Posted AT 9:11 AM EDT on 13/05/08
Steep ABCP writedown hits DundeeWealth
Globe and Mail Update — DundeeWealth Inc. has taken an additional $75.9-million writedown on asset-backed commercial paper – on top of its $96-million ABCP writedown last year – resulting in a loss of $49.8-million in the first quarter of 2008, the wealth management company reported Tuesday.
Consolidated revenue was $211.3-million in the first quarter, a decline from $226.
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