March 13, 2013 / 1:27 PM / in 5 years

CORRECTED-Power Financial profit falls short of expectations

(In today’s story, corrects year-earlier adjusted earnings per share in second paragraph, adds “operating earnings” in lead for Great-West)

TORONTO, March 13 (Reuters) - Canada’s Power Financial Corp said on Wednesday profit fell in the fourth quarter as earnings at its IGM Financial mutual funds unit dipped and operating earnings at its Great-West Lifeco insurance unit were little changed.

The Montreal-based company said it had operating earnings of C$406 million ($396 million), or 57 Canadian cents a share, down from C$422 million, or 60 Canadian cents, in the same quarter a year earlier.

$1 = 1.0254 Canadian dollars Reporting by Andrea Hopkins; Editing by Frank McGurty and Bob Burgdorfer

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