Brookfield Investments Corporation Announces Third Quarter Financial Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 11/29/11 -- Brookfield Investments Corporation ("Brookfield Investments" or the "company") (TSX VENTURE: BRN.PR.A) recorded net income of $37 million or $0.81 per common share for the three months ended September 30, 2011 compared to $24 million or $0.52 per common share for the same period in the prior year. Net income in the current quarter increased primarily as a result a $10 million increase in the fair value of the company's indirect investment in Canary Wharf, which is held through its equity accounted investment in Brookfield Europe L.P., as well as a higher amount of unrealized foreign currency revaluation gains. These amounts were partially offset by a decrease in Canary Wharf's dividend by $3 million to $6 million, when compared to the prior year.
The company reported a comprehensive loss of $319 million for the quarter ended September 30, 2011, which consists of net income and other comprehensive loss, compared to comprehensive income of $128 million for the same period last year. The current period loss was primarily the result of a $348 million unrealized loss on the company's investment securities, which are recorded at fair value.
The company's Board of Directors declared the regular quarterly dividend of C$0.29375 per share on its Senior Preferred Shares, Series A payable on December 31, 2011 to shareholders of record on December 20, 2011.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield Asset Management Inc. group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc., a global asset manager focused on property, power and infrastructure assets.
Consolidated Statements of Operations
Consolidated Statements of Comprehensive (Loss) Income
Consolidated Balance Sheets
Contacts:
Brookfield Investments Corporation
Derek E. Gorgi
Vice President and Chief Financial Officer
416-363-9491
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Datum: 29.11.2011 - 15:42 Uhr
Sprache: Deutsch
News-ID 1061418
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Commercial Real Estate
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