Accord Releases 2020 First Quarter Report

Net loss attributable to the Company’s shareholders was $5,876,000 for the first quarter of 2020 compared with net earnings attributable to shareholders of $1,643,000 in the first quarter of 2019. Loss per Share (“LPS”) was 69 cents this quarter compared to Earnings per Share (“EPS”) of 19 cents in the first quarter of 2019. The first quarter net loss was mainly as a result of a higher provision for losses due to the impact of COVID-19, as well as an impairment charge taken against assets held for sale, increased general and administrative expenses and lower revenue.