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Portfolio > Economy & Markets > Fixed Income

Great-West Reports Higher 2nd Quarter Net Income

By Staff Writer

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NU Online News Service, Aug. 1, 2003, 3:55 p.m. EDT – Great-West Lifeco Inc., Winnipeg, is reporting the equivalent of $198 million in net income in U.S. currency for the second quarter on $4.4 billion in revenue, up from $160 million in net income on $4.1 billion in revenue for the second quarter of 2002.

In local currency, the company is reporting 267 million Canadian dollars in net income for the latest quarter on 6 billion Canadian dollars in revenue, compared with 243 million Canadian dollars in net income on 6.3 billion Canadian dollars in revenue.

The conversions here use an exchange rate of $1=1.3475 Canadian dollars for the 2003 results, and an exchange rate of $1=1.519 Canadian dollars for the 2002 results. The exchange rates come from OANDA Corp., New York.

Great-West is an affiliate of the Power Company of America, Montreal.

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