Olympia Announces Year-End Results

    




 CALGARY, March 30, 2012 /CNW/ - Olympia Financial Group Inc.   today announced its operating and financial results for the year ended  December 31, 2011. 

 The audited financial statements and notes, as well as management's  discussion and analysis, are now available on SEDAR (www.sedar.com). 

 Notables for the year ended December 31, 2011 include the following: 




        --  total revenue increased 8%, to $38.34 million from $35.53
            million, compared to the previous year;
        --  earnings before income tax decreased 9%, to $7.36 million from
            $8.13 million, compared to the previous year;
        --  earnings from operations (before income tax and interest)
            decreased 38%, to $3.10 million from $4.96 million, compared to
            the previous year; and
        --  total interest increased 45%, to $4.22 million from $2.92
            million, compared to the previous year.




 Olympia was the victim of a bad cheque passing scheme during late 2011  and early 2012. Olympia wrote off $0.77 million for impaired cheques  received as a result of this scheme during 2011. The net effect of this  loss to shareholders for 2011 is estimated at $0.38 million after  considering tax and employee commission reductions. 

 Neither TSX Venture Exchange nor its Regulation Services Provider (as  that term is defined in the policies of the TSX Venture Exchange)  accepts responsibility for the adequacy or accuracy of this release. 

Olympia Financial Group Inc.


CONTACT:  contact Rick Skauge, President, at [phone],e-mail [e-mail] or visit thewebsite www.olympiatrust.com. 


    

Copyright