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Canaccord Genuity Group Inc. Provides Outlook For First Quarter Fiscal 2020 Results
Canaccord Genuity Group Inc. Provides Outlook For First Quarter Fiscal 2020 Results ...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Provides Outlook For First Quarter Fiscal 2020 Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, July 18, 2019\n\n\n\nPreliminary first quarter financial results expected to be consistent with management expectations\n TORONTO, July 18, 2019 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF, the \"Company\") announced preliminary results for the quarter ending June 30,2019. The preliminary results announced are consistent with management's expectations for the quarter and are being disclosed at this time because of the short time period between the scheduled quarterly earnings release date of August 6, 2019 and the expiry of the Company's substantial issuer bid.  The Company's substantial issuer bid, which commenced on July 9, 2019, is scheduled to expire on August 9, 2019, unless extended or withdrawn.\nExcluding significant items, the Company expects to record net income attributable to common shareholders of approximately $28 million, which is earnings per common share of approximately $0.23. Including all expense items, on an IFRS basis, the Company expects to record net income attributable to common shareholders of approximately $22 million, which is earnings per common share of approximately $0.18. These preliminary financial results are subject to revision and may change when the Company reports its full first fiscal quarter results on August 6, 2019.\nRevenue is expected to be approximately $322 million for the fiscal quarter. This amount represents an increase of approximately 17% when compared to the first quarter of fiscal 2019 and an increase of approximately 13% compared to the most recent fiscal quarter.\nThe Company's global wealth management operations have continued to provide increasing contributions to revenue and profitability. Global capital markets operations have benefitted from a supportive environment for new issue and advisory activities in core focus sectors.\nAs expected, pre-tax margins have continued to improve in the wealth management di...