August 28, 2014 16:57 ET
TORONTO, ONTARIO--(Marketwired - Aug. 28, 2014) - Brookfield Investments Corporation (the "company") (TSX VENTURE:BRN.PR.A) reported net income of $26 million or $0.53 per common share for the three months ended June 30, 2014 compared with $22 million, or $0.45 per common share for the same period in 2013. The increase in net income in the current period was due to a higher level of dividends received on the company's investment portfolio and positive foreign currency revaluation, partially offset by a higher level of forest products income recorded in the prior year. Net income on a six month basis was $116 million and $148 million in the current and prior year or $2.33 and $2.97 per share, respectively.
Comprehensive income, which consists of net income and other comprehensive income, was $113 million compared to loss of $441 million in the same period of 2013. Other comprehensive income was $87 million during the quarter, compared to a loss of $463 million in the second quarter of 2013. The current period benefited from favourable market performance of the company's investment portfolio relative to the prior year.
Brookfield Investments Corporation holds investments in the property and forest products sectors, as well as a portfolio of preferred shares issued by companies within the Brookfield group. The common shares of Brookfield Investments Corporation are wholly owned by Brookfield Asset Management Inc. Brookfield Asset Management Inc. is a global alternative asset manager with approximately $200 billion in assets under management, has over 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity and is co-listed on the New York and Toronto Stock Exchanges under the symbol BAM and BAM.A, respectively.
Derek Gorgi, Vice President and Chief Financial Officer, will be available at 416-363-9491 to answer any questions on the company's financial results.
Brookfield Investments CorporationDerek GorgiVice President and Chief Financial Officer416-363-9491
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