Canadian fund manager AGF posts profit as income tax expenses fall

Tue Jun 24, 2014 8:21am EDT
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June 24 (Reuters) - Canadian fund manager AGF Management Ltd reported a quarterly profit, helped by a nearly 84 percent drop in income tax expenses.

The company posted a net income from continuing operations of C$14.5 million ($13.4 million), or 17 Canadian cents per share, in the second quarter ended May 31, compared with a loss of C$10.4 million, or 12 Canadian cents per share, a year earlier.

Total revenue fell about 6 percent to C$119.1 million. ($1 = 1.0853 Canadian Dollars) (Reporting by Cameron French in Toronto and Ashutosh Pandey in Bangalore; Editing by Sriraj Kalluvila)