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Freehold Royalties Ltd. (TSX:FRU) reported 2011 fourth quarter results and year-end reserves.
Freehold Royalties Ltd. (TSX:FRU) reported 2011 fourth quarter results and year-end reserves.
As quoted in the press release:
Net income rose 41% in the fourth quarter, due to higher oil prices, despite an increase in deferred income tax as a result of converting from a trust structure to a corporation on December 31, 2010. Non-cash charges included in net income amounted to $22.3 million in the fourth quarter of 2011 (Q4 2010 – $16.9 million) and $75.7 million for the year (2010 – $59.6 million).
Click here to read the Freehold Royalties Ltd. (TSX:FRU) press release.
