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AGF Management net income rises 8%

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AGF Management (AGF.B-T) said its third-quarter profit rose 8 percent on higher revenue from its investment management operations and last year's acquisition of Acuity Funds.

The Canadian wealth management firm earned $29.9 million, or 31 cents a share, in the quarter ended August 31. That compared with a profit of $27.8 million, or 31 cents a share, a year ago.

Analysts, on average, had expected a profit of 35 cents a share, according to Thomson Reuters I/B/E/S.

Revenue rose 17.4 percent to $174.5 million, the company said in a statement.
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