Canaccord Financial Inc (CF.TO), which bought Genuity Capital Markets a year ago, said on Tuesday its fourth-quarter profit soared amid record revenue from advisory fees. The Vancouver-based firm said its profit was C$40.9 million ($42.2 million), up from C$7.5 million in the same period a year earlier. Canaccord, which has a strong presence in Canada's mining sector, bought Genuity Capital Markets in April last year. Revenue in the quarter ended March 31 was C$247.6 million, up 73 percent from C$143.1 million, bolstered by advisory revenue of C$25.7 million.
Canaccord Financial Inc., formerly Canaccord Capital Inc. Shares of CF fell by 0.53% or $-0.71/share to $134.25. In the past year, the shares have traded as low as $57.56 and as high as $153.83. On average, 2364020 shares of CF exchange hands on a given day and today's volume is recorded at 1511206.
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