Subsidiaries drive increase in profitability
Raises dividend 11%
Mortgage lender Equitable Group Inc. today reported strong growth in earnings, assets and mortgage production for the third quarter ended September 30.Net earnings grew 47% to $3.93 million from $2.67 million in the third quarter of 2003.Diluted earnings per share increased 31% to 34¢ from 26¢ in the third quarter last year.Conventional mortgage production increased […]
Establishes US$232 million reserve for bid-rigging probe
Mutual fund manager Mavrix Fund Management Inc. today reported a net loss of $400,000, or 5¢ per share, for the third quarter ended September 30.For the nine month period, the net loss was $1.3 million, 19¢ per share.Comparative results are unavailable, as this quarter represents Mavrix’s third quarterly report prepared as a public company.Total assets […]
Expanded mandates boost assets under management
Manulife Financial Corp. today report a big jump in third quarter profit due to part to the acquisition of John Hancock Financial Services.Net income for the quarter ended September 30 rose 81% to $717 million or 88¢ a share, up from $396 million, or 85¢ a share, a year earlier.Manulife said John Hancock, which it […]
Total premiums grow by 20%
Strong demand in Europe drives growth in revenue
Insurer records record underwriting profit in Q3