August 5, 2011 / 8:14 PM / 6 years ago

UPDATE 1-Power Corp profit doubles, paced by financial unit

TORONTO, Aug 5 (Reuters) - Power Corp of Canada (POW.TO) said on Friday its second-quarter profit more than doubled, topping estimates, due to a stronger contribution from its financial subsidiary.

Power, the parent company of Power Financial (PWF.TO), earned C$356 million ($363 million), or 77 Canadian cents a share, up from C$165 million, or 36 Canadian cents a share, in the year-before period.

Analysts polled by Thomson Reuters had expected, on average, a profit of 59 Canadian cents a share.

$1=$0.98 Canadian Reporting by Cameron French; editing by Peter Galloway

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