Business
Power Corporation of Canada - Financial results for 2005
Power Corporation of Canada - Financial results for 2005.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n\nReaders are referred to the disclaimers regarding Forward-looking \nInformation and Non-GAAP Financial Measures at the end of this release.\n\nMONTREAL, QC, March 29 /CNW Telbec/ - Power Corporation of Canada's\noperating earnings for the year ended December 31, 2005 were $1,071 million or\n$2.32 per participating share, compared with $954 million or $2.08 per\nparticipating share in 2004, an increase of 11.3 per cent on a per share\nbasis.\nGrowth in operating earnings reflects primarily a substantial increase in\nthe contribution from subsidiaries, driven by operating results at Power\nFinancial Corporation, and to a lesser extent improved results for corporate\nactivities.\nOther income was $3 million or $0.01 per participating share in 2005. In\n2004, other income was a charge of $5 million or $0.01 per share.\nPower Corporation's share of a specific charge recorded by Lifeco related\nto hurricane activity was $21 million or $0.05 per share.\nPower Corporation's net earnings, for 2005 were $1,053 million or $2.28\nper participating share, compared with $949 million or $2.07 per share in\n2004.\n\nFOURTH-QUARTER RESULTS\n----------------------\n\nFor the three months ended December 31, 2005, Power Corporation's\noperating earnings were $290 million or $0.62 per participating share,\ncompared with $242 million or $0.53 per share in 2004, an increase of \n17.8 per cent on a per share basis. Results in the fourth quarter of 2005\ninclude $20 million of pre-tax revenue resulting from the distribution by\ninvestments funds.\nIncluding other income of $2 million and the Corporation's share of the\nspecific charge recorded by Lifeco for $7 million, net earnings for the\nquarter were $285 million or $0.61 per share. In the fourth quarter 2004, net\nearnings were $232 million or $0.51 per share including a charge to other\nincome of $10 million or $0.02 per share.\n\nPOWER FINANCIAL CORPORATION'S RESULTS\n-------------------------------------\n\nPower Financial Corporation's operating earnings for the year ended\nDecember 31, 2005 were $1,694 million or $2.33 per share, compared with \n$1,538 million or $2.11 per share in 2004, an increase of 10.1 per cent on a\nper share basis.\nGrowth in operating earnings reflects a substantial increase in the\ncontribution from Power Financial's subsidiaries and affiliate.\nOther income ...