Royal Bank fourth-quarter profit jumps 142% to record $1.26 billion: Knowledge Driven Revolution

Royal Bank (TSX:RY) reported Thursday a fourth-quarter profit that jumped 142 per cent to a record $1.26 billion and the highest annual profit ever made by a Canadian company at $4.73 billion.

Full-year earnings at Canada's largest bank amounted to $3.59 per share on a diluted basis, compared with a year-earlier $3.4 billion or $2.57 per share.

Last year's numbers had included Enron Corp. lawsuits settlement costs of $591 million.

"Throughout 2006, we continued to build on the momentum we established in 2005," president and CEO Gordon Nixon said in a statement.

"Our record results reflect our growth initiatives across all of our businesses, as well as geographies."

Diluted earnings per share amounted to 97 cents for the quarter ended Oct. 31, versus a year-earlier 39 cents, the Toronto-based bank said.

On average, analysts had forecast quarterly earnings of 90 cents a share, according to Thomson Financial.

The bank reported total revenue from continuing operations for the fourth-quarter of $5.35 billion from last year's $4.8 billion. For all of fiscal 2006, Royal's revenue rose to $20.6 billion from $19.2 billion.

Royal's return on common equity for the year was 23.5 per cent.

The bank also declared a quarterly dividend of 40 cents per share, payable Feb. 23 to shareholders of record on Jan. 25.

Shares in Royal Bank gained 54 cents to $54 in early trading on the Toronto Stock Exchange.

Read the full article here

Broken Link? If the link to the original article is broken or has been altered you can view the article by clicking here.

Read Today's Knowledge Driven News
HOME Rouge States and the 9/11 Truth Terrorists Canadians Should Pay NOT to be Poisoned: NDP V for Vendetta - R for Reality Canadian Bird Flu Pandemic Looming ? Shill of the Week: Stephan Harper Aspartame: The Sweetest Killer Chicken Little Terrorist of the Week: Creating Fake Terrorists Shill of the Week: Paul Martin The Number 1 Reason YOU became a Slave	Royal Bank fourth-quarter profit jumps 142% to record $1.26 billion CP December 01, 2006 Royal Bank (TSX:RY) reported Thursday a fourth-quarter profit that jumped 142 per cent to a record $1.26 billion and the highest annual profit ever made by a Canadian company at $4.73 billion. Full-year earnings at Canada's largest bank amounted to $3.59 per share on a diluted basis, compared with a year-earlier $3.4 billion or $2.57 per share. Last year's numbers had included Enron Corp. lawsuits settlement costs of $591 million. "Throughout 2006, we continued to build on the momentum we established in 2005," president and CEO Gordon Nixon said in a statement. "Our record results reflect our growth initiatives across all of our businesses, as well as geographies." Diluted earnings per share amounted to 97 cents for the quarter ended Oct. 31, versus a year-earlier 39 cents, the Toronto-based bank said. On average, analysts had forecast quarterly earnings of 90 cents a share, according to Thomson Financial. The bank reported total revenue from continuing operations for the fourth-quarter of $5.35 billion from last year's $4.8 billion. For all of fiscal 2006, Royal's revenue rose to $20.6 billion from $19.2 billion. Royal's return on common equity for the year was 23.5 per cent. The bank also declared a quarterly dividend of 40 cents per share, payable Feb. 23 to shareholders of record on Jan. 25. Shares in Royal Bank gained 54 cents to $54 in early trading on the Toronto Stock Exchange. Read the full article here Broken Link? If the link to the original article is broken or has been altered you can view the article by clicking here. About KDR \| \| Home \| \| Weekly Features Archive	Weekly Features Archive
		What Is Wrong With Canada ? Recent 9-11 News Suppressed by the Media Aspartame: The Sweetest Killer The Number 1 Reason YOU became a Slave Knowledge Driven Look at Your Favourite Canadian Political Parties
		September October November 2006 29 30 31 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 01 02 Weekly Features 2006 2005 Read Today's Knowledge Driven News
		Counter
Copyright © 2005-6 KnowledgeDrivenRevolution.com