Go to the Globe and Mail homepage

Jump to main navigationJump to main content

The Onex logo is displayed at the company's annual general meeting in Toronto on Thursday, May 10, 2012. (Nathan Denette/THE CANADIAN PRESS)
The Onex logo is displayed at the company's annual general meeting in Toronto on Thursday, May 10, 2012. (Nathan Denette/THE CANADIAN PRESS)

Onex profit jumps as revenue climbs 16 per cent Add to ...

Onex Corp. (TSX:OCX) reported Friday it earned US$399-million in its latest quarter as revenue grew 16 per cent.

The private equity firm, which keeps its books in U.S. dollars, said the profit amounted to $3.22 per share for the quarter ended Sept. 30 compared with a profit of $98-million or $1.50 per share a year ago.

More Related to this Story

The jump in profit came as Onex recorded a $551-million recovery of income taxes compared with $89-million a year ago.

Revenue for the quarter totalled $7.13-billion, up from $6.14-billion, boosted by acquisitions made last year.

Onex noted that it has a strong financial position as it looks for new acquisitions with $1.5-billion of cash and near-cash equivalents and roughly $1-billion in undrawn committed capital.

The company holds investments in a wide range of companies including a large stake in electronics maker Celestica Inc. (TSX:CLS).

Follow us on Twitter: @GlobeBusiness

 
  • OCX-T
  • CLS-N
  • CLS-T
Live Discussion of OCX on StockTwits
More Discussion on OCX-T
Live Discussion of CLS on StockTwits
More Discussion on CLS-N
Live Discussion of CLS on StockTwits
More Discussion on CLS-T

Topics:

In the know

Most popular video »

Highlights

More from The Globe and Mail

Most Popular Stories