Net income from continuing operations declined 27 percent to C$324 million ($311 million), or 53 cents a share, from C$441 million, or 74 cents, a year earlier, the Toronto-based firm said today in a statement. Operating profit, which excludes some items, was 69 cents a share, compared with the 64-cent average estimate of 11 analysts surveyed by Bloomberg.
“Sun Life’s results were driven by strong underlying performance across our four strategic growth pillars,” Chief Executive Officer Dean Connor, 57, said in the statement.
Sun Life gained 0.3 percent to C$35.43 at 4 p.m. in Toronto. The shares have climbed 34 percent this year, outpacing the 16 percent advance of the 46-company Standard & Poor’s/TSX Financials Index.
To contact the reporter on this story: Katia Dmitrieva in Toronto at email@example.com
To contact the editor responsible for this story: David Scanlan at firstname.lastname@example.org