Business
Nine-month financial results
Nine-month financial results.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n\nReaders are referred to the Forward-looking Information and Non-GAAP\nFinancial Measures sections at the end of this release.\n\nMONTREAL, Nov. 10 /CNW Telbec/ - Power Corporation of Canada's operating\nearnings for the nine-month period ended September 30, 2006 were $866 million\nor $1.85 per share, compared with $781 million or $1.70 per share in the\ncorresponding period of 2005. This represents an increase of 9.2% on a\nper share basis.\nGrowth in the Corporation's operating earnings reflects primarily an\nincrease in the contribution from Power Financial Corporation, as well as an\nincrease in results from corporate activities due to higher income from\ninvestments.\nOther items not included in operating earnings were $238 million or\n$0.53 per share in 2006. This figure includes the Corporation's share, in the\namount of $236 million, of the gain resulting from the sale by Groupe\nBruxelles Lambert of its 25.1% interest in Bertelsmann. For the nine-month\nperiod in 2005, items not included in operating earnings were a charge of\n$13 million or $0.03 per share in the aggregate, including a charge of\n$14 million or $0.03 per share representing Power Corporation's share of a\nspecific charge recorded by Lifeco.\nAs a result, net earnings for the nine-month period ended September 30,\n2006 were $1,104 million or $2.38 per share, compared with $768 million or\n$1.67 for the same period in 2005.\n\nTHIRD QUARTER RESULTS\n---------------------\n\nFor the quarter ended September 30, 2006, operating earnings of the\nCorporation were $273 million or $0.58 per share, compared with $258 million\nor $0.56 per share in the third quarter of 2005. This represents an increase\nof 4.3% on a per share basis.\nOther items for the quarter in 2006 were $236 million or $0.52 per share,\ncomposed primarily of the Corporation's share of the gain related to the sale\nby GBL of its interest in Bertelsmann. In the corresponding period in 2005,\nitems not included in operating earnings were a charge of $16 million or\n$0.04 per share in the aggregate, and were primarily composed of the\nCorporation's share, in the amount of $14 million or $0.03 per share, of a\nspecific charge recorded by Lifeco.\nTherefore, net earnings for the three-month period ended September 30,\n2006 were $509 million or $1.10 per share, compared with $242 million or\...