Topsfield, MA, June 3, 2021—Huntwicke Capital Group, Inc. (HCGI), a diversified holding firm, today announced financial results for the FY2021 ended April 30, 2021. The Company reported that for the Fiscal Year it continued to increase growth in revenues to $10.5 million from $8.4 million for the comparable prior year. Net income and stockholder equity remained consistent through the year over year period. "As fiscal year 2021 comes to a close, it is a good time to reflect on the past year. Needless to say, it was a year of enormous challenges and we at Huntwicke Capital Group were not immune to the effects of the pandemic. But despite these challenges, due in large part to the management teams at each subsidiary, and quick and conservative balance sheet management, HCG was able to navigate the year successfully and profitably for our stakeholders" said Brian Woodland, President of Huntwicke Capital Group, Inc.
Subsidiary highlights include:
Huntwicke Securities (HS) and Essex Private Wealth Management (EPWM) both had record years for revenue and earnings. Assets under management grew to $400 million at EPWM. In addition, HS added four new, well-established advisory representatives.
Mercury Brewing (MB) navigated a very difficult year by responding quickly to the changing landscape of demand for beer. As restaurants remained closed throughout the region demand for beer reduced dramatically. MB responded by making the difficult decision to trim all non-essential staff. The remaining staff responded by taking on new roles above and beyond their usual responsibilities. MB was still able to can beer and off-premise sales grew slightly.
Aztec Soccer Club (ASC) and Skillz Check Academy (SCA) achieved record numbers of players, teams and programming in FY2021. Huntwicke Properties continues to perform well.
"HCG’s balance sheet and our subsidiary businesses have remained strong during this period. As a result, I look forward to the opportunities that are ahead of us as the pandemic subsides. HCG will look to grow all the subsidiaries and perhaps expand into other businesses in the future. Our top goals for this coming year are to:
1. grow each subsidiary in line with its specific growth initiatives
2. grow the revenue, assets and earnings of HCG for our shareholders
3. establish a consistent cash dividend and grow our liquidity options by the end of this calendar year
Overall, it was a good year for Huntwicke and we look forward to the future" said Brian Woodland.
This press release may contain “forward-looking statements” that include information relating to Huntwicke's future events and future financial and operating performance. Such forward-looking statements, including, but not limited to, the top goals for this year, hopes to continue growing the company and adding shareholder value, should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.