Private equity firm Onex Corporation (OCX.TO) Friday reported a loss for the first quarter versus a profit last year, impacted by increased expenses, in spite of a revenue rise.
For the quarter, the firm posted net loss of $271 million versus a profit of $173 million last year. On a per Subordinate Voting Share basis, loss for the period was $2.71 versus a profit of $0.51 a year earlier.
The company clocked revenue of $7.212 billion for the three months, up from $6.817 billion reported last year.
Cash used in operations was $68 million for the quarter, compared with $263 million of cash generated from operations in the comparable prior-year period.
The firm further declared a 36 percent increase in the quarterly dividend to C$0.0375 per Subordinate Voting Share, payable on July 31 to shareholders of record on July 10.
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