Hot House Growers Profit In 2005

TORONTO - Apr 3/06 - SNS -- Hot House Growers Income Fund reported net earnings of CDN $1.431 million on revenue of $8.866 million during the fourth quarter ending December 31, 2005, compared to a loss of $24.69 million on revenue of $9.907 million during the same three month period of the previous fiscal year.

This lifted the net income for the 2005 fiscal year to $5.368 million on revenue of $62.566 million, compared to a net loss of $21.498 million on revenue of $52.002 million in fiscal 2004.

Looking forward to the coming year, the company said planting of the 2006 crop was completed in December 2005 at all of HHGI's existing operations, with a higher percentage of bell peppers and a lower percentage of beefsteak tomatoes in the crop mix.

It said the change reflects stronger market conditions for bell peppers. The new crop is developing well, with initial harvests of all crops now underway. Prices to date have been strong, however, it is too early to predict whether this trend will continue into the peak summer selling season.

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