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

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.

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