Alico Inc. sees strong first quarter with sale of real estate

Fort Myers-based grower and land manager Alico saw its first-quarter profits soar.

Loading...

Load Error

In its fiscal quarter ending Dec. 31, net income rose by more than 386{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} over the year, primarily due to the sale of its real estate.

The publicly-traded company — one of the nation’s largest citrus producers — reported earnings of $3.8 million, or 51 cents a share. That was up from about $800,000, or 11 cents a year ago.

The results included a $3.4 million gain mostly related to the sale of 700 acres from its Alico Ranch in Hendry County — and the sale of mineral rights — to multiple private buyers.

Excluding the gain and other one-time revenues, the company lost 23 cents a share in the quarter. That compared to an adjusted loss of 29 cents a share a year ago.

In case you missed it: State approves option agreement to buy more land from Alico for conservation in Hendry County

More: Alico earnings fall $14 million after challenging 2020 for citrus industry

The latest financial results reflect the seasonality of Alico’s business. Most of the company’s citrus crop is harvested in the second and third quarters of its fiscal year.

In

Read More

Risk-Averse Real Estate Investing Is Turning To Sustainability For Strong, Long-Term Financial Returns

The real estate industry, as a whole, is not known for its innovation. People in the industry often opt for proven methods rather than experimenting with new ideas. FORE Partnership, a real estate development firm operating in the U.K. and Western Europe, however, prides itself on funding innovative, sustainable projects.

“Real estate is a pretty sleepy industry — people like to do things the way that they did them on the last buildings, because they’re very risk averse,” says Basil Demeroutis, managing partner of FORE Partnership. “That’s starting to change.”

The growth of purposeful businesses — driven by market pressures, consumer and employee values, and increased business visibility — is partly behind this shift. FORE Partnership itself is a newly Certified B Corporation, a business that has met certain social and environmental standards as verified by the nonprofit B Lab. 

But, Demeroutis warns, “What we need is a clear signal to the capital markets to say what will be accepted behavior and what won’t. Because when it’s too complicated and when

Read More

Calgary real estate forecast to continue strong sales momentum, even see slight price growth

It won’t be a banner year for real estate in Calgary, but according to the city’s association of realtors, 2021 will likely be marked by more balance among buyers and sellers.



a person holding a cell phone: Calgary Real Estate Board chief economist Ann-Marie Lurie expects home sales to increase by five per cent over 2021.


© Provided by Calgary Herald
Calgary Real Estate Board chief economist Ann-Marie Lurie expects home sales to increase by five per cent over 2021.

That’s good — but not great — news, according to the Calgary Real Estate Board’s CEO and president Alan Tennant.

“It’s human nature that we find optimism,” he said recently about what he’s heard among the board’s more than 5,000 members.

Optimism does not quite “capture the mood. I think everybody is more concerned,” he adds.

Cautious optimism better reflects the key thrust of the Calgary Real Estate Board 2021 Forecast, released Tuesday.

It forecast the benchmark price of a home in Calgary will increase by one per cent this year over 2020. While modest, it would be notable, marking the first year of positive price growth since 2015.

CREB chief economist Ann-Marie Lurie explained sales growth momentum from the second half of 2020, which outpaced sales data from the last few years, should continue into the first few months of 2021.

“But listings will

Read More

Kitchen of the Week: Vintage farmhouse character makes strong design statement

This farmhouse-style kitchen, in a renovated home in the Bay of Plenty, was designed to appear as though it has evolved over time.

SUPPLIED

This farmhouse-style kitchen, in a renovated home in the Bay of Plenty, was designed to appear as though it has evolved over time.

Back in the day, the kitchen table was the hub of all family activity – cooking, eating, socialising, entertaining, homework, you name it. And it happened around the table.

That’s the exact look and feel that a young, work-from-home family wanted for their new kitchen, say designers Jes Gordon and Christine Dawson of Mastercraft Kitchens Tauranga.

“I came into this project when our client’s home renovation was well underway, by which time most of the original kitchen was gone,” says Gordon. “There was a mish-mash of some old units put together with a piece of board on the top to act as a makeshift bench.

Jes Gordon of Mastercraft Kitchens Tauranga says the kitchen needed to be the family hub - a place for eating, socialising, homework and other activities.

SUPPLIED

Jes Gordon of Mastercraft Kitchens Tauranga says the kitchen needed to be the family hub – a place for eating, socialising, homework and other activities.

“The large set of windows that dominate the space had also been painted a semi-gloss black. They, along with the gloss-black cooking range (Rangemaster), imported from the UK, determined the colour of the cabinetry.”

READ MORE:
* Kitchen of the Week: Deerstalker’s dream beside Lake

Read More

WSGF Reports Very Strong Support For Vaycaychella Real Estate Cryptocurrency

The MarketWatch News Department was not involved in the creation of this content.

Dallas, Texas, Jan 22, 2021 (Newsfile Corp via COMTEX) —
Dallas, Texas–(Newsfile Corp. – January 22, 2021) – World Series of Golf, Inc. (OTC Pink: WSGF) (“WSGF”) today reported very strong support for the Company’s cryptocurrency strategy in conjunction with the company’s overall fintech short-term rental property acquisition alternative finance business.

In conjunction with the company’s cryptocurrency plans, management conducted a cryptocurrency survey. Today the Company reported the survey results.

95{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} of respondents supported the company’s cryptocurrency strategy and 84{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} expressed interest in purchase real estate with cryptocurrency. Another 12{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} expressed interest in owning an interest in Vaycaychella through cryptocurrency. The full results are included below.

Vaycaychella is subsidiary operation of WSGF acquired last year that now represents the Company’s primary business focus. A corporate name change is underway.

Vaycaychella has built a peer-to-peer (P2P) technology solution designed to connect short-term rental property buyers with alternative investors. The P2P application (app) is part of a fintech ecosystem solution suite for short-term rental property owners that includes a Visa Card solution and plans for a cryptocurrency component.

Over the past three years Vaycaychella has built a portfolio

Read More

Home Improvement Sales Expected to Remain Strong in 2021

Dublin, Jan. 19, 2021 (GLOBE NEWSWIRE) — ResearchAndMarkets.com published a new article on the home improvement industry “Home Improvement – Home Improvement Sales Expected to Remain Strong in 2021”

The Joint Center for Housing Studies of Harvard University projects an annual growth in renovation and repair spending of 4.1{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} by the first quarter of 2021 with a fall to 1.7{ac967ad544075fb2f6bcea1234f8d91da186cac15e616dc329e302b7c7326b8c} by the third quarter.

Annual expenditures for renovation and repair of owner occupied homes are expected to rise from $332 billion to $337 billion by the second half of 2021. In 2020, the home improvement sector saw growth as a result of consumers spending more time at home along with the need for consumers to adapt their homes to serve new purposes such as work, school and leisure.

Trends started in 2020 are expected to continue and even pick up pace in 2021 as consumers who have gained confidence in their home improvement skills turn to more ambitious projects. Key trends for 2021 will include consumers seeking to repurpose existing spaces within their homes, reorganization of home storage such as closets and garages as well as an increased focus on improving outdoor living spaces.

According to a survey from Lowes

Read More

Mitch Gould of Consumer Products International Sees Home Improvement Retail Sales Staying Strong in 2021

Boca Raton, FL, Jan. 14, 2021 (GLOBE NEWSWIRE) — When COVID-19 forced millions of people to stay at home, many of them got busy fixing up their homes, which is why retailers, such as Lowes and Home Depot, thrived during the pandemic.

Third-quarter sales for Lowes increased 30.1 percent to $22.3 billion, while Home Depot reported a 24 percent spike from 2019 as people spruced up their homes while stuck at home.

“The reason the U.S. economy has shown resiliency is that COVID-19 didn’t hurt all the consumer goods sections. For many consumers, they just switched from in-store purchases to online buying,” said Mitch Gould, founder and CEO of Boca-Raton based Consumer Products International. “Many consumer industries, such as home improvement, thrived during the health crisis.”

Gould said the U.S. economy in 2021 should continue to rebound as Americans receive stimulus and expanded unemployment checks, and businesses receive aid from the government.

“We have a $900 billion stimulus package that will fuel the immediate economy while the country expands its vaccination rollout to reach millions of people,” Gould said. “As more people receive the vaccine, I think you will see a return to normalcy.”

Annual expenditures for renovation and

Read More