Business
Power Corporation of Canada Reports 2012 First Quarter Financial Results and Dividends
Readers are referred to the sections entitled "Forward-looking Statements" and "Non-IFRS Fi...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n\n\nReaders are referred to the sections entitled \"Forward-looking\n Statements\" and \"Non-IFRS Financial Measures\" at the end of\n this release. The Corporation's financial results are reported\n under International Financial Reporting Standards (IFRS)\n\n\nMONTREAL, May 15, 2012 /CNW Telbec/ - Power Corporation of Canada (TSX:\n POW) today reported operating earnings attributable to participating\n shareholders for the three-month period ended March 31, 2012 of $209\n million or $0.45 per share, compared with $218 million or $0.47 per\n share in the corresponding period in 2011.\n\n\nSubsidiaries contributed $244 million to Power Corporation's operating\n earnings, compared with $248 million for the first quarter of 2011, a\n decrease of 1.6%. Results from corporate activities were a net charge\n of $23 million in the three-month period ended March 31, 2012, compared\n with a net charge of $20 million in the corresponding period in 2011.\n\n\nOther items not included in operating earnings in the three-month period\n ended March 31, 2012 were $55 million, compared with a net charge of $2\n million in the corresponding period in 2011. Other items in the first\n quarter of 2012 were mainly composed of the Corporation's share of the\n gains realized by Groupe Bruxelles Lambert (GBL) on the partial\n disposal of Pernod Ricard (a producer of wines and spirits) shares ($30\n million) and the disposal of Arkema (a French chemicals producer)\n shares ($28 million).\n\n\nAs a result, net earnings attributable to participating shareholders for\n the three-month period ended March 31, 2012 were $264 million or $0.57\n per share, compared with $216 million or $0.47 per share in the\n corresponding period in 2011.\n\n\nRESULTS OF POWER FINANCIAL CORPORATION\n\n\nPower Financial reported operating earnings attributable to common\n shareholders of $372 million or $0.52 per share for the three-month\n period ended March 31, 2012, the same as in the corresponding period in\n 2011.\n\n\nOther items represented a contribution of $83 million, compared with a\n charge of $2 million in the first quarter of 2011. Other items in the\n first quarter of 2012 were mainly composed of the Corporation's share\n of the gains realized by GBL on the partial disposal of Pernod Ricard\n shares ($46 million)...