Firm Cap Mortgage Invest (TSE:FC) has released an update.
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Firm Capital Mortgage Investment Corporation reported an increase in net income for the fourth quarter and full year of 2023, with a 4.8% rise in Q4 and a 6.0% increase for the year, driven by higher interest rates despite a smaller portfolio. Earnings per share also saw a boost, and while new investments dipped, the company maintained a diverse investment portfolio. The firm also adjusted its impairment allowance, reflecting a more cautious estimation of recoverable amounts and fair value adjustments.
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