The audited financial statements and notes, as well as management's discussion and analysis, are now available on SEDAR (www.sedar.com).
Highlights for the year ending
Results from Continuing Operations
When compared to the year ending
-- Total revenue, including interest earned as trustee and interest, increased 15% to
$35.28 millionfrom $30.65 million. -- Interest earned as trustee on monies held in trust and interest on Olympia'sown cash increased 24% to $4.67 millionfrom $3.78 million. -- Direct and administrative expenses (excluding depreciation and amortization) increased 13% to $27.44 millionfrom $24.26 million. -- Earnings before income tax increased 25% to $7.07 millionfrom $5.66 million.
Results from Discontinued Operations
December 12, 2013, Olympiaannounced that it had completed the sale of its Corporate and Shareholder Services ("CSS") division for $43 millionplus applicable taxes, subject to certain post-closing adjustments. As such the results of the CSS division are now considered discontinued operations. -- Net earnings and comprehensive income from discontinued operations increased significantly to $31.30 millionfrom $1.62 millionwhen compared to the year ended December 31, 2012. The increase is attributable to the gain on sale of the CSS division.
OFGI's common shares are listed on the
FOR FURTHER INFORMATION PLEASE CONTACT:
Olympia Financial Group Inc. Rick SkaugePresident and Chief Executive Officer (403) 261-0900 (403) 265-1455 (FAX) Olympia Financial Group Inc. Gerhard BarnardVice-President, Finance and Chief Financial Officer (403) 261-0900 (403) 265-1455 (FAX) Source: Olympia Financial Group Inc.