Brookfield Asset Management Announces Strong 2008 Second Quarter Results
Friday August 8, 8:19 am ET
TORONTO, ONTARIO--(MARKET WIRE)--Aug 8, 2008 -- Brookfield Asset Management Inc. (Toronto:BAM.TO - News)(BAM - News)(AEX: BAMA) -
Investors, analysts and other interested parties can access Brookfield Asset Management's 2008 Q2 Results as well as the Shareholders' Letter and Supplemental Financial Information on Brookfield's web site under the Investor Centre/Financial Reports section at www.brookfield.com.
The 2008 Q2 Results conference call can be accessed via webcast on August 8, 2008 at 11 a.m. Eastern Time at www.brookfield.com or via teleconference at 1-800-319-4610 toll free in North America. For overseas calls please dial 1-604-638-5340, at approximately 10:50 a.m. Eastern Time. The teleconference taped rebroadcast can be accessed at 1-800-319-6413 or 604-638-9010 (Password 2811).
Brookfield Asset Management Inc. (Toronto:BAM.TO - News)(BAM - News)(AEX: BAMA) today announced its results for the second quarter ended June 30, 2008.
Cash Flow From Operations
Cash flow from operations for the second quarter totalled $378 million ($0.62 per share). Operating cash flow in the same quarter in 2007 was $340 million ($0.55 per share) on a comparable basis, which excludes a security disposition gain of $100 million, or $440 million ($0.72 per share) including the gain. On a comparable basis, operating cash flow per share increased by 13% quarter-over-quarter due to improved water levels and pricing in the company's renewable power business and stable growth within our commercial office business.
