News-Releases
News Releases

News Releases

2008 RESULTS OF OPERATIONS

February, 27, 2009

Toronto
Labrador Iron Ore Royalty Income Fund announced the results of its operations for the year ended December 31, 2008. Following are some of the financial highlights of the Fund’s 2008 results with comparison to the 2007 results:

Years Ended December 31
  2008   2007
($ in millions except per unit information)        
Revenue   163.4   67.6
Expenses (including royalty taxes)   38.8   22.6
Net Income   176.5   80.9
Adjusted Cash Flow(1) (2)   174.9   60.5
Net Income per Unit   $5.52   $2.53
Adjusted Cash Flow per Unit(1) (2)   $5.46   $1.89
Cash Distributions per Unit   $4.85   $1.95

(1) See Management’s Discussion & Analysis for definition
(2) Includes IOC dividends totaling $77.9 million or $2.44 per Unit
(2007 - $18.8 million or $0.59 per Unit)

Please download PDF file for further information.

Bruce C. Bone
Chairman and Chief Executive Officer