Newsroom

rss

May 6, 2011 - GMP Reports Q1/11 Results

Revenues increased 41% compared with same period last year; Announces a 25% increase in common share dividend

For further information about GMP Capital Inc., our results for first quarter 2011 and the meaning of certain references, this quarterly earnings release should be read in conjunction with our First Quarter 2011 Financial Statements and Management’s Discussion and Analysis for the three months ended March 31, 2011, which can be accessed on our website at gmpcapital.com and on SEDAR at sedar.com. Unless otherwise indicated, all dollar amounts are expressed in Canadian dollars and have been taken from our First Quarter 2011 Financial Statements prepared in accordance with International Accounting Standard 34: Interim Financial Reporting using the policies we expect to apply in our annual financial statements for the year ending December 31, 2011, prepared in accordance with International Financial Reporting Standards (“IFRS”).

TORONTO, May 6, 2011 – GMP Capital Inc. (“GMP”) (TSX: GMP) today reported revenue of $115.3 million in first quarter 2011, representing a 41% increase compared with the same period a year ago largely due to strong performance in the Capital Markets business. Net income was $26.3 million ($0.32 per basic share) compared with a net loss of $62.0 million in first quarter 2010 ($0.89 per basic share), primarily reflecting the EdgeStone impairment charge recognized last year. First quarter 2011 results generated a return on common shareholders’ equity (“ROE”)1 of 28.4%. Excluding the impact of the one-time cash redemption costs incurred this quarter, adjusted earnings per share1 was $0.38, and adjusted ROE1 was 33.1%.

Read More...

Review our forward-looking statements disclosure. 

If you wish to receive notification of news and events at GMP Capital Inc., please email us at investorrelations@gmpcapital.com.