BUSINESS

Power Financial Q3 profit slips five per cent to $434 million

11/14/2013 11:09 EST | Updated 01/23/2014 06:56 EST
MONTREAL - Power Financial Corp.'s third-quarter profit was down slightly from a year ago, dropping about five per cent to $434 million.

The Montreal-based company (TSX:PWF) says its net income dropped to 61 cents per share in the three months ended Sept. 30, from $458 million or 65 cents a year earlier.

Excluding costs associated with the purchase of Irish Life by its Great-West Lifeco subsidiary, Power Financial's operating earnings were $476 million or 67 cents per share.