Source: The Canadian Press

Northern Financial Corp. (TSX:NFC) said Tuesday it lost $3 million for the financial year ended March 31 compared with a loss of $7.8 million in the previous year.

Total revenue for the company was $10.3 million down from $12 million.

“The costs reductions are largely done although we are always on the lookout for ways to be more efficient operationally,” chairman and chief executive Vic Alboini said in a statement.

“Our focus is top-line revenue growth by growing our key business lines of raising capital for small cap companies, providing mergers and acquisition services and serving our institutional and retail clients by identifying excellent small cap companies for investment.”

Northern Financial owns Northern Securities Inc., a full service investment dealer.