Thursday, April 17th6.4°C
21417
20363

Brookfield Asset says 2013 was its best year in more than a century

TORONTO - Brookfield Asset Management Inc. (TSX:BAM.A), which has a history reaching back more than a century, says 2013 was its best financial year ever.

The Toronto-based company, which manages investments in the real estate, power generation, infrastructure and forestry sectors through subsidiaries and partnerships, had US$3.8 billion in net income.

That's about a billion dollars more than in 2012.

Brookfield's assets under management increased to US$187 billion at the end of 2013, with fee-bearing capital rising 32 per cent to US$80 billion.

In the fourth quarter ended Dec. 31, Brookfield's net income was US$850 million, or $1.08 per diluted share — up from $779 million or 72 cents per share in the final three months of 2012.

Brookfield said its net income, which was up nine per cent year over year, was affected by a smaller increase in property values compared with the especially big gain a year earlier.

Meanwhile, Brookfield's funds from operations during the quarter more than doubled to US$1.03 billion, or $1.59 per share, from US$459 million or 67 cents per share a year earlier.

"We continue to believe that real assets will generate excellent risk-adjusted returns for our clients," Bruce Flatt, Brookfield's chief executive, told analysts Friday during a conference call.

"As these investments gain in popularity, we believe that investors will continue to increase their portfolio allocations to real assets."

The Canadian Press


Read more Business News

20828


Recent Trending




Today's Market
S&P TSX14446.52+142.60
S&P CDNX997.975.87
DJIA16424.85162.29
Nasdaq4086.225+52.064
S&P 5001862.31+19.33
CDN Dollar0.9090+0.0013
Gold1298.40-4.70
Oil103.67-0.09
Lumber326.50-2.30
Natural Gas4.551+0.021

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.22-0.05
Cantex0.045-0.005
Anavex Life Sciences0.375-0.005
Metalex Ventures0.0750.00
Russel Metals30.55+0.28
Copper Mountain Mining2.42+0.10
Colorado Resources0.2650.00
ReliaBrand Inc0.12-0.01
Sunrise Resources Ltd0.025-0.005
Mission Ready Services0.23-0.02

 
19691


20880

FEATURED Property
1535355 #1208 2040 Springfield Road
2 bedrooms 2 baths
$329,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Valuation fears grip markets

The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...


Quick and nimble

Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...


Keeping a clear focus on the future

Many times when we are gripped by fear it can be one of two mental challenges that we can learn to overcome. Photo: ContributedThe Fear is completely imaginary. In this situation there may be no fact...

_



21641

21604


Member of BC Press Council


21202