Griffin Land & Nurseries Inc., with operations in the Hartford area, said Wednesday said its second quarter earnings improved slightly from a year ago, but not enough to produce a profit.
One of Connecticut’s largest private landowners suffered a net loss of $785,000, or 15 cents a share, in the three months ended June 30, down from a net loss of $973,000, or 19 cents a share, the comparable period a year earlier.
Revenues were $15.5 million in the latest quarter, down from $19.7 million the same period a year ago.
New York-based Griffin said its earnings improved slightly compared to a year ago mainly because of an increase in rental revenue and reduction in operating expenses.
But Griffin said it continues to be hurt in part by continued weak demand for industrial and office space.
For the 2010 six month period, Griffin reported a net loss of $2.6 million, compared to a $2.8 million loss during the same time period last year.
Griffin owns Imperial Nurseries and has investments in Shemin Nurseries Inc., a Danbury distributor, and in Britain’s Centaur Media plc.
