Canaccord Financial Q3 shows revenue growth, profit reaches $15.1 million, no comment on Genuity speculation

The Canadian Press ~ The News
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VANCOUVER - Canaccord Financial Inc. (TSX:DF) says its revenue in the last three months of 2009 nearly doubled compared with a year earlier, reaching $173.2 million.
The revenue was up from $87.2 million in the October-to-December period of 2008, which is the third quarter of Canaccord's financial year.
The Vancouver-based securities broker also says net income was $15.1 million or 27 cents per share, in the fiscal third quarter ended Dec. 31, 2009.
That compared with a loss of $1.27 per share or $62.4-million a year earlier when Canaccord recorded substantial one-time charges.
Canaccord Financial is one of Canada's largest securities dealers and wealth-management firms.
Its quarterly financial report didn't comment on a news report that said Canaccord has been in talks to acquire Toronto-based Genuity Capital Markets.
Canaccord issued a statement Wednesday saying it looks at acquisitions from time to time but "does not publicly comment on potential acquisitions unless and until a binding legal agreement has been signed."
It neither confirmed nor denied any such talks after the Globe and Mail's website, citing unidentified Bay Street sources, reported that Canaccord was looking at five-year-old Genuity Capital Markets.

Organizations: Capital Markets, Canaccord Financial, TSX Globe and Mail

Geographic location: VANCOUVER, Canada, Bay Street

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