Brookfield Asset profit halves on lower unit revenue

Fri Feb 17, 2012 8:44am EST
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article
[-] Text [+]

(Reuters) - Canadian property, power and infrastructure investor Brookfield Asset Management Inc's (BAMa.TO: Quote) fourth-quarter profit halved hurt in part by lower revenue from its renewable power unit.

The company earned $960 million, or 86 cents a share, down from $2.07 billion, or $1.80 a share, a year ago.

Revenue rose about 12 percent to $4.12 billion. Quarterly revenue from its renewable power unit fell 22 percent.

Brookfield, however, raised its quarterly dividend by 8 percent to 14 cents per share.

Shares of the company closed at C$31.53 on Thursday on the Toronto Stock Exchange.

(Reporting by Shounak Dasgupta in Bangalore; Editing by Roshni Menon)