Brookfield Asset Management Reports 23% Increase in Second Quarter Cash Flow from Operations
biz.yahoo.com
Thursday August 3, 8:00 am ET
TORONTO, ONTARIO--(MARKET WIRE)--Aug 3, 2006 -- Brookfield Asset Management Inc. (TSX:BAM.TO)(NYSE:BAM) -
Investors, analysts and other interested parties can access Brookfield Asset Management's 2006 Second Quarter Results as well as the Shareholders' Letter and Supplemental Financial Information on Brookfield's web site under the Investor Centre/Financial Reports and Investor Presentations section at brookfield.com.
The Second Quarter 2006 Results conference call can be accessed via webcast on August 3, 2006 at 3 p.m. EST at www.brookfield.com or via teleconference at 1-888-789-0150, toll free in North America. For overseas calls please dial 416-695-5261, at approximately 2:50 p.m. EST. The teleconference taped rebroadcast can be accessed at 1-888-509-0081 or 416-695-5275 (password: 626906).
Brookfield Asset Management Inc. (TSX:BAM.TO)(NYSE:BAM) today announced:
- A 23% increase in operating cash flow for the second quarter ended June 30, 2006. Operating cash flow totalled $267 million ($0.64 per share), compared with $215 million ($0.52 per share) reported in the same quarter last year.
- $10 billion of assets under management were added to operations including:
-- $5 billion of core office properties,
-- $2.5 billion of transmission infrastructure assets,
-- $0.5 billion of power generation assets, and
-- $2.0 billion of fixed income and real estate securities.
- Continued growth was achieved in our management platforms across our property, power, timber and transmission infrastructure sectors.
Bruce Flatt, Managing Partner and CEO of Brookfield Asset Management commented: "Our results in the second quarter of 2006 reflect strong performance across almost all of our operations and success in advancing a number of our strategic initiatives over the last few quarters." |
