The Becker Milk Company Limited

Six Month Financial Results

TORONTO, Dec. 10, 2020 (GLOBE NEWSWIRE) -- The Becker Milk Company Limited (the “Company”) (TSX-BEK.B) is pleased to report the results for the six months ended October 31, 2020.

HIGHLIGHTS

• Total revenues for the six months ended October 31, 2020 were $1,524,336 compared to $1,618,664 for the same period in 2019;
• Net operating income for Q2 fiscal 2021 was $1,296,169 compared to $1,328,088 in fiscal 2020;
• Net income for Q2 fiscal 2021 was $ 0.23 per share, compared to $0.25 per share in fiscal 2020.

FINANCIAL HIGHLIGHTS

Net operating income for the six months ended October 31, 2020 was $1,296,169, a $31,919 decrease compared with the previous year as a result of decreased revenue for the quarter.

	Six months ended
	October 31
	2020	2019
Property revenue	$1,478,222	$1,546,575
Finance income	46,114	72,089
Total revenues	$1,524,336	$1,618,664
Property revenue	$1,478,222	$1,546,575
Property operating expenses	(182,053)	(218,487)
Net operating income	$1,296,169	$1,328,088
Adjusted funds from operations	$475,292	$610,365
Net income attributable to common and special shareholders	$416,983	$447,900
Average common and special shares outstanding	1,808,360	1,808,360
Income per share	$0.23	$0.25

Components of the $30,917 decrease in net income for the six months ended October 31, 2020 compared to the six months ended October 31, 2019 are: