Brookfield Investments Corporation Announces Second Quarter Financial Results

TORONTO, ONTARIO--(Marketwired - Aug. 29, 2013) - Brookfield Investments Corporation (the "company") (TSX VENTURE:BRN.PR.A) reported $25 million of net income or $0.50 per common share for the three months ended June 30, 2013 compared with $9 million or $0.18 per common share for the same period in 2012. Net income increased by $18 million from higher pricing and increased volumes realized within the company's forest product investments, which are continuing to benefit from the U.S. housing recovery.

Comprehensive income, which consists of net income and other comprehensive income, was a loss of $414 million compared to $9 million in the same period of the prior year. The current period included mark-to-market losses on the company's available-for-sale investments in Brookfield Property Partners L.P. and Brookfield Residential Properties Inc., as a result of a decrease in their respective share prices.

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 over $175 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.

CONSOLIDATED BALANCE SHEETS
				(unaudited)
				June 30		December 31
(US$ millions)				2013		2012
Assets
	Current assets
		Deposits receivable		$	161	$	180
		Securities			158		224
		Investments - Securities			-		943
	Non-current assets
		Investments - Securities			301		245
		Investments - Associates			1,453		740
				$	2,073	$	2,332
Liabilities
	Current liabilities
		Accounts payable		$	4	$	1
			Retractable preferred shares		1,109		1,142
			Deferred income tax liabilities		18		58
Equity					942		1,131
				$	2,073	$	2,322

CONSOLIDATED STATEMENTS OF OPERATIONS
		Three months ended						Six months ended
(unaudited)		June 30						June 30
(US$ millions, except per share amounts)		2013			2012			2013			2012
Investment Income
	Equity accounted income (loss)	$	30		$	4		$	74		$	(3)
	Dividend and interest income		3			10			14			21
	Foreign exchange income		-			2			2			2
			33			16			90			20
Expenses
	Interest		(8	)		(7	)		(15)			(14)
Net income before income taxes			25			9			75			6
	Income tax expense		-			-			(4)			-
Net income		$	25		$	9		$	71		$	6
Net income per common share		$	0.50		$	0.18		$	1.42		$	0.12

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
			Three months ended						Six months ended
(unaudited)			June 30						June 30
(US$ millions)			2013			2012			2013			2012
Net income			$	25		$	9		$	71		$	6
Other comprehensive (loss) income
	Items that may be reclassified to net income
		Foreign currency translation		(7	)		(11	)		(39	)		6
		Available-for-sale securities - fair value changes		(114	)		(1	)		(14	)		122
		Equity accounted other comprehensive loss		(358	)		(3	)		(360	)		(3	)
		Deferred income tax		40			(3	)		40			(3	)
				(439	)		(18	)		(373	)		122
Comprehensive (loss) income			$	(414	)	$	(9	)	$	(302	)	$	128