Financial services holding company Guardian Capital Group Ltd. yesterday reported improved profit for the the third quarter ended September 30.

After markets closed, Guardian said net earnings for the quarter climbed to $4.5 million, or 11¢ a share, from $4.1 million, or 10¢, a share for the third quarter of 2005.

Revenue rose to $16.5 million, up from $15.6 million, a year ago.

Cash flow from operations for the quarter was $4.2 million, substantially unchanged from the same period in 2005.

Assets under management were $17.1 billion as at Sept. 30, 2006, compared to $18.2 billion as at Sept. 30, 2005.

Assets under administration were $5 billion as at Sept. 30, 2006, compared to $4.3 billion as at Sept. 30, 2005.