(September 28 – 16:00 ET) – AGF Management Ltd. says that robust sales, strong performance in fund portfolios and rigorous cost controls have powered the company to a record third quarter. It’s the third consecutive record quarter this fiscal year.
For the quarter ended August 31, consolidated net income was $26.8 million or 33¢ a share fully diluted, a gain of 66.8%t over last year.
“AGF is continuing to build on strong growth momentum this year,” says Blake Goldring, president and CEO. “Consistent management controls coupled with new growth initiatives have given us a strong platform to fulfill our vision to be a global company with a Canadian home.”
Consolidated revenue grew 38.9% to $129.5 million, up from $93.2 million one year ago. AGF’s mutual fund assets under management increased $2.3 billion during the quarter to $24.4 billion at August 31.
Also today the company’s board of directors declared a 5¢ a share dividend on the Class B Non-Voting Shares and on the Class A Voting Common Shares, payable October 23, 2000, to shareholders of record on October 11.
-IE Staff