{"id":5853,"date":"2009-03-11T19:18:30","date_gmt":"2009-03-11T23:18:30","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=5853"},"modified":"2009-03-11T19:18:30","modified_gmt":"2009-03-11T23:18:30","slug":"pow-results-4q08","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=5853","title":{"rendered":"POW: Results 4Q08"},"content":{"rendered":"<p>Power Corporation <a href=\"http:\/\/www.newswire.ca\/en\/releases\/archive\/March2009\/11\/c7340.html\">has announced<\/a>:<\/p>\n<blockquote><p>Power Financial Corporation&#8217;s operating earnings for the year ended December 31, 2008 were $1,974 million or $2.69 per share, compared with $2,082 million or $2.84 per share in 2007.<\/p>\n<p>Other items, not included in operating earnings, were a net charge of $637 million or $0.90 per share in 2008, compared with a net charge of $38 million or $0.05 in 2007. Other items in 2008 consisted of Power Financial&#8217;s share of non-recurring items recorded by Lifeco, IGM and Pargesa. The main components of other items in 2008 were the write-down of intangibles assets<br \/>\nand goodwill relating to the acquisition of Putnam in 2007 ($983 million), the gain from the sale of health business at Great-West Life &#038; Annuity ($472 milion), and the write-down of Pargesa&#8217;s investments in Lafarge and Pernod Ricard ($328 million for 2008).<\/p>\n<p>As a result, net earnings were $1,337 million or $1.79 per share in 2008, compared with $2,044 million or $2.79 per share in 2007.<\/p><\/blockquote>\n<p>About three-quarters of net consolidated annual earnings were derived from Great-West Lifeco.<\/p>\n<p>Power Corp. issues tracked by HIMIPref&trade; are <a href=\"http:\/\/www.prefblog.com\/?p=181\">POW.PR.A<\/a>, <a href=\"http:\/\/www.prefblog.com\/?p=385\">POW.PR.B<\/a>, POW.PR.C, POW.PR.D and POW.PR.F. The first four are included in the PerpetualDiscount Subindex; POW.PR.F has been relegated to &#8220;Scraps&#8221; on volume concerns. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Power Corporation has announced: Power Financial Corporation&#8217;s operating earnings for the year ended December 31, 2008 were $1,974 million or $2.69 per share, compared with $2,082 million or $2.84 per share in 2007. Other items, &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-5853","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5853"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/5853\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}