Leisureworld Remains Steady
Leisureworld CFO Manny Di Filippo's departure shouldn't negatively impact strategic focus or day-to-day operations, according to analysts. Dundee’s Yashwant Sankpal isn't surprised, given the fact that the company brought on Tim McSorley, "the former CFO of a reputed REIT," as a financial consultant a few months ago. LW is one of Canada’s largest operators of seniors housing, with residences (like the Royale Peninsula project in Surrey, above) in Ontario and BC. The company has 7,500 employees and was trading this morning at $11.29. Tim McSorley was former CFO of Canadian Real Estate Investment Trust and is now serving as interim CFO. Analysts point to the company’s low-risk business model, conservative balance sheet, and strong cashflow from its portfolio.
