(Toronto) Onex on Friday posted net profit of US $ 602 million for its most recent quarter, up 20.2% from the profit of US $ 501 million for the same period a year earlier – growth attributed to asset management activities.
The holding company said its profit per share was US $ 6.76 for the quarter ended September 30, compared to a profit of US $ 5.29 per share for the same period a year earlier.
Onex said its adjusted profit, which excludes certain items, totaled US $ 607 million, or US $ 6.59 per share, up from that of US $ 515 million, or US $ 5.39 per share, made a year earlier.
Net profit from investing activities totaled US $ 493 million, compared to US $ 492 million last year, while that from wealth management activities jumped to US $ 195 million, from US $ 93 million one year earlier.
Onex President and CEO Gerry Schwartz said the company had enjoyed a “very active quarter” with good momentum across all of its businesses.
He added that private equity increased by 8% and the performance of the private equity platform funds had been strong.