Q: Your comments please on the earnings release of OLY. Thanks.
5i Research Answer:
OLY reported total net earnings and comprehensive income increasing 1% to $6.28M. Total revenue decreased 1% to $25.19M from $25.45M in the year prior. Service revenue decreased 5% to $11.50M from $12.07 million, mainly due to the decrease in trading volumes in the CGP division. Trust, interest, and other income increased 2% to $13.69M, due to higher interest rates on trust fund placements. Basic and diluted EPS increased 1% to $2.61 per share. Nothing overly significant good or bad for OLY. We continue to think it is a high quality dividend payer offering almost a 7% yield at 11x forward earnings.