Onex Corp. reported net earnings of US$602-million in its latest quarter compared with US$501-million in the same quarter last year – a leap of 20.2 per cent propelled by higher asset-management earnings.
The private equity investment firm, which keeps its books in U.S. dollars, says the profit amounted to US$6.76 per diluted share for the quarter ended Sept. 30 compared with US$5.29 per diluted share in the same period a year earlier.
Onex says its segment net earnings, which excludes certain items, totalled US$607-million or US$6.59 per diluted share, up from US$515-million or US$5.39 per diluted share a year ago.
The Toronto-based company’s investing segment earnings totalled US$493-million compared with US$492-million 12 months before, while its asset management segment jumped to US$195-million from US$93-million in the same quarter last year.
Onex chairman and CEO Gerry Schwartz says Onex enjoyed a “very active quarter” with good momentum across all businesses.
He says investing capital per share grew by eight per cent and that fund performance at the company’s private equity platform was strong.
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