Sunday, March 1st1.8°C
25327
22952

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

25194


Recent Trending




Today's Market
S&P TSX15234.34-6.82
S&P CDNX706.73+5.80
DJIA18132.70-81.72
Nasdaq4963.528-24.362
S&P 5002104.50-6.24
CDN Dollar0.7995-0.0001
Gold1203.00+6.10
Oil52.14+1.53
Lumber297.20+1.20
Natural Gas2.895-0.007

 
Okanagan Companies
Pacific Safety0.12+0.005
Knighthawk0.010.00
QHR Technologies Inc1.55-0.03
Cantex0.035-0.005
Anavex Life Sciences0.190.00
Metalex Ventures0.035-0.005
Russel Metals25.38+0.08
Copper Mountain Mining1.30+0.04
Colorado Resources0.15+0.015
ReliaBrand Inc0.008-0.0007
Sunrise Resources Ltd0.05+0.015
Mission Ready Services0.235+0.025

 



25103

FEATURED Property
19009704518 Gallaghers Edgewood Crt.
3 bedrooms 3 baths
$669,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Creating your retirement vision

A vision means different things to different people. To the head of a large corporation, it’s the ability to chart a course that will deliver success (think Steve Jobs and Apple), to a shaman, i...


Are you asking the right questions?

Have you ever had this happen to you? You are in the middle of your second or third good discussion with a prospect and everything seems to be going great. The prospect seems engaged and happy to work...


It's OK to say 'I'm sorry'

Photo: ContributedStand-up comedians and sitcoms have been making fun of Canadians for being polite as long as I can remember. Being known for our niceness is certainly not a bad thing and I wish more...

_








Member of BC Press Council


24681