of 3.8% due to the decline in real estate revenue from seven Highland Gate home sales compared to eight in 2023..

The company announced an eligible cash dividend of $0.075 cents per common share to be paid on Sept. 16, 2024 to shareholders of record as at Aug. 30, 2024.

TWC was unchanged at $17.23 today.