Guardian Capital Group Limited (TSX: GCG; GCG.A) Announces 2015 First Quarter Operating Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/12/15 -- Guardian Capital Group Limited (TSX: GCG)(TSX: GCG.A) -
TO OUR SHAREHOLDERS:
We present below a summary of the Company''s operating results for the three months ended March 31, 2015. All per share figures disclosed below are stated on a diluted basis.
Summary
The Company''s assets under management ("AUM") as at March 31, 2015 grew to $26.1 billion, an increase of 5% since December 31, 2014 and 12% since March 31, 2014. Assets under administration ("AUA") were $14.1 billion as at March 31, 2015, an increase of 7% since December 31, 2014 and 15% since March 31, 2014.
The Company''s operating earnings for the current quarter were $10.5 million, an increase of 22% from $8.6 million in Q1 2014. All segments of the Company''s operations contributed positively to the overall growth in operating earnings. Net gains at $0.2 million were lower in the current quarter than in 2014 due to lower levels of investment activities during the current quarter. The net gains on securities held for sale at $3.0 million were higher in the current quarter than in 2014, largely due to the unrealized gains recorded on a significantly larger portfolio of securities held for sale.
Net earnings available to shareholders for the quarter were $11.3 million, or $0.37 per share, compared to $10.9 million, or $0.35 per share, for Q1 2014. The increase was due to the growth in operating earnings, offset by the reduction in the total of net gains and net gains on securities held for sale, and the resulting additional income taxes.
EBITDA(1) for the quarter was $11.6 million, or $0.38 per share, compared to $9.8 million, or $0.31 per share for Q1 2014. Adjusted cash flow from operations(1) for the quarter was $8.1 million, or $0.27 per share, compared to $7.5 million, or $0.24 per share for Q1 2014.
The Company''s shareholders'' equity as at March 31, 2015 was $478 million, or $15.42 per share, compared to $489 million, or $15.62 per share, at December 31, 2014 and $438 million, or $13.93 per share, as at March 31, 2014. The fair value of the Company''s corporate holdings of securities as at March 31, 2015 was $522 million, or $16.86 per share, compared to $525 million, or $16.78 per share, as at December 31, 2014 and $468 million, or $14.88 per share, as at March 31, 2014.
The Board of Directors has declared a quarterly eligible dividend of $0.075 per share, payable on July 17, 2015, to shareholders of record on July 10, 2015.
The following chart summarizes Guardian''s financial results for the past eight quarters.
Guardian Capital Group Limited is a diversified financial services company founded in 1962. Guardian provides institutional and high net worth investment management services to clients; financial services to international investors; and services to financial advisors in its national mutual fund dealer, securities dealer, and insurance distribution network. Its Common and Class A shares are listed on The Toronto Stock Exchange.
Contacts:
Guardian Capital Group Limited
Donald Yi
Chief Financial Officer
(416) 350-3136
Guardian Capital Group Limited
George Mavroudis
President and Chief Executive Officer
(416) 364-8341
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Datum: 12.05.2015 - 14:41 Uhr
Sprache: Deutsch
News-ID 1358333
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