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Article: Brascade Announces Fourth Quarter Financial Results
- Article from:
- CCNMatthews Newswire
- Article date:
- March 30, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(CCNMatthews - March 30, 2007) - Brascade
Corporation (TSX:BCA.PR.A) today announced net income for the year
ended December 31, 2006 of $169 million, compared to $1,285 million
for 2005. The 2006 results include a gain of $142 million on the
disposition of Brascade's remaining common shares in Falconbridge
Limited.
The 2005 results included $1,160 million in gains from the
restructuring and partial monetization of Brascade's investment in
the mining and metal sector, held through Falconbridge Limited, net
of tax and other non-cash items. The 2005 results also included an
$87 million contribution from that investment, which was
substantially sold during the third quarter of ...