Pinetree Capital announces unaudited financial results

Pinetree Capital Ltd.(TSX:PNP) today announced the company’s unaudited financial results for the three and nine months ended September 30, 2009.

The press release is quoted as saying:

During the third quarter, Pinetree generated net income of $63.8 million, as compared to a net loss of $210.9 million for the same quarter last year. The net income was primarily from net investment gains of $69.5 million in the quarter, comprised mainly of $74.2 million in unrealized gains on investments partially offset by realized losses on dispositions of investments of $5.4 million.

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