Brookfield Asset Management FFO jumps on housing business
May 9 (Reuters) - Brookfield Asset Management's funds from operation (FFO), a measure of cash flow for real estate management companies, rose 34 percent in the first quarter on strong North American housing-related businesses.
FFO rose to $689 million, or $1.03 per share, from $515 million, or 77 cents per share, a year earlier.
Revenue rose 23 percent to $4.95 billion, while direct costs climbed 19 percent to $3.42 billion.
The Canadian property, power and infrastructure investor said its net income fell 4 percent to $697 million, or 51 cents per share, reflecting lower level of fair value gains.
- Scots vote on independence, United Kingdom's fate on knife-edge |
- Australian PM says police raids follow IS linked beheading plot |
- Islamic State shows captive British journalist in new video
- Chinese hacked U.S. military contractors: Senate panel
- China not warlike, says Xi, as border standoff dominates India trip