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COPYRIGHT 2001 Asia Pulse Pty Ltd
(Full text of this release can be found at http://www.asianet.com.au)
TORONTO, July 25 /CNW-AsiaNet/ - Sun Life Financial Services of Canada Inc. (NYSE/TSE: "SLC") today reported record shareholder net income of $212 ($US 139) million for the quarter ending June 30, 2001, an increase of 8 per cent over the $197 ($US 130) million earned in the same period in 2000. Earnings per share of $0.50 ($US 0.33) were up 6 per cent from the $0.47 ($US 0.31) per share earned in the second quarter, a year ago. Revenues for the quarter were $3,945 ($US 2,595) million, compared with $4,172 ($US 2,745) million in the second quarter of 2000, a decrease of 5 per cent. Assets under management were $326 ($US 214) billion at quarter end, an increase of 3 per cent compared with the $316 ($US 208) billion at the end of the first quarter of 2001, and a decline of 1 per cent relative to assets under management of $329 ($US 216) billion at June 30, 2000. Return on equity was 12.3 per cent in the second quarter, up from 12.0 per cent in the first quarter of 2001. All U.S. currency amounts were converted from Canadian dollars at the June 30, 2001 exchange rate of $1.52.
"Sun Life Financial of Canada's second quarter results demonstrate the Corporation's ability to maintain stable earnings performance in a challenging financial environment," said Donald A. Stewart, Chairman...
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