Tally-Ho Ventures Inc., an international wealth management firm, has announced its first quarter results for fiscal 2006.
Revenues for the quarter ended March 31, 2006 were $1.7 million compared to $0.00 for the same quarter last year.
For revenue comparison purposes, it is important to note that the company’s operations began after a reverse merger reorganization, which occurred on May 23, 2005.
The increase in revenues is due to the acquisition of Master Finance Holdings S A. The Company had a net profit of $315,003 for the quarter ended March 31, 2006, as compared to $0.00 for the quarter ended March 31, 2005. The profit for the quarter ended March 31, 2006 consisted primarily of $315,003 profit from the operations of Master Finance Holdings S A and its subsidiaries and the franchising of Belgravia Intervest Group Limited which is a discontinued operation for the current fiscal year.
“Considering the seasonality of our business, we are very pleased with our first quarter results, said Peter Smith, chief executive officer of Tally-Ho Ventures, Inc. “Our revenues were on pace with our internal forecasts, and our previously announced franchise arrangement with Affinity was a significant contributor to our net income. We worked diligently to integrate our acquisition of Master Finance onto the Company’s platform, added Mr. Smith. We are excited about the remainder of the year and we believe that we can continue to expand our top and bottom lines organically as well as by strategic acquisitions.”