Canaccord Genuity Group has reported revenues of C$322.1m ($248m) for the fourth quarter of fiscal 2018, an increase of 18% compared to C$271.7m ($209.2m) a year ago.

For the quarter ended 31 March 2018, the company posted a net loss of C$9.7m compared to a net income of C$31m in the corresponding quarter of 2017.

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Canaccord Genuity Wealth Management generated revenues of C$117.6m globally, while Canaccord Genuity Wealth Management (North America) generated revenues of C$51.5m.

In North America, the company’s assets under administration totalled C$15.6bn at the end of March 2018, a surge of 18% from C$13.2bn last year. Discretionary assets under management in North America rose 7% year-on-year to C$2.8bn.

Canaccord Genuity Wealth Management (UK & Europe) earned C$64.9m in revenue. In the UK & Europe, assets under management (discretionary and non-discretionary) totalled C$44.9bn at the end of March 2018, a jump of 83% from C$24.5bn in the previous year.

Canaccord Genuity Group president and CEO Dan Daviau said: “Fiscal 2018 was a pivotal year for our organisation as we achieved our strategic goal of significantly increasing contributions from our global wealth management operations, while we continued to extract greater value from our global capital markets platform.

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“We delivered robust earnings growth and made excellent progress on our strategy of building a leading independent investment bank and wealth management firm, with disciplined expense management and stronger recurring revenue contributions.”