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RMFP Portfolio Update 2015 - Aug 4

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Manulife Monthly High Income Fund
Segregated Fund                YTD: 2.22%

  • Quebecor Inc. earned $72.1 million in its latest quarter as growth in its wireless business helped grow its revenue. The media and telecommunications company said the profit amounted to 59 cents per share in the quarter ended June 30, compared with a loss of $54.8 million or 45 cents per share a year ago. Revenue climbed to $960.9 million from $893 million in the same quarter last year.
  • Quebecor's adjusted profit from continuing operations was $66.5 million or 54 cents per share for the quarter, up from $55.9 million or 45 cents per share a year ago.
  • During the quarter, Quebecor announced the sale of its Archambault Group retail operations to Renaud-Bray and Quebecor Media closed the sale of its English-language newspaper businesses in Canada to Postmedia.
  • The company also announced that Erik Peladeau is rejoining the board of directors. The eldest son of Quebecor founder Pierre Peladeau served as a director from 1988 to 2010.