Sunday, April 19th2.2°C
26072
24291

Brookfield Asset Management reports US$843M Q1 profit, up from $697M a year ago

TORONTO - Brookfield Asset Management Inc. (TSX:BAM.A) said Wednesday it earned US$843 million in its latest quarter, up from US$697 million a year ago.

The company said the profit amounted to 80 per diluted share for the quarter ended March 31, up from 51 cents per diluted share a year ago.

Brookfield said the increase was due in part to an increase in the value on its office and retail properties and private equity investments, offset in part due to a change in tax rates.

Revenue totalled US$4.37 billion, down from $4.95 billion in the first three months of 2013.

Funds from operations totalled US$492 million or 72 cents per share, down from $689 million or $1.03 per share a year ago when the results were boosted by the sale of part of its renewable energy portfolio.

"Our global portfolio of real assets turned in a strong performance, including a significant increase in fee revenues and the contribution from our renewable energy investments," Brookfield chief executive Bruce Flatt said in a statement.

"We continue to see attractive investment opportunities globally for all of our funds, benefiting from both our strong access to capital and operating platforms."

Brookfield holds over US$175 billion in assets under management with a focus on real estate, renewable energy, infrastructure and private equity.

On the Toronto Stock Exchange, Brookfield Asset shares rose 41 cents to C$46 on Wednesday.

Note to readers: This is a corrected story: A previous version said revenue was up from the previous quarter

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15360.55-26.22
S&P CDNX702.85-2.74
DJIA17826.30-279.47
Nasdaq4931.81-75.98
S&P 5002081.18-23.81
CDN Dollar0.8169-0.0001
Gold1204.10+6.10
Oil56.14-0.57
Lumber245.50-9.80
Natural Gas2.641-0.043

 
Okanagan Companies
Pacific Safety0.12+0.00
Knighthawk0.010.00
QHR Technologies Inc1.40-0.01
Cantex0.035+0.005
Anavex Life Sciences0.33+0.02
Metalex Ventures0.075+0.030
Russel Metals27.48-0.23
Copper Mountain Mining1.13+0.01
Colorado Resources0.10-0.00
ReliaBrand Inc0.005+0.001
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.175-0.010
Decisive Dividend Corporation1.80+0.15

 





FEATURED Property
2254854#135-1050 Springfield Road
3 bedrooms 3 baths
$325,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Calling on your help!

Has the internet flattened prices as predicted? Has the internet created opportunities for your business to find higher priced markets further afield? Is posting prices on your website a good thing o...


Living with Plan B

“It does not do to leave a live dragon out of your calculations, if you live near him.”― J.R.R. Tolkien, The Hobbit Photo: Thinkstock.comHuman beings are optimists by nature. Whether...


Reverse mortgage solution

With the housing and financial markets on solid footing, some retired Canadians may consider cashing in their growing assets to enjoy vacations and major home renovations. Others, on the other hand, a...

_



25979




Member of BC Press Council


25346