Since early 2013, Canada’s investment industry has shown a promising turnaround in fortunes. Revenue and profit improved decisively in 2014 (up 15% and 29%, respectively, year-over-year), and were well above the 2006-07 bull market averages. However, first half 2015 results dashed hopes for a sustained earnings breakout – revenue was up 3% year-over-year, but operating profits were down 5% in H1 2015.
If business conditions in the second half of 2015 stay roughly in line with the first half, the IIAC forecasts the following for 2015 as whole:
* Operating revenue and profit at the integrated firms are expected to increase 6% and … Continue reading