Pinetree Capital Ltd Announces Unaudited Financial Results for Q2 2024

TORONTO, ON / ACCESSWIRE / July 25, 2024 / Pinetree Capital Ltd. (TSX:PNP) today released its financial results for the quarter ended June 30, 2024. All figures are unaudited and in thousands of dollars, except per share amounts.

As of June 30, 2024, total assets were $55,871 compared to $45,749 as of December 31, 2023. Total liabilities were $356, down from $377. This increase in assets resulted in a book value per share (BVPS) rising to $5.91 from $4.83, marking a 22% increase.

Equity investments at fair value totaled $50,428, representing 91% of book value. This compares to $38,428 or 85% at the end of December 2023. Quarterly expenses were $159, with annual expenses at 1.2% of book value, down from 2.6% the previous year.

The company reported a net investment loss of $980 for Q2 2024, compared to a gain of $3,160 in Q2 2023. Other income was $173, slightly higher than the $163 reported last year. Net loss for the period was $970, translating to a loss of $0.10 per share.