Guardian Capital Group Limited

Guardian Capital Group Limited

February 25, 2005 16:30 ET

Guardian Capital Group Limited Announces 2004 Operating Results


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GUARDIAN CAPITAL GROUP LIMITED

TSX SYMBOL: GCG
TSX SYMBOL: GCG.NV

FEBRUARY 25, 2005 - 16:30 ET

Guardian Capital Group Limited Announces 2004
Operating Results

TORONTO, ONTARIO--(CCNMatthews - Feb. 25, 2005) - Guardian Capital Group
Limited (TSX:GCG)(TSX:GCG.NV) -



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For the period ended December 31 Three Months Twelve Months
($ in thousands, except
per share amounts) 2004 2003 2004 2003
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Net earnings $ 3,401 $ 2,316 $ 10,559 $ 6,653

Cash flow from operations,
before change in non-cash
working capital 4,208 1,866 12,699 7,225

Per Share
Basic earnings $ 0.17 $ 0.12 $ 0.53 $ 0.34
Diluted earnings 0.17 0.11 0.52 0.33

Basic cash flow from operations,
before change in non-cash
capital 0.21 0.10 0.64 0.37
Diluted cash flow from operations,
before change in non-cash
capital 0.21 0.10 0.63 0.36


Assets under management were $16.1 billion as at December 31, 2004
compared to $14.8 billion as at September 30, 2004 and $13.4 billion as
at December 31, 2003. Assets under administration were $3.6 billion as
at December 31, 2004, compared to $3.3 billion as at September 30, 2004
and $2.7 billion as at December 31, 2003.

Net earnings for the year 2004 were $10.6 million, compared to $6.7
million for 2003.

Cash flow from operations for the year were $12.7 million, compared to
$7.2 million for 2003.

The value of corporate holdings of securities as at December 31, 2004
was $364.3 million, or $17.96 per share, diluted.

The Board of Directors has declared a dividend of $0.21 per share, an
increase of 20% over last year, payable on March 16, 2005 to
shareholders of record on March 11, 2005. The Board of Directors has
also approved the holding of the Annual Meeting of Shareholders on May
19, 2005.

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Guardian Capital Group Limited
    Vern Christensen
    (416) 947-4093
    or
    Guardian Capital Group Limited
    Sam K. Greiss
    (416) 947-3743