Business
Six-month operating earnings per share increase 11.7%
Six-month operating earnings per share increase 11.7%.
About this update from Power Corporation Of Canada
[{"type":"text","content":"\n\n\n\n\nReaders are referred to the Forward-looking Information and Non-GAAP\nFinancial Measures sections at the end of this release.\n\nWINNIPEG, MB, Aug. 3 /CNW Telbec/ - Power Corporation of Canada's\noperating earnings for the six-month period ended June 30, 2006 were\n$593 million or $1.27 per share, compared with $523 million or $1.14 per share\nin the corresponding period of 2005. This represents an 11.7% increase on a\nper share basis.\nGrowth in the Corporation's operating earnings reflects an increase in\nthe contribution from Power Financial Corporation. It also reflects an\nincrease in income from investments, which includes $32 million of pre-tax\ngains in the second quarter contributed by Sagard, the European private equity\nfund.\nOther items not included in operating earnings were $2 million in the\nsix-month period in 2006, compared with $3 million in the corresponding period\nin 2005.\nAs a result, net earnings for the six months ended June 30, 2006 were\n$595 million or $1.27 per share, compared with $526 million or $1.14 per share\nin 2005.\n\nSECOND QUARTER RESULTS\n----------------------\n\nFor the quarter ended June 30, 2006, operating earnings of the\nCorporation were $339 million or $0.73 per share, compared with $292 million\nor $0.64 per share in the second quarter in 2005. This represents an increase\nof 14.9% on a per share basis. The increase reflects growth in the\ncontribution from subsidiaries, as well as higher income from investments, as\nexplained above.\nOther items for the quarter in 2006 were $2 million, as in 2005.\nNet earnings for the quarter were therefore $341 million or $0.73 per\nshare in 2006, compared with $294 million or $0.64 per share in 2005.\n\nRESULTS OF POWER FINANCIAL CORPORATION\n--------------------------------------\n\nPower Financial Corporation's operating earnings for the six-month period\nended June 30, 2006 were $891 million or $1.22 per share, compared with\n$830 million or $1.14 per share in the corresponding period in 2005. This\nrepresents a 6.7% increase on a per share basis.\nGrowth in the Power Financial's operating earnings reflects an increase\nin the contribution from its subsidiaries and affiliate.\nOther items not included in operating earnings were a net charge of\n$5 million or $0.01 per share in the six-month period in 2006. Other items\nwere nil in...