March 19, 2010 / 9:23 PM / 8 years ago

UPDATE 1-Manulife revises adjusted profit estimates

CALGARY, Alberta, March 19 (Reuters) - Manulife Financial Corp (MFC.TO) said on Friday it cut its adjusted earnings from operations estimates for the last part of 2009 and for each quarter of 2010 after determining it overstated actual and expected gains.

Manulife said its estimate for adjusted earnings from operations for each quarter of this year is between C$700 million and C$800 million ($693 million and $792 million), a reduction of C$50 million.

For the quarter ended Sept. 30, 2009, adjusted operating earnings were C$736 million, down from C$803 million, and for the last quarter of 2009, the revised figure was C$719 million, down from the previously stated C$781 million.

Manulife said the revision had no impact on its previously reported GAAP financial statements.

$1=$1.01 Canadian Reporting by Jeffrey Jones; editing by Peter Galloway

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below