Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) Announces 2011 Third Quarter Operating Results

Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A)-



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For the periods ended September 30         Three Months          Nine Months
($ in thousands, except per share       2011       2010      2011       2010
 amounts)                                                                   
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Net revenue                        $  18,930  $  16,051 $  54,053  $  47,808
Operating earnings                     4,344      3,303    11,809      9,507
Net gains (losses) on securities      (1,090)       854      (784)       519
Net earnings attributable to                                                
 shareholders                          3,457      4,050    10,910     10,304
Cash flow from operations before                                            
 change in non-cash working            5,236      5,886    13,896     13,930
capital items                                                               
Per Share                                                                   
Basic net earnings                 $    0.11  $    0.12 $    0.34  $    0.31
Diluted net earnings                    0.10       0.12      0.33       0.31
Basic cash flow from operations                                             
 before change in non-cash working                                          
 capital items                     $    0.16  $    0.18 $    0.43  $    0.42
Diluted cash flow from operations                                           
 before change in non-cash working                                          
 capital items                          0.16       0.18      0.42       0.42



These are the Company's third interim financial results presented in accordance
with International Financial Reporting Standards (IFRS).


Assets under management were $15.2 billion as at September 30, 2011, compared to
$16.3 billion as at December 31, 2010 and $15.3 billion as at September 30,
2010. Asset under administration were $8.4 billion as at September 30, 2011,
compared to $7.8 billion as at December 31, 2010, and $7.4 billion as at
September 30, 2011.


Net earnings attributable to shareholders for the quarter were $3.5 million or
$0.10 per share, diluted, compared to $4.1 million or $0.12 per share, diluted,
in the third quarter of 2011.


Cash flow from operations, before changes in non-cash working capital, for the
quarter was $5.2 million or $0.16 per share, diluted, reduced from $5.9 million
from the third quarter of 2010.


The fair value of corporate holdings of securities as at September 30, 2011 was
$385.0 million, or $11.82 per share, diluted, compared with $383.6 million, or
$11.57 per share, diluted at December 31, 2010.


The Company recently announced, with great sadness, the passing on October 17,
2011 of its Chairman of the Board, James W. McCutcheon. Mr. McCutcheon had been
a director of the Company since 1997 and Lead Director from May, 2009 until his
recent appointment as Chairman of the Board. To fill the vacancies caused by Mr.
McCutcheon's death, on November 11, 2011, Mr. James Anas was appointed Chairman
of the Board of Directors, and Mr. George Mavroudis was appointed a member of
the Board of Directors.


Guardian Capital Group Limited is a diversified financial services company
founded in 1962. Guardian provides institutional and private client investment
management services; provides financial services to international investors; and
provides services to financial advisors in its national mutual fund dealer,
securities dealer, and insurance distribution network. Its Common and Class A
shares are listed on The Toronto Stock Exchange.