07:01 AM EDT, 06/17/2024 (MT Newswires) -- Wall Financial ( WFICF ) , a British Columbia-based real estate company, over the weekend reported higher profit in the first quarter amid an increase in revenue from the rental apartment operations and the company's hotels.

The company reported fiscal first-quarter net earnings and comprehensive income attributable to shareholders of $3.4 million, or $0.10 per share, up from $2.7 million, or $0.08 per share, in the year-ago period.

Total revenue and other income for the quarter ended April 30 was $36.2 million, up from $32.5 million a year earlier.

Revenue and income from the rental apartment operations increased due to acquisitions of investment properties in the prior year, a decrease in vacancy rates, and increased rents on tenant turnover. Revenues and earnings from the company's hotels increased due to higher average daily rates.

Capital IQ analyst estimates were not available.