(MAY 12 – 15:45 ET) – Rice Capital Management Plus Inc. reported net income after tax for the first quarter ended March 31, 2000, totalled $369,000, an increase of 571% over 1999’s total of $55,000. Basic earnings per share was $.026 for the first quarter, an increase of 550% over the $.004 reported in the first quarter of 1999.
Assets under administration at the end of the first quarter totalled $3 billion, an 87% increase from the end of the same period in 1999. The client base doubled from 63,000 to 125,000 during the last 12 months.
Commenting on the results, Rice Capital Chairman and CEO Thomas J. Rice said: “Our significant growth in gross revenue is attributable to a stronger than industry average RRSP season during the first two months of 2000 plus the contributions made by those companies that we acquired, both late last year and during the first quarter of 2000.”
Rice Capital Management Plus is the holding company of Winnipeg-based Rice Financial Group Inc., Saskatchewan-based Halmac & Associates Ltd. and Independent Wealth Advantage Inc. in British Columbia, Alberta, and Manitoba.
-IE Staff