Business
Power Corporation of Canada Reports 2014 Third Quarter and Nine-Month Financial Results and Dividends
All figures are in Canadian dollars unless otherwise noted. Readers are referred to th...
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\nAll figures are in Canadian dollars unless otherwise noted. Readers are\n referred to the sections entitled \"Non-IFRS Financial Measures\" and\n \"Forward-Looking Statements\" at the end of this release.\n\n\nTORONTO, Nov. 14, 2014 /CNW Telbec/ - Power Corporation of Canada (TSX:\n POW) today reported earnings results for the third quarter and nine\n months ended September 30, 2014.\n\n\nTHIRD QUARTER RESULTS\n\n\nOperating earnings (a non-IFRS financial measure) and net earnings\n attributable to participating shareholders for the quarter ended\n September 30, 2014 were $350 million or $0.76 per share. In the\n corresponding period of 2013, operating earnings attributable to\n participating shareholders were $234 million or $0.51 per share and net\n earnings attributable to participating shareholders were $206 million\n or $0.45 per share.\n\n\nNINE-MONTH RESULTS\n\n\nOperating earnings attributable to participating shareholders for the\n nine months ended September 30, 2014 were $898 million or $1.95 per\n share, compared with $741 million or $1.61 per share in 2013.\n\n\nOther items, not included in operating earnings, were a contribution of\n $8 million comprised of the Corporation's share of the gains realized\n by Groupe Bruxelles Lambert (GBL) on the sale of part of its interest\n in Total SA (Total) and on the exchange of Suez Environnement Company\n (Suez Environnement) shares as further described below, partially\n offset by restructuring and other charges at IGM Financial Inc. (IGM)\n and Square Victoria Communications Group Inc. In the corresponding\n period of 2013, other items represented a net charge of $64 million.\n Additional details can be found in the table entitled \"Other Items\"\n below.\n\n\nNet earnings attributable to participating shareholders were $906\n million or $1.97 per share, compared with $677 million or $1.47 per\n share in 2013.\n\n\nRESULTS OF POWER FINANCIAL CORPORATION\n\n\nTHIRD QUARTER RESULTS\n\n\nPower Financial reported operating and net earnings attributable to\n common shareholders for the quarter ended September 30, 2014 of $595\n million or $0.83 per share, compared with $434 million or $0.61 per\n share in 2013.\n\n\nNINE-MONTH RESULTS\n\n\nFor the nine months ended September 30, 2014, operating earnings\n attributable to common shareholders were $1,580...