Guardian Capital Group Limited (TSX: GCG; GCG.A) Announces 2012 Second Quarter Operating Results

TORONTO, ONTARIO--(Marketwire - Aug. 9, 2012) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) -

Assets under management were $16.9 billion as at June 30, 2012, compared to $15.9 billion as at December 31, 2011 and $16.2 billion as at June 30, 2011. Assets under administration were $8.9 billion as at June 30, 2012, compared to $8.7 billion as at December 31, 2011, and $8.0 billion as at June 30, 2011.

All per share figures disclosed below are stated on a diluted basis.

Net earnings available to shareholders for the quarter were $2.8 million or $0.09 per share, compared to $2.9 million or $0.09 per share in the second quarter of 2011. Net earnings available to shareholders for the quarter were reduced as a result of an increase in deferred income taxes of $1.2 million or $0.04 per share, resulting from increased Ontario income tax rates enacted in June, 2012.

Adjusted cash flow from operations for the quarter was $5.2 million or $0.17 per share, compared to $4.0 million or $0.12 per share in the second quarter of 2011.

The fair value of the Company's holdings of securities as at June 30, 2012 was $368 million, or $11.43 per share, compared with $364 million, or $11.17 per share at December 31, 2011, and $403 million, or $12.23 per share at June 30, 2011.

Guardian Capital Group Limited is a diversified financial services company founded in 1962 and celebrating its 50th year in business. Guardian serves the wealth management needs of a range of clients through its various business segments. Guardian's operations include investment management; financial advisory; and corporate investments. Its Common and Class A shares are listed on The Toronto Stock Exchange.