The Becker Milk Company Limited
TSX : Bek.NV.B

September 12, 2005 16:25 ET

The Becker Milk Company Limited: First Quarter Results

TORONTO, ONTARIO--(CCNMatthews - Sept. 12, 2005) - The Becker Milk Company Limited(TSX:Bek.NV.B) -

To Our Shareholders:

We are pleased to report the results for the Three months ending July 31, 2005 from our real estate and investment management business.

Revenue of $ 892,970 for the first three months compares to $ 843,448 for the same period in 2004.

Increases in revenues in the first quarter of fiscal 2006 as compared to the first quarter of last year is attributable to the increase in rental rates, as well as an increase in interest on mortgages on properties sold in fiscal 2005.

The costs in fiscal 2005 were favorably impacted as the result of a one-time realty tax recovery due to the sale of the dairy property.

Net income for the three months ending July 31, 2005 of $ 234,979 ($227,540 in 2004) is equivalent to 13 cents per share (12 cents in 2004).

Management also continues to bring all the properties from which it used to retail gasoline up to The Ministry of Environment's standards as well as dispose of non-strategic locations.

Today the Directors declared a dividend on Class B Special and Common Shares of 30 cents per share to Shareholders of record of September 22,2005 payable on October 3,2005

For the Board of Directors

G.W.J. Pottow, President

Contact Information

  • The Becker Milk Company Limited
    G.W.J. Pottow
    President
    (416) 698-2591