Madison Pacific Properties Inc.
TSX : MPC

March 24, 2009 16:58 ET

Madison Pacific Properties Inc. (TSX:MPC) Announces 2008 Earnings

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2009) - Madison Pacific Properties Inc. (TSX:MPC), a Vancouver-based real estate company, announces the results of operations for the year ended December 31, 2008.

The Company is reporting gross revenues from continuing operations of $20.3 million for 2008 compared to $19.9 million for 2007. EBITDA from continuing operations is $12.7 million for 2008 compared to $12.0 million for 2007. Net income for 2008 is $3.4 million compared to $5.6 million for 2007. Earnings per share (basic and diluted) from continuing operations are 6 cents per share for 2008 compared to 10 cents per share (basic and diluted) for 2007.

Madison Pacific owns and manages 40 real estate properties comprising 1,607,000 sq. ft. of commercial and industrial space, 99% of which is located in Metro Vancouver.

Contact Information

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