The Canadian Press

GMP Capital Inc. (TSX:GMP) had a $19.5 million profit in the fourth quarter of 2009, as the Toronto-based securities firm more than tripled its revenue compared with the final three months of the prior year.

GMP’s net income was the equivalent of 28¢ per share compared with a net loss of 29¢ per unit or $17.5 million, when GMP was still an income trust.

The profit exceeded even the highest of four earnings estimates gathered by Thomson Reuters, which said the consensus was 1¢ per share.

GMP’s revenue also blew past the two revenue estimates compiled by Thomson Reuters. Revenue rose to $104.9 million, up from $33.8 million a year earlier and above the $88 million consensus estimate.

The firm’s board left GMP’s quarterly dividend of 5% per share, payable March 19 to shareholders of record as of March 10.