Results are outGreat quarter, and results to current date are exceptional as well. It'll be interesting to see how the market responds to this over the next couple weeks.
TORONTO, Aug. 07, 2020 (GLOBE NEWSWIRE) -- Sprott Inc. (NYSE/TSX: SII) (“Sprott” or the “Company”) today announced its financial results for the three months ended June 30, 2020.
As previously disclosed, all financial figures are now reported in US dollars unless indicated otherwise.
Financial Overview (3 months results)
- Assets Under Management (“AUM”) were $13.9 billion as at June 30, 2020, up $3.2 billion (29%) from March 31, 2020.
- Total net revenues (net of commission expenses, trailer fees and sub-advisor fees, carried interest and performance fee payouts) were $28.3 million, reflecting an increase of $13.4 million (90%) from the 3 months ended June 30, 2019.
- Total expenses (excluding commission expenses, trailer fees and sub-advisor fees, carried interest and performance fee payouts) were $16.2 million, reflecting an increase of $2.5 million (18%) from the 3 months ended June 30, 2019.
- Net income was $10.5 million ($0.43 per share), reflecting an increase of $8.9 million from the 3 months ended June 30, 2019.
- Adjusted base EBITDA was $9.2 million ($0.38 per share), an increase of $2.2 million (31%) from the 3 months ended June 30, 2019.
Subsequent Events
- As at August 4, 2020, AUM was approximately $17 billion, an increase of 22% from June 30, 2020. The Company's AUM continues to grow significantly given strong net sales in its Exchange Listed Products segment, stronger gold and silver prices, and improving investment performance in its Managed Equities segment.