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Non-Tech : Brookfield Asset Management

BAM 53.96

+0.4%

Jan 9 9:30 AM EST

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From: JakeStraw	8/3/2007 7:46:22 AM
	of 75

Brookfield Asset Management Announces Second Quarter Results biz.yahoo.com Friday August 3, 7:25 am ET TORONTO, ONTARIO--(MARKET WIRE)--Aug 3, 2007 Brookfield Asset Management Inc. (Toronto:BAM.TO)(NYSE:BAM) today announced that cash flow from operations for the second quarter ended June 30, 2007 was $440 million ($0.72 per share), compared with $267 million ($0.43 per share) reported in the same quarter last year. Net income totalled $153 million ($0.24 per share) compared with $135 million ($0.20 per share) reported in the same period last year. Bruce Flatt, Managing Partner of Brookfield Asset Management, commented: "We achieved strong performance in most of our operations during the quarter, which is reflected in our financial results. For the first time in our history, cash flow from operations for the six months exceeded $1 billion. We remain focused on enhancing shareholder value and building out each of our operating platforms to enable us to achieve our long-term goals. To that end, we completed a number of key initiatives such as the acquisition of Longview Fibre Company to expand our timber operations and the announcement of an offer for Multiplex Group of Australia to expand the global presence of our asset management capabilities."

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