Value-added strategy.Brookfield Properties Brookfield Properties Corporation TSX: BPO NYSE: BPO is a Toronto-based North American commercial real estate company. Brookfield Asset Management owns 50% of its outstanding common shares. Corporation announced strong financial results for the third quarter ended September September: see month. 30, 2004. For the nine months ended September 30, Brookfield's funds from operations Funds From Operations (FFO) Used by real estate and other investment trusts to define the cash flow from trust operations; earnings with depreciation and amortization added back. increased by 45% to $2.30 per share from $1.59 per share during the same period in 2003. Funds from operations prior to lease termination income increased by 21% to $1.92 per share from $1.59 per share during the same, period in 2003. Net income increased by 14% to $1.00 per share from $0.88 per share during the same period in 2003. For the three months ended September 30, 2004, Brookfield's funds from operations increased by 13% to $0.62 per share from $0.55 per share, during the same period in 2003. "With another quarter of solid financial results, Brookfield continues to execute its value-added strategy through the accretive deployment of capital into premier properties in high-growth markets," said Ric Clark, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Brookfield. |
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