Canaccord Genuity Group has reported revenues of CAD271.7m ($201.9m) for the fourth quarter of fiscal 2017, a surge 35.2% compared with CAD200.9m ($149.2m) in the corresponding year ago period.

For the quarter ended 31 March 2017, the company’s net income was CAD31m versus a net loss of CAD22.7m a year ago. Expenses rose 2.6% year-on-year to CAD234.3m.

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Canaccord Genuity Wealth Management generated revenues of CAD74.7m globally during the fourth quarter of fiscal 2017, while Canaccord Genuity Wealth Management (North America) generated revenues of CAD40.3m.

In North America, assets under administration totalled CAD13.2bn, a surge of 43.9% over CAD9.2bn reported a year earlier. Discretionary assets under management in North America were CAD2.6bn at the end of March 2017, compared to CAD1.3bn last year.

Canaccord Genuity Wealth Management (UK & Europe) earned CAD33.1m in revenue during the fourth quarter of fiscal 2017. In the UK & Europe, assets under management (discretionary and non-discretionary) were CAD24.5bn, up 7.6% from CAD22.8bn in the same quarter of last year.

Canaccord Genuity Group president and CEO Dan Daviau said: “Fiscal 2017 was certainly a year of improved performance across our operations, and all businesses contributed to our profitability.

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“Throughout the year, we made important progress against our strategy to extract greater value from our existing operations, and the additional growth we have achieved in our global wealth management businesses has meaningfully contributed to a stronger net income result.”