Tuesday, March 3rd-3.1°C
25405
25263

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

25194


Recent Trending




Today's Market
S&P TSX15133.85-130.20
S&P CDNX702.30-2.05
DJIA18203.37-85.26
Nasdaq4979.901-28.195
S&P 5002107.78-9.61
CDN Dollar0.8000-0.0006
Gold1206.00+2.00
Oil51.59-0.55
Lumber294.20-0.20
Natural Gas2.699-0.035

 
Okanagan Companies
Pacific Safety0.13-0.005
Knighthawk0.010.00
QHR Technologies Inc1.600.00
Cantex0.035-0.005
Anavex Life Sciences0.175-0.005
Metalex Ventures0.0450.00
Russel Metals25.21-0.33
Copper Mountain Mining1.25-0.04
Colorado Resources0.1350.00
ReliaBrand Inc0.0065-0.0015
Sunrise Resources Ltd0.045-0.005
Mission Ready Services0.215-0.01

 





FEATURED Property
20422381214 Mission Ridge Road
5 bedrooms 4 baths
$1,598,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Refinance your mortgage?

Canadian Mortgage rates are low and could be dropping down in time for the spring market following a drop in the Bank of Canada Rate on January 21 by 1/4% which will save new buyers and those with mo...


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...

_








Member of BC Press Council


25107