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Power Corporation of Canada Reports 2013 Second Quarter and Six-Month Financial Results and Dividends
Readers are referred to the sections entitled "Non-IFRS Financial Measures" and "Forward-Lo...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\nReaders are referred to the sections entitled \"Non-IFRS Financial\n Measures\" and \"Forward-Looking Statements\" at the end of this release.\n\n\nWINNIPEG, Aug. 2, 2013 /CNW Telbec/ - Power Corporation of Canada (TSX:\n POW) today reported earnings results for the second quarter and six\n months ended June 30, 2013.\n\n\nSECOND QUARTER RESULTS\n\n\nOperating earnings attributable to participating shareholders, a\n non-IFRS financial measure, for the quarter ended June 30, 2013 were\n $260 million or $0.56 per share, compared with $287 million or $0.62\n per share in the corresponding period in 2012.\n\n\nSubsidiaries contributed $289 million to Power Corporation's operating\n earnings, compared with $291 million in the same period in 2012.\n Results from corporate activities were a net charge of $16 million,\n compared with a contribution of $9 million in the corresponding period\n in 2012.\n\n\nOther items, not included in operating earnings, represented a net\n charge of $14 million. Power Corporation's share of other items at\n Power Financial Corporation (Power Financial), a subsidiary, was a\n contribution of $7 million. Other items also included an impairment\n charge of $21 million on the Corporation's investment in CITIC Pacific.\n In the corresponding quarter of 2012, other items represented a charge\n of $10 million. Additional details on other items can be found in the\n sections entitled \"Results of Power Financial\" and \"Earnings Summary\"\n below.\n\n\nNet earnings attributable to participating shareholders were $246\n million or $0.53 per share, compared with $277 million or $0.60 per\n share in the corresponding period in 2012.\n\n\nSIX-MONTH RESULTS\n\n\nOperating earnings attributable to participating shareholders for the\n six months ended June 30, 2013 were $507 million or $1.10 per share,\n compared with $492 million or $1.07 per share in the corresponding\n period in 2012, an increase of 2.9% on a per share basis.\n\n\nOther items, not included in operating earnings, resulted in a net\n charge of $36 million, compared with a contribution of $45 million in\n the corresponding period in 2012.\n\n\nNet earnings attributable to participating shareholders were $471\n million or $1.02 per share, compared with $537 million or $1.17 per\n share for the same period in 201...