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GMP Reports Second Quarter 2020 Results

Toronto, July 31, 2020 - GMP Capital Inc. (GMP) (TSX: GMP) today reported a net loss from continuing operations of $1.8 million in second quarter 2020 compared with a net loss of $0.5 million in second quarter 2019.  The $1.3 million change from second quarter last year was due largely to several factors including:

  • $0.9 million in lower tax recoveries in second quarter 2020 compared with second quarter 2019;
  • $0.8 million decline in the net contribution from our former Emerging Markets operations this quarter compared with second quarter 2019;
  • $0.6 million decrease in GMP's proportionate share of Richardson GMP's net income/loss;
  • $0.4 million decrease in interest revenue reflecting a lower interest rate environment;
  • $0.3 million decrease in net contribution from our stock borrowing and lending business; and
  • partly offset by $1.7 million increase in other revenue largely due to higher carrying broker services provided to Stifel Nicolaus Canada Inc.’s (Stifel) capital markets business and higher foreign exchange revenue recorded in second quarter 2020.

“The results for the quarter are as expected pending the outcome of GMP’s Special Committee’s discussions on the potential consolidation of 100% ownership of Richardson GMP under GMP,” said Kishore Kapoor, Interim President and Chief Executive Officer, GMP. “While we await the outcome of these discussions, we continue to manage the business prudently and safely through these challenging times.  We are also encouraged by Richardson GMP’s assets under administration strong $4.8 billion or 20.4% bounce back from the March lows caused by the global market sell-off attributed to the COVID-19 pandemic,” added Kapoor.

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GMP Announces Second Quarter 2020 Earnings Release Date

TORONTO, ON. (July 9, 2020) – GMP Capital Inc. (GMP) (TSX: GMP) intends to release its second quarter 2020 financial results on Friday, July 31, 2020, at approximately 6:00 a.m. (EST).

SECOND QUARTER 2020 CONFERENCE CALL AND WEBCAST

A conference call and live audio webcast to discuss GMP’s second quarter results will be held that morning at 10:00 a.m. (EST).  The call will be open to the public. Interested parties are invited to access the quarterly conference call on a listen-only basis by dialing 416-406-0743 or 1-800-898-3989 (toll free) and entering the Service Confirmation Number 4330088, followed by a participant password: 5187791#. The conference call will also be accessible that morning as a live audio webcast through the Investor Relations section of our website at https://www.gmpcapital.com/Investor-Relations/Quarterly-Information.

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