(August 29 – 10:00 ET) – Rampart Mercantile Inc. today reported a profit of $2.3 million, or 61¢ a share, in the nine months ended July 31, compared with a year-earlier loss of $422,757 or 20¢ a share.

The company said only 12¢ a share of the latest earnings came in the third quarter but it provided no further figures.

“The decline in income for the third quarter is attributable to costs associated with the preparation and setting up of two additional offices, details of which will be announced shortly,” it said in a brief statement.

Rampart currently has offices in Toronto, Calgary, Fredericton, and
Pickering, Ont. The firm says it has 70 brokers, and plans to expand to 100 in the next year to 18 months.

-IE Staff