TORONTO, Aug 3 (Reuters) - Brascan Corp.(Toronto:BNNa.TO - news) said on Friday improved returns from its property, financial services and energy operations offset the impact of lower base metals and forestry products prices on its second-quarter results. The conglomerate said net income from continuing operations for the quarter ended June 30 was C$107 million, or 56 Canadian cents a share, up from C$104 million, or 53 Canadian cents a share a year ago. Group revenues declined slightly to C$3.36 billion, down from C$3.44 billion in the year ago quarter. The company's forestry products operations dragged down results because of lower lumber, panelboard and pulp prices and provisions for closing a U.S. paper mill. Lower base metals prices and the impact of a strike at Falconbridge's nickel operations in Sudbury dented results in the company's natural resource operations. Robust investment banking and asset management activity at Brascan's 71 percent-owned Trilon Financial Corp. (Toronto:TFCa.TO - news) helped offset poor results in the company's other businesses. Energy operations also buoyed results thanks to higher revenues from marketing operations. Other than Trilon, Brascan's interests include a 40 percent stake in Noranda Inc. (Toronto:NRD.TO - news), and a 48 percent stake in Brookfield Properties Corp. (Toronto:BPO.TO - news). Brascan shares have risen 29 percent since the beginning of the year. The stock reached a 52-week high, up 65 Canadian cents to C$28.40 on the Toronto Stock Exchange, on Thursday. The stock was as low as C$17.55 in the past year. The company also said that Bruce Flatt, chief executive of Brookfield who will become Brascan president and chief executive in March 2002, and other senior executives, plan to increase their ownership in Brascan. ($1 equals $1.54 Canadian)