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Brookfield Business Partners Swings To Q4 Profit Vs a Year Ago

· 02/05/2021 02:25

07:16 AM EST, 02/05/2021 (MT Newswires) -- Brookfield Business Partners L.P. (BBU-UN.TO), which is in the process of buying Genworth MI Canada Inc. (MIC.TO), on Friday reported fourth quarter EPS of US$0.56 versus a loss of US$0.70 a year earlier. Net earnings for the quarter was US$85 million, compared with a net loss of US$105 million for Q4 2019.

Company FFO for the quarter was US$295 million, or $1.97 per unit, versus US$243 million, or US$1.61 per unit for the year ago quarter.

Net loss attributable to unitholders for the year ended December 31, 2020 was $169 million (loss of $1.13 per unit) compared to net income of $88 million, or $0.62 per unit in the prior year.

The Board of Directors declared a quarterly distribution of US$0.0625 per unit, payable on March 31, 2021.

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