Gluskin Sheff profit rises more than 150 pct

Thu Sep 18, 2014 6:35pm EDT
 
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Sept 18 - Canada's Gluskin Sheff+ Associates Inc said its quarterly profit more than doubled as assets under management rose 21.5 percent.

Net income rose to C$30.4 million ($28 million), or C$1.02 per share, for the fourth quarter ended June 30, from C$12.02 million, or 41 Canadian cents per share, a year earlier.

Assets under management rose to C$7.49 billion from C$6.16 billion.

Revenue jumped more than 150 percent to C$78.6 million.

Gluskin's shares, which have climbed more than 20 percent this year, closed at C$30.25 on the Toronto Stock Exchange on Thursday. (1 US dollar = 1.0945 Canadian dollar) (Reporting by Anannya Pramanick in Bangalore and Solarina Ho in Toronto; Editing by Don Sebastian)