Melcor Developments Reports Q3 Results with Decline in Revenue and Funds From Operations
Melcor Developments (TSX: MRD) has released its third-quarter financial results, reporting a revenue of $60.42 million, which represents a 16.7% decrease compared to the same period last year. The company's gross profit also saw a significant decline, falling 24.7% to $27.11 million. Operational performance was impacted as Funds From Operations (FFO) dropped by 27.0% year-over-year to $17.09 million, resulting in an FFO per share of $0.56. These figures indicate a contraction in both top-line revenue and bottom-line operational cash flow compared to the previous year's performance.
Tickers: $MODVF
Topics: earnings report funds from operations gross profit revenue decline
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