Canaccord Genuity Group has earned revenues of C$200.9m during the fourth quarter of fiscal 2016, down 13.6% compared to C$232.5m a year ago.
The company’s net loss for the period was C$22.7m, compared to a net loss of C$26.3m in the fourth quarter of fiscal 2015.
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Expenses dipped 12.5% to C$228.2m from C$260.8m in the prior year.
Canaccord Genuity Wealth Management generated C$61.4m in revenue on a global basis during the period.
Canaccord Genuity Wealth Management (North America) generated C$25.5m in revenue. In Canada, the unit’s assets under administration were C$9.19bn, a slump of 14.3% from C$10.73bn in the year-ago quarter. Discretionary assets under management in Canada declined 19.5% to C$1.26bn from $1.56bn a year earlier.
Canaccord Genuity Wealth Management (UK & Europe) earned C$34.9m in revenue. In the UK & Europe, the unit’s assets under management (discretionary and non-discretionary) increased 4.7% to C$22.8bn from C$21.8bn during the same quarter in 2015.
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By GlobalDataCanaccord Genuity Group president and CEO Dan Daviau said: "While our results reflect the impact of global growth concerns that persisted through the fiscal year and led to significantly reduced activity across financial markets, we are encouraged by improving activity levels across core focus sectors in recent months.
"During the second half of the year, we made significant progress on our strategy to improve efficiencies and reduce fixed costs across our business and we are well positioned to return all of our businesses to profitability."
