Guardian Capital Group Limited Announces Second Quarter 2008 Operation Results

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



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For the period ended June 30                   Three Months      Six Months
($ in thousands, except per share amounts)    2008     2007    2008    2007
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Gross revenues, net of commission paid
 to advisors                               $17,490  $19,059 $35,357 $36,952

Net earnings                                 3,009    6,070   6,664  10,571

Cash flow from operations before change
 in non-cash working capital                 3,250    4,562   6,786   9,290

Per Share
Basic net earnings                         $  0.08  $  0.16 $  0.17 $  0.27
Diluted net earnings                          0.08     0.16    0.17    0.27

Basic cash flow from operations before
 change in non-cash working capital        $  0.08  $  0.11 $  0.17 $  0.23
Diluted cash flow from operations before
 change in non-cash working capital           0.08     0.11    0.17    0.23



- Net earnings for the quarter were $3.0 million compared to $6.1 million for
the second quarter of 2007.


- Assets under management were $17.0 billion as at June 30, 2008, compared to
$17.8 billion as at June 30, 2007.


- Assets under administration were $7.4 billion as at June 30, 2008, compared to
$5.7 billion as at June 30, 2007.


- Income from securities, net, in the second quarter of 2008 amounted to $4.1
million, compared to $5.7 million for the second quarter of 2007.


- Cash flow from operations for the quarter was $3.3 million, compared to $4.6
million in 2007.


The fair value of the Company's holdings of securities as at June 30, 2008 was
$309.6 million or $7.91 per share, diluted.


Guardian Capital Group Limited is a diversified financial services company
founded in 1962. Guardian provides institutional and high net worth investment
management services to clients; 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.

Guardian Capital (TSX:GCG)
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