Hampton Financial Corporation Announces 4th Quarter and Full Year Results for 2023

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TORONTO, Dec. 29, 2023 (GLOBE NEWSWIRE) -- Hampton Financial Corporation (“Hampton” or the “Company”, TSXV:HFC) today announced its financial results for the 4^th Quarter and full year ended August 31, 2023.

“The fourth quarter and full year results reflect continued pressures on Revenues and Earnings across our industry that began in the fall of 2022 and continued well into calendar 2023. Capital Markets activity continued to be weak into the fourth quarter, but we are seeing signs of an initial recovery that should be reflected in Q2 of fiscal 2024,” said Hampton Executive Chairman & CEO Peter Deeb.

Fourth Quarter fiscal highlights:

Fourth Quarter ended August 31^st, 2023;

• Q4 Revenues of $1,360,000; a decrease of 42.9% year-over-year
• Q4 Net Losses of ($405,000) or $(0.01) per share;
• Q4 EBITDA of $34,000 vs $50,000 in the comparative quarter last year
  

Full Year fiscal highlights:

Fiscal Year ended August 31^st, 2023;

• FY Revenues of $8,727,000; a decrease of 49.2% year-over-year
• FY Net Losses of ($2,920,000) or $(0.09) per share;
• FY EBITDA of ($1,395,000) vs $2,548,000 for the fiscal year 2022
  

Summary of Corporate Developments:

Our 4^th Quarter and full year results reflect the challenging year that 2023 was for our industry. Rising interest rates and global uncertainty delayed many financings and broader financial decisions on the part of issuers. While 2024 is showing some signs of improvement, the year ahead for our core business remains unclear. That said we intend to move ahead with a number of initiatives to further expand our business portfolio, while growing our existing Wealth Management and Capital Markets businesses. We are hopeful of improvements in Q2 and beyond.

Copies of Hampton’s audited annual financial statements and its Management’s Discussion & Analysis for the fiscal year ended August 31^st, 2023 can be accessed on SEDAR at www.sedar.com.

About Hampton Financial Corporation

Hampton is a unique private equity firm that seeks to build shareholder value through long-term strategic investments.

Through HSL, Hampton is actively engaged in family office, wealth management, institutional services and capital markets activities. HSL is a full-service investment dealer, regulated by IIROC and registered in Alberta, British Columbia, Manitoba, Saskatchewan, Nova Scotia, Northwest Territories, Ontario, and Quebec. In addition, the Company provides investment banking services, which include assisting companies with raising capital, advising on mergers and acquisitions, and aiding issuers in obtaining a listing on recognized securities exchanges in Canada and abroad and HSL’s Corporate Finance Group provides early stage, growing companies the capital, they need to create value for investors. HSL’s Treasury Group works to maximize returns from its balance sheet and strengthen its competitive position as one of Canada’s leading independent financial institutions. HSL continues to develop its Wealth Management, Advisory Team and Principal-Agent programs which offers to the industry’s most experienced wealth managers a unique and flexible operating platform that provides additional freedom, financial support, and tax effectiveness as they build and manage their professional practice.