Business Services Industry
Chartwell International Inc. reports major gain in financial position
Business Wire, Nov 5, 1996
DENVER--(BUSINESS WIRE)--Nov. 5, 1996--Chartwell International Inc. (OTC:CHAP) announced today audited figures for its fiscal year ending July 31, 1995.
As part of the company's restructuring some of its assets were written down which resulted in a net loss of $.01 per share on $517,617 in gross revenues.
However, the company showed a substantial increase over the previous year in its balance sheet. Total assets climbed 100% to $6 million and shareholders equity increased from $121,763 to $2,434,323.
Management is continuing to aggressively seek acquisitions in order to improve its financial position and operating results.
Chartwell is a holding company specializing in sports marketing.
CONTACT: Chartwell International Inc., Denver
Richard R. Perkins, 888/393-CHAP
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