Business
Six-month operating earnings increase 27.8%
Six-month operating earnings increase 27.8%.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\nReaders are referred to the Forward-looking Statements and Non-GAAP\n\n\nFinancial Measures sections at the end of this release.\n\n\nWINNIPEG, Aug. 2 /CNW Telbec/ - Power Corporation of Canada's operating\nearnings for the six-month period ended June 30, 2007 were $757 million or\n$1.62 per share, compared with $593 million or $1.27 per share in the\ncorresponding period of 2006. This represents a 27.8% increase on a per share\nbasis.\n\n\nGrowth in operating earnings reflects an increase of 18% in the\ncontribution from Power Financial, as well as a significant increase in income\nfrom investments generated primarily by the Corporation's portfolio of\ninvestment in funds in North America, its interest in Sagard 1 Fund in Europe,\nand its operations as a Qualified Foreign Institutional Investor in China.\n\n\nOther income was $2 million or $0.01 per share for the six-month period\nin 2007. Other income was also $2 million for the corresponding period in\n2006.\n\n\nAs a result, net earnings for the six months ended June 30, 2007 were\n$759 million or $1.63 per share, compared with $595 million or $1.27 per share\nin the same period of 2006.\n\n\nSECOND-QUARTER RESULTS\n\n\n----------------------\n\n\nFor the quarter ended June 30, 2007, operating earnings of the\nCorporation were $394 million or $0.84 per share, compared with $339 million\nor $0.73 per share in the second quarter of 2006. This represents an increase\nof 15.4% on a per share basis.\n\n\nOther income for the second quarter of 2007 was $2 million or $0.01 per\nshare, compared with $2 million for the same quarter of 2006.\n\n\nNet earnings for the quarter were therefore $396 million or $0.85 per\nshare in 2007, compared with $341 million or $0.73 per share in 2006.\n\n\nRESULTS OF POWER FINANCIAL CORPORATION\n\n\n--------------------------------------\n\n\nPower Financial Corporation's operating earnings for the six-month period\nended June 30, 2007 were $1,052 million or $1.43 per share, compared with\n$891 million or $1.22 per share in the corresponding period of 2006. This\nrepresents an 18.1% increase on a per share basis.\n\n\nGrowth in operating earnings reflects primarily growth in the\ncontribution from Power Financial's subsidiaries and affiliate.\n\n\nOther income was $3 million for the six-month period ended June 30, 2007\nor $0.01 per share, com...