Pinetree Capital Ltd Announces Audited Financial Results For The Year Ended December 31, 2023

Pinetree Capital Ltd. (TSX:PNP), based in Toronto, disclosed its financial outcomes for the fiscal year concluding on December 31, 2023. The company reported that its total assets increased to $45,749 from $40,062 the previous year, with liabilities slightly decreasing from $443 to $377. Pinetree's equity experienced a rise to $45,372 from $39,619, marking a significant 15% increase in its book value per share (BVPS) from $4.22 to $4.83.

The company maintained its shares outstanding at 9,387,000 throughout the year. Investments held at fair value represented a major portion of the company’s assets, amounting to $43,448 or 96% of the book value, indicating a growth in investment efficiency compared to the previous year’s 86%.

For the year, total expenses decreased to $896, which represents 1.9% of the book value, signifying a reduction in cost from 2.9% in the prior year. Pinetree reported net investment gains of $6,055 and a net income of $5,753, translating into earnings of $0.61 per share, a substantial improvement from $0.13 per share in 2022.

This financial report reflects Pinetree’s continuous growth and operational efficiency, with a stable number of shares outstanding and a significant enhancement in equity and net income.