OTTAWA (dpa-AFX) - Brookfield Asset Management Inc. (BAM, BAM_A.TO) said its first quarter profit attributable to shareholders was $416 million or $0.60 per share versus $278 million or $0.41 per share a year ago.
Funds from operations for Brookfield shareholders rose to $283 million or $0.40 per share from $231 million or $0.33 per share in the same quarter last year.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.31 per share. Analysts' estimates typically exclude special items.
Total revenues grew to $4.04 billion from $3.41 billion in the prior-year quarter. Analysts expected revenues of $4.51 billion.
'Investments we made over the past four years are now making a significant contribution to our results, and we are seeing strong performance from virtually all our major businesses,' commented Bruce Flatt, CEO of Brookfield. 'Our global operations provide us a competitive advantage, and we are focused on expanding our operations through organic growth initiatives and acquisitions.'
Further, the Board of Directors declared a quarterly dividend of $0.14 per share, payable on August 31, 2012, to shareholders of record as at the close of business on August 1, 2012.
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© 2012 AFX News
