Montfort Capital reported a net loss from continuing operations of $4.3 million for the six months ended June 30 — up from a net loss of $2.8 in the first half of 2024.
It also reported net income from discontinued operations of $4.9 million, compared with a net loss of $2.6 million in the year-earlier period.
The private credit asset manager has been going through a restructuring, selling two businesses in the past year.
Discontinued operations include Montfort’s mortgage lending business, which it sold to Brightpath Holdings Corp. in April, and its TIMIA business underwriting private-market loans in the technology space, which it sold in November 2024.
“We have made great strides over the past year in streamlining our operations and refocusing on those business units that are profitable, growing and operated from ourTorontooffice,” said Montfort CEOKen Thomson, in a release. “Our overhead costs have been significantly reduced and the loan portfolios of our continuing lines of business have grown over 17% in the first half of the year, driven primarily by Langhaus and Nuvo. We believe the substantial work of our restructuring plan is behind us and we’re well positioned to resume growth.”
Its latest financial results show a 20% decrease in revenue (down $500,000 to $1.8 million) and a 23% increase in expenses (up $1.1 million to $6.2 million) compared to the same period last year.
The firm reported a 17.2% increase in loans receivable net of allowance to $222 million.