Source: The Canadian Press

Gluskin Sheff and Associates Inc. (TSX:GS) said Thursday it earned $5.2 million in its latest quarter, up from a year ago.

The investment manager said the profit amounted to 17 cents per diluted share for the quarter ended March 31 compared with a profit of $4.1 million or 14 cents per diluted share a year ago.

Revenue in what was the company’s third quarter totalled $19.6 million, up from $14.4 million.

Assets under management were $5.6 billion at March 31, up from $5.4 billion at Dec. 31.

“The company remains in a strong financial position and we plan to continue to use this to our advantage, to seek out new clients, to attract new talent, and to pursue other opportunities as they present themselves,” said Gerald Sheff, co-founder, chairman and chief executive.

“The changes and enhancements we have made, and will continue to make, are all intended to achieve our primary objective: providing strong, risk-adjusted returns and outstanding service to our clients over the long term.”

Shares in the company, which reported its results after the close of markets, were up 23 cents at $21.63 on the Toronto Stock Exchange on Thursday.