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AGF Management Q1 consolidated revenue up

AGF Management, a mutual fund and investment management company, has reported that its first quarter consolidated revenue increased 9.8% to $194.3 million from $177 million in the same quarter of 2007, with both operating segments reporting year-over-year increases.

The EBITDA from continuing operations were $89.5 million for the period ended February 29, 2008, an increase as compared with $80.4 million for the same period in 2007.

The income from continuing operations before taxes for the quarter was up 15.8% to $56.5 million, from $48.8 million for the comparable quarter of 2007. The net income from continuing operations for the period grew 64.6% to $62.7 million or $0.70 per share diluted, compared with $38.1 million or $0.42 per share diluted for the 2007 quarter.

Blake Goldring, chairman and CEO of AGF, said: Continued market volatility impacted sales in the first quarter as investors remained cautious. Despite this, our financial results remained strong, with revenue up 9.8% and income from continuing operations before taxes increasing by 15.8%.