Brookfield Asset Management Q3 2010 net profit stays flat Y/Y at USD 112m

(ADPnews) - Nov 5, 2010 - Canadian green power and infrastructure asset manager Brookfield Asset Management Inc (TSE:BAM.A) reported today a net profit of USD 112 million (EUR 79m) for the third quarter of 2010, flat on the year.

Earnings per share (EPS) stood at USD 0.16. The company said it would distribute a dividend of USD 0.13 per share on February 28, 2011 to shareholders of record on February 1, 2011.

"Recent investments and several major initiatives combined with organic growth in our existing operations have set the stage for Brookfield to build on our franchise and continue to create significant shareholder value," Bruce Flatt, Brookfield chief executive, said.

Cash flow from operations rose to USD 354 million from USD 149 million a year ago, reflecting strong results at the company's commercial office operations, driven by high occupancy rates and a better leasing market situation. The renewable energy business brought USD 46 million in operating cash flow, down from USD 56 million a year before.

Third-quarter revenue was USD 3.84 billion, up from USD 2.84 billion.

(USD 1.0 = EUR 0.706)

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