The global credit crunch and the resulting poor performance of equities played havoc with financial services firms’ bottom lines in the final quarter of 2007. Only 40% of 48 publicly traded companies surveyed reported improved earnings in the quarter than in the same period a year earlier.The big winner in Investment Executive’s quarterly profit survey […]
Fourth quarter profit revised lower
Western Financial Group today reported record revenues and net income for the year ended Dec. 31, 2007. The High River, Alta.-based firm said net income increased 52.9% to $12.2 million from $8 million a year ago.Basic earnings per share were 24¢ up from 22¢ in 2006.Revenue for the year increased by 38.1% to $114.1 million […]
Insurer credits business growth across the country
Market conditions present challenges
Income rises at Great-West Lifeco, IGM Financial
Insurer intends to boost visibility in Canadian market
Bank reports record total revenues
Funds see net redemptions as value managers continued to be out of favour
Although income trust earnings have dropped quite heavily in the past year, those of equities are mainly flat