The Becker Milk Company Limited

Three Month Financial Results and Regular Dividend - Seite 2

Changes in net income - Three months ended July 31, 2020
compared to three months ended July 31, 2019
Decrease in current taxes			$267,743
Increase in fair value adjustment				70,000
Decrease in loss on disposal				25,708
Decrease in strategic review expenses				6,472
Increase in finance income				5,205
Decrease in net operating income				(31,617)
Increase in administrative expenses				(48,196)
Decrease in recovery of deferred taxes				(260,654)
Increase in net income			$34,661

ADJUSTED FUNDS FROM OPERATIONS

For the three months ended July 31, 2020 the Company recorded adjusted funds from operations of $242,090 ($0.13 per share) compared to $285,212 ($0.16 per share) in 2019.

	Three months ended
	July 31
		2020			2019
Funds from operations	$242,090			$291,684
Deduct:
Expenses related to strategic review		-			(6,472)
Adjusted funds from operations	$242,090			$285,212
Adjusted funds from operations per share	$0.13			$0.16

STRATEGIC REVIEW