Business
Financial results for 2006 - Power Corporation of Canada
Financial results for 2006 - Power Corporation of Canada.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nReaders are referred to the Forward-looking Information and Non-GAAP\n\n\nFinancial Measures at the end of this release.\n\n\nMONTREAL, March 21 /CNW Telbec/ - Power Corporation of Canada's operating\nearnings for the year ended December 31, 2006 were $1,166 million or $2.49 per\nparticipating share, compared with $1,071 million or $2.32 per participating\nshare in 2005, an increase of 7.6% on a per share basis.\n\n\nGrowth in operating earnings reflects an increase in the contribution\nfrom subsidiaries, as well as an increase in results from corporate activities\ndue to higher income from investments.\n\n\nOther income was $227 million or $0.51 per participating share in 2006,\nand includes an amount of $236 million or $0.52 per share representing the\nimpact of the gain recorded in the third quarter in connection with the sale\nby Groupe Bruxelles Lambert of its interest in Bertelsmann. In 2005, other\nitems not included in operating earnings were a net charge of $18 million, or\n$0.04 per share.\n\n\nPower Corporation's net earnings for 2006 were $1,393 million or $3.00\nper participating share, compared with $1,053 million or $2.28 per share in\n2005.\n\n\nFOURTH-QUARTER RESULTS\n\n\n----------------------\n\n\nFor the three months ended December 31, 2006, Power Corporation's\noperating earnings were $300 million or $0.64 per participating share,\ncompared with $290 million or $0.62 per share in 2005, an increase of 3.0% on\na per share basis.\n\n\nOther income in the fourth quarter of 2006 was a charge of $11 million or\n$0.02 per participating share. In the fourth quarter of 2005, other items not\nincluded in operating earnings were a net charge of $5 million or $0.01 per\nshare.\n\n\nNet earnings for the fourth quarter of 2006 were $289 million or $0.62\nper participating share, compared with $285 million or $0.61 per share for the\nsame period in 2005.\n\n\nPOWER FINANCIAL CORPORATION'S RESULTS\n\n\n-------------------------------------\n\n\nPower Financial Corporation's operating earnings for the year ended\nDecember 31, 2006 were $1,802 million or $2.46 per share, compared with \n$1,694 million or $2.33 per share in 2005. This represents a 5.7 per cent\nincrease on a per share basis (11.6 per cent based upon Lifeco's net income on\na constant currency basis).\n\n\nThe increase in operating earnings in 2006 ref...