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Winnipeg Free Press - PRINT EDITION
Manulife profit $1.2B during Q1
TORONTO -- Manulife Financial Corp. (TSX:MFC) had a $1.2-billion profit in the first quarter, a 22 per cent jump from the comparable period of 2011 and a sharp contrast to the $69-million loss it reported in the fourth quarter.
The Canadian life insurance giant attributed the improvement to a number of special items as well as strong operational performance in Canada and Asia.
The profit amounted to 66 cents per basic share, before accounting for full dilution, up from 54 cents per share or $985 million in the first quarter of 2011. Earnings after full dilution was 62 cents per share, up from 53 cents per share.
Manulife's revenue from premiums in the first quarter was relatively constant at $4.5 billion but investment income was down significantly.
-- The Canadian Press
Republished from the Winnipeg Free Press print edition May 4, 2012 B6
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