Strong Earnings Growth
Adjusted net earnings from continuing operations were $883 million, up 19% year-over-year, with Q2 adjusted net earnings at $1.38 per share, up 21% from last year.
Robust Performance from Great-West Lifeco and IGM
Great-West contribution to Power's adjusted earnings was up 12% year-over-year. IGM's contribution to adjusted earnings was up 15% year-over-year, driven by record AUM&A at IG Wealth and Mackenzie.
Strong Alternative Investment Platform Results
Sagard's contribution to earnings was $106 million, up from $27 million last year, with a significant increase driven by fair value increases in private equity and higher net carried interest.
Increased Net Asset Value
Power Corp's net asset value (NAV) per share was $64.76 as of June 30, up 28% year-over-year.
Successful Share Buyback Program
The company repurchased 1.4 million shares worth $74 million, with a year-to-date total of 4.4 million shares.
Significant Growth in Wealthsimple
Wealthsimple's AUA increased from $44 billion to $85 billion year-over-year, with a client base of 2.8 million Canadians.