UPDATE: Manulife Financial Posts Q2 Profit

Manulife Financial

posted a profit in the second quarter. Manulife posted a quarterly net profit of C$259 million ($248.45 million), or 12 Canadian cents per share, versus a year-ago loss of C$281 million, or 17 Canadian cents per share. Excluding one-time items, it earned 31 Canadian cents per share, versus analysts' estimates of 34 Canadian cents per share. Manulife shares closed at $17.32 yesterday.