Canada-based Canaccord Genuity Group has recorded a net income of C$18.9 million for the first quarter of fiscal 2015, a surge of 139% compared to C$7.9 million a year ago.
For the quarter ended 30 June 30, 2014, the group generated revenue of C$245.6 million, an increase of 31% from C$187.2 million in the year ago period.
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"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 Paul Reynolds, president and CEO of Canaccord Genuity Group said.
"During the quarter, we made continued progress growing all of our businesses, reflecting the impact of our diversification strategy and the differentiated global service we provide," he added.
Canaccord Genuity’s wealth management arm generated C$64.1 million in revenue in the first quarter of fiscal 2015.
The division’s assets under administration (AuA) in Canada and assets under management in the UK and Europe and Australia were C$32.1 billion at the end of first quarter.
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