West Hamilton Holdings Limited announced unaudited earnings results for the six months ended June 30, 2013. The company earned net income in the period under review of $386,808 against $396,682 a year ago. Total revenue for the period was $1,053,053 representing a marginal increase in comparison to 2012, $1,049,431.

Rental income for the first half of 2013 continues to be under pressure due to the protracted softness of the commercial real estate market in Bermuda. Towards the end of the period, a new tenant agreed a long term lease in the Belvedere Building which will have a positive impact on rental income for the second half of 2013. The decrease in rental income was partially offset by increased occupancy of the Company-s parking facility on Pitts Bay Road.

The demand for parking spaces is increasing and the facility will be operating at full capacity later in 2013. Operating income for the first half of 2013 decreased by 2.5% compared to 2012 to $386,808 against $396,682 a year ago. The decrease is attributed primarily to an increased depreciation charge of $78,397 which was partially offset by a decrease in interest expense.

Earnings per share were $0.13 for the period as compared to $0.14 per share in 2012.