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Brookfield Asset profit halves on lower unit revenue

Reuters
9:52 AM, E.T. | February 17, 2012
Energy & Resources, Real Estate
Tags: Brookfield Asset Management
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Canadian property, power and infrastructure investor Brookfield Asset Management Inc.'s (BAM.A-T) fourth-quarter profit halved hurt in part by lower revenue from its renewable power unit.

The company earned $960 million US, or 86 cents a share, down from $2.07 billion, or $1.80 a share, a year ago.

Revenue rose about 12 percent to $4.12 billion. Quarterly revenue from its renewable power unit fell 22 percent.

Brookfield, however, raised its quarterly dividend by 8 percent to 14 cents per share.

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