February 20, 2014 / 11:10 PM / 4 years ago

Element Financial quarterly loss narrows as financing grows

TORONTO (Reuters) - Element Financial Corp (EFN.TO), a Canadian equipment financing company, said on Thursday it narrowed its fourth-quarter loss as higher finance receivables more than made up for a jump in transaction costs.

Toronto-based Element posted a net loss of C$0.3 million ($271,000), or nil per share, in the quarter. That compared with a year-earlier loss of C$3.4 million, or 4 Canadian cents a share.

Finance receivables more than doubled to C$3.01 billion from C$1.32 billion a year earlier.

($1 = 1.1069 Canadian dollars)

Reporting by Cameron French; Editing by Marguerita Choy

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