TORONTO — CI Financial Corp. says it earned a fourth-quarter profit of $140.4 million as its revenue fell compared with the same period a year earlier.
The investment manager says the profit amounted to 57 cents per diluted share for the quarter ended Dec. 31, compared with a profit of $139.5 million or 51 cents per diluted share a year earlier.
Revenue totalled $529.2 million, down from $594.4 million.
On an adjusted basis, CI says it earned 57 cents per share for the quarter, down from an adjusted profit of 63 cents per share a year earlier.
Analysts on average had expected a profit of 57 cents per share, according to Thomson Reuters Eikon.
Average assets under management amounted to $129.3 billion for the last three months of 2018, down from $142.5 billion in the quarter ended Dec. 31, 2017.
Companies in this story: (TSX:CIX)
The Canadian Press