NU Online News Service, Oct. 28, 2003, 5:39 p.m. EST – Manulife Financial Corp., Toronto, says the rebound in world stock prices helped it increase third quarter earnings by boosting fee revenue and investment income.
The company is reporting the equivalent of $292 million in net income in U.S. currency for the latest quarter on $2.9 billion in revenue, up from $207 million in net income on $2.7 billion in revenue for the third quarter of 2002.
In local currency, the company is reporting 395 million Canadian dollars in net income on 4 billion Canadian dollars in revenue, compared with 327 million Canadian dollars in net income on 4.2 billion Canadian dollars in revenue.