MCAN Mortgage Corporation Announces Third Quarter Results and 11% Increase in Net Income

Stock market symbolTSX: MKP TORONTO, Nov. 8, 2018 /CNW/ – MCAN Mortgage Corporation (“MCAN”, the “Company” or “we”) announced net income of $11.0 million ($0.47 per share) for the third quarter ended September 30, 2018, up 11% from $9.9 million ($0.42 per share) in the third quarter of 2017.  Highlights Financial Performance Q3 2018 Return on average shareholders’ equity was 14.29% in Q3 2018 compared to 13.63% in Q3 2017. Operating expenses decreased significantly from Q3 2017 as a result of a reduction in variable compensation accruals and a non-recurring reimbursement of previously incurred and accrued legal expenses. Year to Date ...

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