Canada's Clairvest Q4 net income rises on investment realizations, portfolio gains

Clairvest

Yesterday 24:07

Overview
Canada private equity manager's fiscal Q4 net income rose on investment realizations and portfolio gains
Fiscal Q4 book value per share increased 10.5% yr/yr, inclusive of dividends
Company completed Acera Insurance sale and, after year end, Star Waste sale for strong returns

Outlook
Clairvest did not provide specific financial guidance for the current quarter or full year

Result Drivers
PORTFOLIO REALIZATIONS - Net income rose due to gains from the sale of Acera Insurance and agreed sale of Star Waste
FAIR VALUE GAINS - Increase in fair value of other portfolio companies and foreign exchange revaluations contributed to quarterly results
HEAD DIGITAL WORKS LOSS - Results were partly offset by a realized loss related to Head Digital Works earlier in the year

Company press release: ID:nGNX9SnWR

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
 
C$4.56
 
Q4 Net Income
 
C$62.35 mln

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)