Business
Power Corporation of Canada Reports 2015 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\nTORONTO, Aug. 7, 2015 /CNW Telbec/ - Power Corporation of Canada (TSX: POW) today reported earnings results for the second quarter and six months ended June 30, 2015. \n\nSECOND QUARTER RESULTS \n\nOperating earnings attributable to participating shareholders (a non-IFRS financial measure) for the quarter ended June 30, 2015 were $423 million or $0.91 per share, compared with $324 million or $0.70 per share in 2014. \n\nOther items, not included in operating earnings, were a contribution of $192 million mainly comprised of: a partial recovery of $183 million of prior period impairment charges on the disposal of the Corporation's investment in CITIC Limited; a recovery of $53 million representing the Corporation's share of the partial reversal of impairment charges recorded by Groupe Bruxelles Lambert (GBL) on its investment in Lafarge SA (Lafarge); and the Corporation's share of impairment charges and restructuring costs of $43 million related to the merger of Lafarge with Holcim, and impairment charges at Square Victoria Communications Group Inc. In the corresponding period of 2014, other items represented a net charge of $10 million. Additional details on other items can be found in the table entitled \"Other Items\" below. \n\nNet earnings attributable to participating shareholders were $615 million or $1.33 per share, compared with $314 million or $0.68 per share in 2014. \n\nSIX-MONTH RESULTS \n\nOperating earnings attributable to participating shareholders for the six months ended June 30, 2015 were $772 million or $1.67 per share, compared with $548 million or $1.19 per share in 2014. \n\nOther items, not included in operating earnings, resulted in a contribution of $197 million, compared with $8 million in 2014. \n\nNet earnings attributable to participating shareholders were $969 million or $2.10 per share, compared with $556 million or $1.21 per share in 2014. \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, 2015 of $559 million or $0.79 per share...