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February 15, 2019

Canaccord Genuity Group revenues rise in third quarter

Canaccord Genuity Group revenues for the third quarter of fiscal 2019 were C$331.6m ($249.5m).

The figure marks a 7% rise from C$309.4m in the same quarter last year.

The company’s net income also increased, growing from C$32.5m to $36.6m.

Net income attributable to common shareholders was C$30.1m.

Canaccord wealth management

Canaccord Genuity Wealth Management generated revenues of C$116m globally for the three months to December 2018.

Canaccord Genuity Wealth Management (North America) posted revenues of C$54.2m during the period.

In Canada, the company’s assets under administration totalled C$18.3bn as of 31 December 2018. This is a 26% surge from C$14.5bn in the previous year.

Discretionary assets under management in Canada soared 39% to C$4bn from C$2.8bn last year.

Canaccord Genuity Wealth Management (UK & Europe) generated C$61.8m in revenues.

In the UK & Europe, assets under management (discretionary and non-discretionary) reached C$41.2bn at the end of December 2018, down 6% from C$43.8bn a year ago.

Canaccord Genuity Group president and CEO Dan Daviau said: “We delivered another solid quarter of revenue growth in global capital markets and consistent results from our global wealth management operations, placing us firmly on track for another strong fiscal year performance.

“We have taken important steps to continue adding scale to our global wealth management businesses and strengthening our capital markets business, with confidence that our efforts will continue to translate into stronger and more sustainable returns for our shareholders.”

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