The Fonds de solidarité FTQ has posted profit of $1.6 billion for the first six months of its 2020-21 financial year. The company announced its share value is now $49.11, representing a shareholder return of 11 per cent for the six-month period that ended November 30, 2020 and a 12-month return of 6.3 per cent. Net assets grew to $15.6 billion.
"While some sectors of our economy are recovering from the consequences of the pandemic, others are still struggling. The start of the vaccination campaign in December offers hope for a broad-based economic recovery, and especially for the workers affected," said Gaétan Morin, president and CEO of the Fonds de solidarité FTQ.
"True to its mission, the Fonds de solidarité FTQ has been there from the beginning of the crisis to support its savers and partner companies. Now more than ever, our employees and local representatives are working hard to meet everyone's needs and contribute to the vitality of all the regions of Québec," said Morin.
Fonds invests in technology and environmental companies
In the first six months of its financial year, the Fonds continued to invest to enable Quebec companies to better prepare for the future, particularly in terms of technology and environmental transitions.
As part of a new co-investment partnership with EDC, the Fonds invested in Omnirobotic, a start-up specializing in autonomous robots for the manufacturing sector. The two organizations also invested together in NoviFlow, a leader in high-performance cybersecurity and programmable network software solutions.
It also invested in other companies that wanted to improve their automation processes and those interested in helping to fight climate change.
"I would like to thank our savers for supporting our mission. Thanks to them, the Fonds continues to actively invest in businesses across Quebec, not only to help them get through the crisis but also to help them prepare for the future.”