Skip to main content
//empty //empty

Brookfield Asset Management CEO Bruce Flatt is pictured in May, 2012. Brookfield more than doubled its profit in the second quarter of 2013.

Brett Gundlock/Reuters

Brookfield Asset Management Inc. is reporting $802-million (U.S.) of net income and $464-million of funds from operations for common shareholders in the second quarter.

Both results were more than double the levels a year earlier, when the Toronto-based conglomerate had $379-million of net income and $159-million of funds from operations.

On a per-share basis, net income was 31 cents and funds from operations was 68 cents in the three months ended June 30, up from 17 cents and 20 cents respectively in the second quarter of 2012.

Story continues below advertisement

Brookfield is one of Canada's largest asset managers, with investments in a wide number of publicly traded entities primarily focused on real estate, power generation and natural resources, particularly in the forestry sector.

"Asset management fees increased 72 per cent during the quarter and virtually all of our operating groups are performing well and positioned for growth," said Bruce Flatt, Brookfield's chief executive officer.

"We closed a number of realizations and raised over $14-billion of fund commitments for new investments," Flatt added. "We are also seeing attractive opportunities to put money to work in all of our businesses."

Among the main subsidiaries within the Brookfield group are: Brookfield Office Properties Inc., Brookfield Renewable Energy Partners and Brookfield Infrastructure Partners.

Report an error
Tickers mentioned in this story
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies