November 5, 2010 / 10:41 AM / 7 years ago

UPDATE 1-GMP Capital Q3 beats Street

* Q3 EPS C$0.32 vs est C$0.20

* Q3 revenue C$100.9 mln vs est C$88.9 mln

* Investment banking revenue up 92 pct

* Capital markets revenue up 77 pct

Nov 5 (Reuters) - GMP Capital Inc’s (GMP.TO) third-quarter profit rose almost three-fold, topping estimates, helped by revenue boost at its capital markets segment.

One of Canada’s largest independent investment dealers, GMP’s earnings came in at C$22.4 million, or 32 Canadian cents per basic share, up from C$8.4 million, or 12 Canadian cents per basic share, a year ago.

Revenue rose 41 percent to C$100.9 million, as revenue from investment banking almost doubled to C$55.2 million.

Revenue from its capital markets division rose 77 percent to C$91 million in the quarter.

Analysts on average expected the company to earn 20 Canadian cents on revenue of C$88.9 million, according to Thomson Reuters I/B/E/S.

Toronto-based GMP’s shares have gained about 17 percent in value since president Harris Frickers replaced Kevin Sullivan as CEO in August.

Shares closed on Thursday at C$11.25 on the Toronto Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Jarshad Kakkrakandy)

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