Canaccord Genuity Group has earned revenues of C$193.6m in the second quarter of fiscal 2017, an increase of 1.6% from C$190.6m in the second quarter of fiscal 2016.

The company's net income for the quarter ended 30 September 2016 was C$0.2m, compared to a net loss of C$0.4m a year ago.

Expenses during the period rose 2% to C$192.8m from C$189.1m in the prior year.  

Canaccord Genuity Wealth Management generated C$65.2m in revenue on a global basis, while Canaccord Genuity Wealth Management (North America) generated C$29.7m in revenue.

In Canada, the unit's assets under administration at the end of September 2016 stood at C$10.3bn, a 9% rise from C$9.5bn a year ago. Discretionary assets under management in Canada dropped 10.4% to C$1.22bn from C$1.36bn a year earlier.

Canaccord Genuity Wealth Management (UK & Europe) earned C$34m in revenue in the second quarter of fiscal 2017. In the UK & Europe, the unit's assets under management (discretionary and non-discretionary) increased 1.1% year-on-year to C$23.2bn from C$22.9bn.

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Canaccord Genuity Group president and CEO Dan Daviau said: “While the impact of the prolonged period of market uncertainty before and after the Brexit vote and leading up to the US federal election is evident in our second quarter results, we are encouraged by improving global activity levels in our core focus areas and by exceptional performance from our Australian investment banking business.

“During the quarter we made significant progress to advance our global wealth management strategy, which we expect will directly contribute long-term earnings stability.”