Brookfield Asset Management Inc. had a smaller profit in the fourth quarter, even though revenue was up 14.6 per cent from the year-earlier period.
The Toronto-based company, which has numerous publicly traded subsidiaries and other holdings in the real estate, resource and power-generation industries, said Friday its fourth-quarter quarter profit fell to $102-million (U.S.).
That's the equivalent of 15 cents per diluted share in the fourth quarter, down from 27 cents per share or $171-million in the fourth quarter of 2008.
At the same time, Brookfield's revenue rose to $3.4-billion in the three months ended Dec. 31, up from $3.02-billion in the year-earlier quarter.
Annual income fell to $454-million or 71 cents per share in 2009, down from $649-million or $1.02 per share in 2008.
Brookfield's annual revenue also fell, to $12.1-billion in 2009 from $12.9-billion in 2008 - a decline of about six per cent.