Canaccord Genuity profit soars 78 percent

Wed Feb 5, 2014 4:25pm EST
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TORONTO Feb 5 (Reuters) - Canaccord Genuity, a Canadian investment dealer and wealth management firm, posted a stronger-than-expected 78 percent rise in third-quarter profit, helped by lower expenses.

The Toronto-based company earned C$18.3 million ($16.48 million), or 14 Canadian cents a share, in the fiscal third quarter ended Dec. 31. That compared with a year-before profit of C$10.3 million, or 8 Canadian cents per share.

Excluding certain items, the company earned 17 Canadian cents per share, it said. Analysts had expected a profit of 13 Canadian cents a share, excluding items, according to Thomson Reuters I/B/E/S.