Business
Power Corporation of Canada Reports 2014 Second Quarter and Six-Month Financial Results and Dividends
All figures are in Canadian dollars unless otherwise noted. Readers are referred to the sect...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\nAll figures are in Canadian dollars unless otherwise noted. Readers are referred to the sections entitled \"Non-IFRS Financial Measures\" and \"Forward-Looking Statements\" at the end of this release. \n\n\n\nWINNIPEG, Aug. 8, 2014 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) today reported earnings results for the second quarter and six months ended June 30, 2014. \n\nSECOND QUARTER RESULTS\n\nOperating earnings attributable to participating shareholders (a non-IFRS financial measure) for the quarter ended June 30, 2014 were $324 million or $0.70 per share, compared with $260 million or $0.56 per share in 2013.\n\nOther items, not included in operating earnings, were a net charge of $10 million comprised of restructuring and other charges at IGM Financial Inc. (IGM) and Square Victoria Communications Group Inc., partially offset by the Corporation's share of the gains realized by Groupe Bruxelles Lambert (GBL) on the sale of part of its interest in Total SA (Total) and on the exchange of Suez Environnement Company (Suez Environnement) shares as further described below. In the corresponding period of 2013, other items represented a net charge of $14 million. Additional details on other items can be found in the table entitled \"Other Items\" below.\n\nNet earnings attributable to participating shareholders were $314 million or $0.68 per share, compared with $246 million or $0.53 per share in 2013.\n\nSIX-MONTH RESULTS\n\nOperating earnings attributable to participating shareholders for the six months ended June 30, 2014 were $548 million or $1.19 per share, compared with $507 million or $1.10 per share in 2013.  \n\nOther items, not included in operating earnings, resulted in a contribution of $8 million, compared with a net charge of $36 million in 2013. \n\nNet earnings attributable to participating shareholders were $556 million or $1.21 per share, compared with $471 million or $1.02 per share in 2013.\n\nRESULTS OF POWER FINANCIAL CORPORATION\n\nSECOND QUARTER RESULTS\n\nPower Financial reported operating earnings attributable to common shareholders for the quarter ended June 30, 2014 of $545 million or $0.77 per share, compared with $464 million or $0.65 per share in 2013.   \n\nOther items, not included in operating earnings, were a contribution of $23 million, represent...