Canaccord Genuity Group Reports First Quarter 2015 Earnings
Proquest LLC |
In the first quarter of fiscal 2015, the quarter ended
Excluding significant items, the Company recorded net income of
Including all expense items, on an IFRS basis, the Company recorded net income of
"Our fiscal first quarter results were characterized by the positive momentum in our Canadian capital markets business that started in the second half of fiscal 2014", said
According to its release on
-Revenue of
-Excluding significant items, expenses of
-Expenses of
-Excluding significant items, diluted earnings per common share of
-Excluding significant items, net income of
-Net income of
-Diluted EPS of
First quarter of fiscal 2015 vs. fourth quarter of fiscal 2014
-Revenue of
-Excluding significant items, expenses of
-Expenses of
-Excluding significant items, diluted EPS of
-Excluding significant items, net income of
-Net income of
-Diluted EPS of
Financial condition at end of first quarter fiscal 2015 vs. fourth quarter fiscal 2014
-Cash and cash equivalents balance of
-Working capital of
-Total shareholders' equity of
-Book value per diluted common share of
-On
-On
SUMMARY OF OPERATIONS
Corporate
-On
-On
-On
-During the quarter, the Company purchased and cancelled 264,200 of its common shares under the terms of its normal course issuer bid
-On
Capital Markets
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-AUD$120.0 million for
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-AUD$67.2 million for
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-AUD$33.6 million for
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-AUD$25.0 million for
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-AUD$20.4 million for
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-In Canada,
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-During fiscal Q1/15,
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-AIB, RBS and Santander on their disposal of
-Gaucho on the refinancing of its debt facilities
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Fellow Shareholders:
Our solid results this quarter reflect the impact of our diversification strategy and the ongoing strength of our global platform. For the first three months of fiscal 2015,
While the strength of our global business and diversified revenue streams were the main drivers of our revenue growth, the impact of foreign currency translation, particularly the US dollar and British pound, further supported our revenue growth for the period.
We continue in our efforts to realize cost synergies across our global business. Despite higher expenses related to increased business activity and the occurrence of one-time costs associated with certain restructuring charges, our expenses as a percentage of revenue during the quarter decreased by 4.6 percent compared to the same period last year.
Canadian capital markets revenue increases 77 percent year-over- year
Driven by robust performance on the TSX, we are experiencing a welcome recovery in financing and advisory activity in
In addition to an improved market environment, the growth in our financing and advisory businesses is attributable to the long- standing relationships and track record of success we have historically achieved for our clients in the region. Our position as the leading Canadian independent firm for M&A advisory was reflected in our engagement by
Global assets under administration and management increase 24 percent
Further reflecting improved market conditions, our Canadian wealth management division increased revenues by 22 percent to
The momentum we are building in our Canadian wealth management division and the impact of strategic and operational changes led to a 56 percent reduction in year-over-year losses for this business.
Assets under management in our
We are committed to growing our global wealth management operations and we have begun to invest strategically in advancing the scale and scope of this business. The Canadian launch of our proprietary Global Portfolio Solutions (GPS) product is expected later in the fiscal year. In the
More information:
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