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Aimia Swings to Q3 Earnings Year over Year

MT Newswires ·  {{timeTz}}

09:35 AM EST, 11/11/2021 (MT Newswires) -- Aimia Inc. (AIM.TO), a holding company focused on long-term investments, said Thursday that it swung to third-quarter net earnings of $3.5 million, or nil per share, from a year-ago net loss of $10.8 million, or $0.15 per share, beating the forecast loss of $0.07 per share.

Income from continuing operations improved to $7.0 million from a loss of $1.1 million last year while expenses fell to $3.1 million from $8.8 million.

The board declared quarterly dividends of $0.300125 per series 1 preferred share and $0.375688 per series 3 preferred share, payable Dec. 31 to shareholders of record Nov. 18.

Aimia's investments include stakes in PLM Premier, S.A.P.I. de C.V., owner of Club Premier that operates the Aeromexico Frequent Flyer program, advertising firm Clear Media Ltd. and B2b technology company Kognitiv.

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