Pinetree Capital Reports on its Current Unaudited Financial Results

Pinetree Capital Ltd. (TSX:PNP) announced that it has received its unaudited financial results for the three and nine month period ended September, 30 2012. There was a 25% decrease in investments since December 2011.

As quoted in the press release:

During the third quarter of 2012, Pinetree had a net profit of $23 million, as compared to a net loss of $136 million for the same quarter last year. Net profit generated was primarily the result of net investment gains of $26 million in the quarter, comprised of $49 million in unrealized gains on investments and realized losses on dispositions of investments of $23 million. Earnings per share was $0.17, as compared to loss per share of $1.00 per share in the three months ended September 30, 2011.

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