Sunday, October 4th15.0°C

Power financial group's second-quarter profit rises

WINNIPEG - Power Corporation of Canada (TSX:POW) reports it had $314 million of net income attributable to its participating shareholders in the second quarter.

The Montreal-based financial group's main subsidiary, Power Financial Corp. (TSX:PWT), had $568 million of net income attributable to its common shareholders.

The parent company has a 65.8 per cent economic interest in Power Financial which, in turn, is the parent of Winnipeg-based Great-West Lifeco (TSX:GWO) and IGM Financial (TSX:IGM).

Together, the companies are involved in life insurance, wealth management and investments.

Power Corporation's second-quarter net profit amounted to 68 cents per share, up from $246 million or 53 cents per share a year earlier.

Power Financial's second-quarter net profit amounted to 80 cents per share, up from $475 million or 67 cents per share a year earlier.

The Canadian Press

Read more Business News


Recent Trending

Today's Market
S&P TSX13339.74+97.85
S&P CDNX525.56-0.33
S&P 5001951.36+27.54
CDN Dollar0.7590-0.0012
Natural Gas2.459+0.026

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.19+0.01
Metalex Ventures0.06+0.00
Russel Metals21.48-0.07
Copper Mountain Mining0.42+0.03
Colorado Resources0.08+0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.45
Diamcor Mining0.90+0.02


2206152234 Lost Creek Lane
3 bedrooms 3 baths
more details
Click here to feature your property
Please wait... loading

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

Collateral mortgage

Photo: Thinkstock.comMost of the time I recommend that my clients not take a collateral type mortgage product, as it locks you in with the current lender and at maturity the mortgage is costly to tran...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council