(October 29) – Winnipeg-based
fund giant, Investors Group Inc.
is announcing its third quarter
earnings, boasting a 26% increase
year over year.
IG earned 30.1¢ per share in the
period, up from 23.8¢ in the period
a year ago. In the nine months it
booked 80.3¢ per share, compared
with 64.3¢ in the period last year.
Revenues were up from last year,
despite the fact that mutual fund
sales slipped from $5 billion in
the first nine months of 1998 to
$4.5 billion in 1999. In Q3 1999
net sales were just $210 million,
down from $543 million in the
period last year.
Sanford Riley, president and CEO
at IG, pointed to the firm’s
insurance and mortgage businesses
as the core of its growth;
although he claims, “The most
important factor in our growth,
however, remains the comprehensive
approach to financial planning by
our knowledgeable sales
representatives and the strong
relationships we share with our
clients.”
-IE Staff
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