Canadian First Financial Group Inc. is reporting net income of $72,637 for the three months ended March 31. This compares with a loss of $122,704 for the comparable period in 2001. Basic profit per share was 0.9¢ versus a per share loss of 1.4ç for the first quarter of 2001.

Revenues for the quarter ended March 31, 2002 were $5.2 million versus revenues from continuing operations of $5.3 million in 2001.

Don Hyslop, president and COO of CFFG commented, “We were pleased with our return to profitable operations in the first quarter reflecting solid new business production in our mutual fund and mortgage brokering businesses. Despite a difficult investment environment, revenues from continuing operations were off by less than 3% from the previous year.”

CFFG’s major operating subsidiaries include Ross Dixon Financial Services, Hewmac Financial Group and Canadian First Mortgage Services.