Madison Pacific Properties Inc.
TSX : MPC

March 30, 2007 13:12 ET

Madison Pacific Properties Inc. (TSX:MPC) Announces 2006 Earnings

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2007) - Madison Pacific Properties Inc. (TSX:MPC), a Vancouver-based real estate company, announces the results of operations for the year ended December 31, 2006.

The Company is reporting 2006 net income of $18.0 million compared to net income of $ 4.0 million for 2005. Gross revenues from continuing operations are $ 18.9 million for 2006 compared to $18.3 million for 2005. Earnings per share from continuing and discontinued operations are 35 cents per share for 2006 compared to 8 cents per share for 2005.

Madison Pacific owns and manages 37 real estate properties comprising 1,492,000 sq. ft. of commercial and industrial space, 99% of which is located on the Vancouver Lower Mainland.

The Annual general Meeting of Madison Pacific Properties Inc. will be held 2:00 pm June 28, 2007 at the Terminal City Club 837 West Hastings Street, Vancouver, B.C.

Contact Information

  • Madison Pacific Properties Inc.
    Mr. Alan Firth
    President & CEO
    (604) 732-6540
    or
    Madison Pacific Properties Inc.
    Mr. Thor Olsen
    Chief Financial Officer
    (604) 732-6540
    (604) 732-6550 (FAX)
    Email: reception@madisonpacific.ca