Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Classified Sites

The Canadian Press - ONLINE EDITION

Brookfield Asset Management reports US$1.6B Q2 profit, double from a year ago

TORONTO - Brookfield Asset Management Inc. (TSX:BAM.A) says it doubled its profits to US$1.6 billion in the latest quarter, partly due to increases in management fees.

The Toronto-based company said the profit amounted to $1.19 per diluted share for the three-month period ended June 30.

This compared to net income of US$802 million, or 31 cents, in the second quarter a year ago.

Revenues totalled US$4.83 billion, down from $5.16 billion year over year.

Funds from operations came in at US$569 million or 84 cents per share, up from $464 million or 68 cents per share a year ago on realized disposition gains and capital that had been deployed over the year.

"We are continuing to see clients allocate an increasing portion of their capital to Brookfield's real asset investment strategies, due to the superior risk adjusted returns generated by these assets," said CEO Bruce Flatt in a statement.

"Our flagship listed partnerships and private funds are well positioned to deliver long-term performance for clients and shareholders."

The company said it is continuing to invest in emerging markets and Europe, and have announced plans to acquire office properties in India, a port and rail network in Brazil and wind farms in Ireland.

Brookfield, which focuses on real estate, renewable energy, infrastructure and private equity, had more than US$192 billion in assets under management at the end of the quarter.

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.


Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media

Canadian Mortgage Rates