All figures are in Canadian dollars unless otherwise noted. Readers are referred to the sections entitled “Non-IFRS Financial Measures” and “Forward-Looking Statements” at the end of this release.
MONTRÉAL, March 18, 2015 /CNW Telbec/ – Power Financial Corporation (TSX: PWF) today reported earnings results for the fourth quarter and twelve months ended December 31, 2014.
FOURTH QUARTER RESULTS
Operating earnings attributable to common shareholders (a non-IFRS financial measure) for the quarter endedDecember 31, 2014 were $525 million or $0.74 per share, compared with $403 million or $0.57 per share in 2013.
Other items, not included in operating earnings, were a net charge of $19 million mainly comprised of the Corporation’s share of the gain realized by Groupe Bruxelles Lambert (GBL) on the sale of part of its interest in Total SA (Total), offset by the Corporation’s share of the after-tax charge recorded by IGM Financial Inc. (IGM). In the corresponding period of 2013, other items represented a contribution of $190 million. Additional details on other items can be found below in the IGM Financial section and in the table entitled “Other Items”. Read the rest of this entry »