CI Financial reports $140.4M Q4 profit, revenue falls from year ago - InfoNews

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CI Financial reports $140.4M Q4 profit, revenue falls from year ago

CI Financial Corp. logo is seen in this undated handout photo. THE CANADIAN PRESS/HO, CI Financial Corp. *MANDATORY CREDIT*
February 08, 2019 - 4:45 AM

TORONTO - CI Financial Corp. says it earned a fourth-quarter profit of $140.4 million as its revenue fell compared with the same period a year earlier.

The investment manager says the profit amounted to 57 cents per diluted share for the quarter ended Dec. 31, compared with a profit of $139.5 million or 51 cents per diluted share a year earlier.

Revenue totalled $529.2 million, down from $594.4 million.

On an adjusted basis, CI says it earned 57 cents per share for the quarter, down from an adjusted profit of 63 cents per share a year earlier.

Analysts on average had expected a profit of 57 cents per share, according to Thomson Reuters Eikon.

Average assets under management amounted to $129.3 billion for the last three months of 2018, down from $142.5 billion in the quarter ended Dec. 31, 2017.

Companies in this story: (TSX:CIX)

News from © The Canadian Press, 2019
The Canadian Press

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