Results are out14 Feb 2008 10:28 ET
TSX/NYSE/PSE: MFC; SEHK: 0945
TORONTO, Feb. 14 /CNW/ - Manulife Financial Corporation today reported
record shareholders' net income of $4,302 million for 2007, an increase of
eight per cent over the full year 2006. Fully diluted earnings per share were
$2.78, an increase of 11 per cent compared to the $2.51 reported a year ago.
Return on common shareholders' equity(1) was a record 18.4 per cent for 2007,
up from 16.8 per cent in 2006.
"I am very pleased that virtually all of our businesses achieved record
sales levels for the quarter and for the full year," said Mr. Dominic
D'Alessandro President and Chief Executive Officer. "This positive sales
momentum together with our exceptional asset quality and strong capital
position will allow us to deal with the unsettled markets that are likely to
continue to prevail for some months yet."
Fourth quarter 2007 shareholders' earnings were a record $1,144 million,
an increase of 4 per cent from one year ago. Fully diluted earnings per share
were $0.75, an increase of seven per cent over the fourth quarter of last
year. Earnings year over year were negatively impacted by $163 million due to
the strengthening of the Canadian dollar. On a constant currency basis, growth
in shareholders' earnings and earnings per share would have been 19 per cent
and 23 per cent, respectively. Fourth quarter return on common shareholders'
equity(1) was a Company record of 20.5 per cent, a rise of 250 basis points
over last year.