Aimia reports $14.4M second-quarter profit, down from $43.5 M a year ago

Aimia reports $14.4M second-quarter profit, down from $43.5 M a year ago
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MONTREAL — Aimia Inc. says it earned $14.4 million in its latest quarter, down from $43.5 million in the same quarter last year.

The Montreal-based company says the profit amounted to 12 cents per share for the quarter ended June 30 compared with a profit of 29 cents per share a year ago.

Aimia’s profit from continuing operations totalled $6.1 million or three cents per share for the quarter, down from $34.7 million or 22 cents per share in the same quarter a year ago.

Aimia has been working to reinvent itself since it sold its flagship Aeroplan program to Air Canada last year.

The Montreal-based company acquired a 10.85 per cent stake in Clear Media Ltd., one of China’s largest outdoor advertising firms, earlier this year.

The investment followed a decision to spin off its loyalty points business in a deal that saw it obtain a 49.3 stake per cent stake in Kognitiv.

This report by The Canadian Press was first published Sept. 15, 2020.

Companies in this story: (TSX:AIM)

The Canadian Press

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