November 11, 2011 / 9:36 PM / 6 years ago

UPDATE 1-Power Corp profit rises on financial unit strength

TORONTO, Nov 11 (Reuters) - Power Corp of Canada’s (POW.TO) quarterly profit rose on stronger results at its financial services subsidiary and higher investment income, the holding company said on Friday.

Power Corp, which is controlled by Montreal’s Desmarais family, earned C$190 million ($188 million), or 41 Canadian cents share, in the quarter ended Sept. 30. That compared with a year-earlier profit of C$169 million, or 37 Canadian cents a share.

Power Corp’s main asset is a majority stake in Power Financial Corp (PWF.TO).

$1=$1.01 Canadian Reporting by Cameron French and Allison Martell; editing by Peter Galloway

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