SNC - <span class="din">SNC-Lavalin announces its results for the second quarter and six-month period ended June 30, 2012</span> (CAD 0.22)

Company: Snc-Lavalin Sv
Stock Name: SNC
Amount: CAD 0.22
Announcement Date: 03/08/2012
Record Date: 15/08/2012

Dividend Detail:

---

Highlights

• 
  For the second quarter of 2012, net income attributable to SNC-Lavalin
  shareholders was $32.5��million ($0.21 per share on a diluted basis),
  compared to $102.2 million ($0.67 per share on a diluted basis) for the
  comparable quarter of 2011.
  
  
  


• 
  For the six-month period ended June 30, 2012, net income attributable to
  SNC-Lavalin shareholders�� was $99.6 million ($0.66 per share on a
  diluted basis), compared to $178.3��million ($1.17 per share on a
  diluted basis) for the same period of 2011.
  
  
  


• 
  Net income excluding Infrastructure Concession Investments was $44.0
  million for the six-month period ended June 30, 2012, compared to
  $112.2��million for the corresponding period in 2011. SNC-Lavalin's net
  income from Infrastructure Concession Investments was $55.6 million for
  the six��months ended June 30, 2012, compared to $66.1��million for the
  same period in 2011.
  
  
  


• 
  Revenues for the six-month period ended June 30, 2012, increased by
  11.5% to $3.7��billion, compared to $3.3��billion for the same period in
  2011.
  
  
  


• 
  Revenue backlog remained strong, totalling $10.7��billion at the end of
  June 2012, compared to $10.1��billion at the end of December 2011.
  
  
  


• 
  Financial position remained solid with cash and cash equivalents of
  $1.2��billion at June 30, 2012.
  
  
  


• 
  Return on average shareholders' equity was 14.8% for the 12-month period
  ended June 30, 2012.
  
  
  


• 
  The Board of Directors declared a cash dividend of $0.22 per share for
  the second quarter of 2012.
  

MONTREAL, Aug. 3, 2012 /CNW Telbec/ -

SNC-Lavalin Group Inc.

Financial Highlights (unaudited)

��

��

Second Quarter

��

Six months ended June 30

(in thousands of Canadian dollars, unless otherwise indicated)

��

2012

��

��

2011 (1)

��

��

2012

��

2011 (1)

��

Revenues by activity

��

��

��

��

��

��

��

Services

$

787,011

��

$

564,388

��

$

1,456,065

��

$

1,044,541

��

Packages

��

701,158

��

��

693,913

��

��

1,320,108

��

��

1,328,775

��

Operations and Maintenance

��

293,229

��

��

281,688

��

��

676,590

��

��

708,455

��

Infrastructure Concession Investments (ICI)

��

124,887

��

��

128,713

��

��

241,405

��

��

230,484

��

$

1,906,285

��

$

1,668,702

��

$

3,694,168

��

$

3,312,255

��

��

��

��

��

��

��

��

��

��

��

��

��

��

Net income excluding ICI

$

1,983

��

$

60,452

��

$

43,995

��

$

112,146

SNC-Lavalin's net income from ICI

��

30,511

��

��

41,745

��

��

55,628

��

��

66,124

Net income attributable to SNC-Lavalin shareholders

��

32,494

��

��

102,197

��

��

99,623

��

��

178,270

Net income attributable to non-controlling interests

��

200

��

��

2,649

��

��

417

��

��

5,395

Net income

$

32,694

��

$

104,846

��

$

100,040

��

$

183,665

��

��

Diluted earnings per share ($) ��

$

0.21

��

$

0.67

��

$

0.66

��

$

1.17

��

��

Shares outstanding (in thousands)

��

��

��

��

��

��

��

��

��

Weighted average number of outstanding shares - Basic

��

151,039

��

��

150,824

��

��

151,075

��

��

150,888

��

Weighted average number of outstanding shares - Diluted

��

151,198

��

��

151,956

��

��

151,414

��

��

152,148

��

��

Return on average shareholders' equity (ROASE) (2)

��

14.8%

��

��

25.0%

��

��

As at

��

��

As at

��

��

June 30

��

��

December 31

Revenue backlog by activity

��

2012

��

��

2011

��

Services

$

2,348,100

��

$

2,226,100

��

Packages

��

5,988,300

��

��

5,482,800

��

Operations and Maintenance

��

2,357,300

��

��

2,379,100

��

��

$

10,693,700

��

$

10,088,000

��

��

(1)	Refer to Note 14 to the unaudited interim condensed consolidated financial statements of the second quarter of 2012 for explanations relating to comparative figures.
(2)	Corresponds to the trailing 12-month net income attributable to SNC-Lavalin shareholders, divided by a trailing 13-month average equity attributable to SNC-Lavalin shareholders, excluding "other components of equity".

��

N.B.: All amounts indicated are in Canadian dollars.

SNC-Lavalin Group Inc. (TSX:SNC) announced its results today for the
second quarter and six-month period ended June 30, 2012.

Second Quarter Results

For the second quarter of 2012, net income attributable to SNC-Lavalin
shareholders was $32.5��million ($0.21 per share on a diluted basis),
compared to $102.2��million ($0.67 per share on a diluted basis) for the
comparable quarter of 2011. The net income excluding Infrastructure
Concession Investments ("ICI") was $2.0 million, compared to $60.5
million for the second quarter of 2011, mainly reflecting operating
losses in the Power and Infrastructure & Environment segments, as well
as a lower contribution from the Hydrocarbons & Chemicals segment. The
net income from ICI decreased to $30.5 million, compared to
$41.7��million for the second quarter of 2011, mainly due to lower
dividends from Highway 407, as a special dividend of $18.5 million was
declared and paid to the Company in the second quarter of 2011, as well
as a lower net income from Shariket Kahraba Hadjret En Nouss S.p.A.
("SKH"), partially offset by a higher net income from AltaLink.

For the second quarter of 2012, revenues increased by 14.2% to $1.9
billion, mainly due to an increase of 39.4% in the Services category.

Year-to-Date Results

For the six-month period ended June 30, 2012, net income attributable to
SNC-Lavalin shareholders was $99.6 million ($0.66 per share on a
diluted basis), compared to $178.3��million ($1.17 per share on a
diluted basis) for the same period of 2011. The net income excluding
ICI was $44.0 million, compared to $112.2 million for the first six
months of 2011, mainly reflecting lower contributions from the Power,
Hydrocarbons & Chemicals and Operations & Maintenance segments, as well
as an operating loss in the Infrastructure & Environment segment,
partially offset by a higher contribution from the Mining & Metallurgy
segment. For the same reasons given above, the net income from ICI
decreased to $55.6 million, compared to $66.1��million for the first six
months of 2011.

"The second quarter was difficult in terms of project execution, but we
are encouraged by our strong financial position and backlog," said Ian
Bourne, Vice-Chairman and Interim Chief Executive Officer, SNC-Lavalin
Group Inc.

The Company's financial position remained solid with cash and cash
equivalents totalling $1.2��billion as at June 30, 2012.

Revenues for the six-month period ended June 30, 2012, increased by
11.5% to $3.7 billion, compared to $3.3��billion for the same period in
2011, mainly due to an increase of 39.4% in the Services category.

Revenue backlog remained strong at $10.7��billion at the end of June
2012, compared to $10.1��billion at the end of December 2011, with
increases in the Services and Packages categories of activity.

The Company's return on average shareholders' equity was 14.8% for the
12-month period ended June 30, 2012.

Mr. Bourne also stated, "We are pleased with our progress in
implementing the remedial measures emanating from the internal
investigation conducted in the first quarter of 2012."

2012 Outlook Update

The Company is revising its previously announced 2012 Outlook for which
the expected 2012 net income was to be in line with full year 2011 net
income. Principally as a result of the unfavourable cost reforecasts of
approximately $50 million identified as part of ongoing project reviews
and recorded in the second quarter of 2012 on two major fixed-price
projects, one in the Power segment and one in the Hydrocarbons &
Chemicals segment, the 2012 net income is currently expected to be in a
range of $325 million to $340 million. This Outlook continues to be
based on (i) the expectation that the Power and Mining & Metallurgy
segments, mainly based on their current backlog,��and the
Infrastructure��Concession Investments segment will be the main
contributors to net income, while the Hydrocarbons &��Chemicals and
Infrastructure & Environment segments will continue to be challenging
throughout 2012, and (ii) the methodology described in the Company's
2011 Management's Discussion and Analysis under the heading "How We
Budget and Forecast Our Results", and which remains subject to the
risks and uncertainties described in the Company's public disclosure
documents.

Quarterly Dividends

The Board of Directors today declared a cash dividend of $0.22 per
share, payable on August 31, 2012, to shareholders of record on August
17, 2012. This dividend is an "eligible dividend" for income tax
purposes.



SNC-Lavalin is one of the leading engineering and construction groups in
the world and a major player in the ownership of infrastructure, and in
the provision of operations and maintenance services. SNC-Lavalin has
offices across Canada and in over 40 other countries around the world,
and is currently working in some 100 countries.�� www.snclavalin.com

Reference in this press release, and hereafter, to the "Company" or to "SNC-Lavalin" means, as the context may require, SNC-Lavalin Group Inc. and all or some of its subsidiaries or joint ventures, or SNC-Lavalin Group Inc. or one or more of its subsidiaries or joint ventures. Statements made in this press release that describe the Company's or management's budgets, estimates, expectations, forecasts, objectives, predictions or projections of the future may be "forward-looking statements", which can be identified by the use of the conditional or forward-looking terminology such as "anticipates", "believes", "estimates", "expects", "may", "plans", "projects", "should", "will", or the negative thereof or other variations thereon. The 2012 outlook referred to in this press release is forward-looking information and is based on the methodology described in the Company's 2011 Management's Discussion and Analysis under the heading "How We Budget and Forecast Our Results" and is subject to the risks and uncertainties described in the Company's public disclosure documents, including risks resulting from the Independent Review and the Company's continuing review of compliance matters. The purpose of the 2012 outlook is to provide the reader with an indication of management's expectations, at the date of this press release, regarding the Company's future financial performance and readers are cautioned that this information may not be appropriate for other purposes. The Company cautions that its actual actions and/or results could differ materially from those expressed or implied in forward-looking statements, or could affect the extent to which a particular projection materializes, as a result of risks and uncertainties relating to: (a) cost overruns from fixed-price contracts; (b) failure to meet scheduled dates or performance standards on a particular project; (c) attracting and retaining qualified personnel and any strike, partial work stoppage or other labour actions by the Company's or its subcontractors' unionized employees; (d) failure of the Company's joint venture partners to perform their obligations; (e) failure by the Company's subcontractors to deliver their portion of a particular project according to contractual terms; (f) the financial performance of the Company's infrastructure concession investments during a particular concession period; (g) the Company obtaining new contract awards; (h) revenue backlog and whether such revenue backlog will ultimately result in earnings and when revenues and earnings from such backlog will be recognized; (i) foreign currency exchange and interest rates; (j) credit risk and the delay in collection from the Company's clients; (k) information management including its integrity, reliability and security; (l) the inherent limitations of the Company's control framework and the effectiveness of the measures implemented by the Company to strengthen its internal controls over financial reporting following the identification by the Company of material weaknesses relating to the design and operational effectiveness of its internal controls over financial reporting; (m) uncertain economic and political conditions in the countries in which the Company does business; (n) any lack of strong safety practices by the Company or its subcontractors exposing the Company to lost time on projects, penalties, lawsuits and impact on future contract awards; (o) the Company's inability to comply with environmental laws and regulations; (p) the Company's reputation as a result of, among others, any quality or performance issues on its projects, a poor health and safety record, non-compliance with laws or regulations by the Company's employees, agents, subcontractors, suppliers and/or partners, or creation of pollution and contamination; (q) the inability to adequately integrate an acquired business in a timely manner; (r) non-compliance with laws and regulations by an employee, agent, supplier, subcontractor and/or partner of the Company or any further regulatory developments; (s) failure by the Company's employees, agents, suppliers, subcontractors and/or partners to comply with anti-bribery laws; (t) any litigation and/or legal matters to which the Company is a party; (u) any negative publicity associated with the Independent Review led by the Company's Audit Committee of the facts and circumstances surrounding certain payments that were documented to construction projects to which they did not relate, and certain other contracts, as well as any sanctions that could be brought against the Company in connection with possible violations of law or contracts should additional facts adverse to the Company become known in connection with such Independent Review including as to matters beyond its scope; (v) the proposed class action lawsuits against the Company with the Ontario Superior Court and the Quebec Superior Court; and (w) the investigations of the Royal Canadian Mounted Police and the World Bank principally relating to an unsuccessful bid by a subsidiary to act for the Bangladeshi government in supervising a project contractor. For more information on risks and uncertainties, and assumptions that would cause the Company's actual results to differ from current expectations, please refer to the section "Risks and Uncertainties" and the section "How We Analyze and Report our Results", respectively, in the Company's 2011 Financial Report under "Management's Discussion and Analysis" and the section "Risks and Uncertainties" in the Company's second quarter 2012 Management's Discussion and Analysis. The forward-looking statements herein reflect the Company's expectations as at the date of this press release and are subject to change after this date. The Company does not undertake any obligation to update publicly or to revise any such forward-looking statements, unless required by applicable legislation or regulation.

SNC-Lavalin's Consolidated Financial Statements and Management's
Discussion and Analysis and other relevant financial materials are
available in the Investor Relations section of the Company's website at
www.snclavalin.com. These and other Company reports are also available on the website
maintained by the Canadian Securities regulators at www.sedar.com.

��

SOURCE: SNC-LAVALIN

For further information:

Investors:
Denis Jasmin
Vice-President, Investor Relations
514-390-8000, ext. 7553
denis.jasmin@snclavalin.com

Media:
Leslie Quinton
Senior Vice-President, Global Corporate Communications
514-390-8000, ext. 7354
leslie.quinton@snclavalin.com

GMP - <span class="din">GMP Capital Inc. Reports Second Quarter 2012 Results</span> (CAD 0.05)

Company: Gmp Capital Inc.
Stock Name: GMP
Amount: CAD 0.05
Announcement Date: 03/08/2012
Record Date: 06/09/2012

Dividend Detail:

---

For further information about GMP Capital Inc., our results for second
quarter 2012 and the meaning of certain references, this quarterly
earnings release should be read in conjunction with our Second Quarter
2012 Financial Statements and Management's Discussion and Analysis for
the three and six months ended June 30, 2012, which can be accessed on
our website at gmpcapital.com and on SEDAR at sedar.com. Unless otherwise indicated, all amounts are expressed in Canadian
dollars and have been taken from our Second Quarter 2012 Financial
Statements prepared in accordance with International Financial
Reporting Standards ("IFRS").

TORONTO, Aug. 3, 2012 /CNW/ - GMP Capital Inc. ("GMP") (TSX: GMP) today reported revenue of $62.7 million in second quarter
2012, representing a 7% decrease compared with the same period a year
ago. GMP recorded a net loss of $0.4 million and a net loss
attributable to common shareholders of $4.1 million ($0.06 net loss per
basic share) in second quarter 2012 compared with net income of $5.1
million and net income attributable to common shareholders of $2.7
million ($0.04 per basic share) in second quarter 2011.�� This quarter's
results continued to be affected by the adverse market conditions.

"The fragility of the capital markets environment has been exacerbated
by ongoing European sovereign debt concerns and an anaemic global
economic outlook.�� The resulting negative market sentiment has led to a
significant retrenchment of risk among investors contributing to a
sharp contraction in capital markets activity," said Harris Fricker,
Chief Executive Officer, GMP.�� "Not surprisingly, the pace of client
trading and equity underwriting activity has slowed considerably with
the severity of this downturn.�� Despite the unfavourable market
conditions, we are pleased with the performance of our M&A franchise,
which delivered solid results this quarter, and our new high yield
business which continued to gain momentum as we married our
traditionally strong origination ability with a first-rate distribution
network via GMP Securities, LLC."��

FINANCIAL HIGHLIGHTS

Second Quarter 2012 versus Second Quarter 2011

• 
  Net loss of $0.4 million compared with net income of $5.1 million
  

• 
  Net loss attributable to common shareholders of $4.1 million compared
  with net income attributable to common shareholders of $2.7 million
  

• 
  Net loss per basic share of $0.06 compared with earnings per basic share
  of $0.04
  

• 
  Annualized return on common shareholders' equity ("ROE")¹ was negative 6.8% compared with positive 3.7%
  

• 
  Excluding the share-based compensation expense (the "Retention Shares")
  recorded in second quarter 2012 in connection with the common shares
  issued to certain key employees of GMP Securities, LLC ("GMP USA"),
  adjusted net income¹ was $0.6 million, adjusted net loss per basic share¹ was $0.05 and adjusted annualized ROE¹ was negative 5.2%
  

First Half 2012 versus First Half 2011

• 
  Net loss of $0.2 million compared with net income of $31.3 million
  

• 
  Net loss attributable to common shareholders of $6.4 million compared
  with net income attributable to common shareholders of $25.1 million
  

• 
  Net loss per basic share of $0.10 compared with earnings per basic share
  of $0.37
  

• 
  Annualized ROE¹ was negative 5.2% compared with positive 16.6%
  

• 
  Excluding the expense related to the Retention Shares recorded in first
  half 2012, adjusted net income¹ was $1.8 million, adjusted net loss per basic share¹ was $0.07 and adjusted annualized ROE¹ was negative 3.6%
  

• 
  Excluding costs recorded in connection with the redemption of our long
  term debt in first half 2011, adjusted net income¹ was $35.2 million, adjusted net income per basic share¹ was $0.42 and adjusted annualized ROE¹ was 19.0%
  

Commenting further, Mr. Fricker said, "In light of the prolonged
downturn in the capital markets and uncertainty as to timing of
sustained global economic recovery, we remain focused on preserving our
considerable capital strength, closely monitoring and managing risk and
limiting costs.�� Despite market conditions, we continue to invest in
our franchise and we believe we have the people, platform and product
capabilities that will allow us to excel in normalized markets."

SECOND QUARTER 2012 BUSINESS HIGHLIGHTS

CAPITAL MARKETS

• 
  Revenue of $56.4 million, a decrease of 7% compared with second quarter
  2011 primarily due to lower commission revenue reflecting lower client
  trading volumes and lower equity underwriting activity, particularly in
  the Canadian resource sectors.�� Partly offsetting these decreases was a
  year-over-year increase in advisory revenue and improved debt
  underwriting results as we continue to grow our fixed income franchise.
  
  
  
  
  


• 
  Expenses of $53.4 million, an increase of 10% compared with second
  quarter 2011 primarily reflecting the incremental costs associated with
  GMP USA acquired in third quarter 2011 and our Australian operations
  which were launched in second quarter 2011.
  
  
  
  
  


• 
  Income before income taxes of $3.1 million in second quarter 2012
  compared with $12.1 million in second quarter 2011.
  

GMP Securities L.P. ("GMP Securities") Highlights:

• 
  ranked eighth in the dollar value of common equity underwriting
  transactions completed in Canada for which we were lead or co-lead;²
  
  
  
  
  


• 
  ranked sixth in equity block trading volumes on the Toronto Stock
  Exchange and TSX Venture Exchange, achieving a 5.0% market share;³
  
  
  
  
  


• 
  participated in 47 underwriting transactions completed in Canada helping
  raise approximately $3.7 billion on behalf of clients, leading or
  co-leading 10 of these transactions with an aggregate dollar value of
  $1.1 billion;⁴ and
  
  
  
  
  


• 
  advised on seven M&A transactions announced in Canada valued at US$1.8
  billion⁵.
  

WEALTH MANAGEMENT

• 
  The Wealth Management segment is comprised of GMP's non-controlling
  ownership interest in Richardson GMP Limited ("Richardson GMP").��
  Wealth Management reported a loss before income taxes of $0.7 million
  in second quarter 2012 compared with income before income taxes of $0.5
  million in second quarter 2011.�� Wealth Management's second quarter
  2012 results reflect lower operating performance by Richardson GMP
  primarily due to lower client trading volumes as a result of the
  continued challenging market environment.��
  

Richardson GMP Highlights (100% basis):

• 
  assets under administration¹ of $13.7 billion; and
  
  
  
  
  


• 
  111 investment advisory teams strategically located in offices across
  Canada.
  

ALTERNATIVE INVESTMENTS

• 
  Revenue of $2.0 million, a decrease of 28% compared with second quarter
  2011 due primarily to the deconsolidation of EdgeStone Capital
  Partners, L.P. from GMP's financial results in fourth quarter 2011;
  
  
  
  
  


• 
  loss before income taxes of $1.2 million compared with a loss before
  income taxes of $1.1 million in second quarter 2011;
  
  
  
  
  


• 
  GMP Investment Management L.P. ended the quarter with assets under
  management¹ of $578 million; and
  
  
  
  
  


• 
  generated a return of 12.0% in first half 2012 for the Canadian ABCP
  Fund L.P., net of management fees and other expenses.
  

DIVIDENDS

On August 2, 2012, GMP's board of directors declared a quarterly cash
dividend of $0.05 per common share and a quarterly cash dividend of
$0.3438 per Cumulative 5-Year Rate Reset Preferred Share, Series B,
each payable on September 30, 2012⁶, to the respective shareholders of record at the close of business on
September 10, 2012.

____________________________________

¹ Considered to be a non-GAAP financial measure. This measure does not
have any standardized meaning prescribed by generally accepted
accounting principles ("GAAP") under IFRS and is therefore unlikely to
be comparable to similar measures presented by other issuers.�� This
data should be read in conjunction with the "Non-GAAP Measures" section
at the end of this press release and the "Presentation of Financial
Information and Non-GAAP Measures" section in the second quarter 2012
Management's Discussion and Analysis.

² Source: FPinfomart as at July 9, 2012.

³ Source: CanadaEquity.com as at July 9, 2012.

⁴ Source: GMP Capital Inc. internal reports as at July 9, 2012.

⁵ Source: Mergermarket as at July 9, 2012.

⁶ In the event that the payment date is not a business day, such dividend
shall be paid on the next succeeding day that is a business day.

CONFERENCE CALL

GMP executives will host a conference call and live audio webcast today
at 10:00 a.m. (ET) to discuss GMP's second quarter 2012 results.��
Interested parties are invited to access the conference call by dialing
416-644-3415 or 1-877-974-0445 (toll free) or via live audio webcast at
http://www.gmpcapital.com/investor.�� A recording of the conference call will be available until Friday,
August 10, 2012, by dialing 416-640-1917 or 1-877-289-8525 (toll free)
and entering access code 4546890#. The webcast will be archived at http://www.gmpcapital.com/investor.

NON-GAAP MEASURES

Consistent with GMP's management framework, management uses certain
measures to assess GMP's financial performance, which are not GAAP
measures under IFRS. These measures do not have any standardized
meaning prescribed by GAAP and are therefore unlikely to be comparable
to similar measures presented by other issuers. Non-GAAP measures
should not be considered as alternatives to net income or comparable
metrics determined in accordance with IFRS as indicators of GMP's
performance, liquidity, cash flows and profitability.�� For further
information refer to the "Presentation of Financial Information and
Non-GAAP Measures" section in the second quarter 2012 Management's
Discussion and Analysis.

The following table provides a reconciliation of GMP's reported results
to its adjusted measures:

($000s, except as otherwise noted)

��

��

Three months ended June 30, 2012

��

��

Six months ended June 30, 2012

��

��

Six months ended June 30, 2011

��

��

��

��

��

��

��

��

��

��

��

��

��

Reported Results

��

��

��

��

��

��

��

��

��

��

��

��

(Loss) income before income taxes

��

��

��

(809)

��

��

��

(942)

��

��

��

42,415

Income tax (benefit) expense

��

��

��

(433)

��

��

��

(777)

��

��

��

11,092

Net (loss) income

��

��

��

(376)

��

��

��

(165)

��

��

��

31,323

Net (loss) income attributable to common shareholders

��

��

��

(4,087)

��

��

��

(6,375)

��

��

��

25,120

�� ��

��

��

��

��

��

��

��

��

��

��

��

��

Reported Measures �� ��

��

��

��

��

��

��

��

��

��

��

��

��

Net (loss) income per common share �� ��

��

��

��

��

��

��

��

��

��

��

��

��

��

Basic

��

��

��

($0.06)

��

��

��

($0.10)

��

��

��

$0.37

��

Diluted 1

��

��

��

($0.06)

��

��

��

($0.10)

��

��

��

$0.33

Average common equity

��

��

��

240,248

��

��

��

243,787

��

��

��

302,311

Return on common equity 2

��

��

��

(6.8%)

��

��

��

(5.2%)

��

��

��

16.6%

��

��

��

��

��

��

��

��

��

��

��

��

��

Pre-tax Impact of Adjusting Items

��

��

��

��

��

��

��

��

��

��

��

��

Corporate Segment

��

��

��

��

��

��

��

��

��

��

��

��

��

Charges to Interest expense - Redemption of senior unsecured notes 3

��

��

��

���

��

��

��

���

��

��

��

5,466

Capital Markets Segment

��

��

��

��

��

��

��

��

��

��

��

��

��

Charges to Employee compensation and benefits - Deferred share-based awards 4

��

��

��

1,758

��

��

��

3,502

��

��

��

���

Impact of adjusting items on income before income taxes

��

��

��

1,758

��

��

��

3,502

��

��

��

5,466

�� �� �� ��

��

��

��

��

��

��

��

��

��

��

��

��

After-Tax Impact of Adjusting Items �� �� ��

��

��

��

��

��

��

��

��

��

��

��

��

��

Redemption costs associated with senior unsecured notes

��

��

��

���

��

��

��

���

��

��

��

3,908

��

Cost of deferred share-based awards

��

��

��

981

��

��

��

1,956

��

��

��

���

Impact of adjusting items on:

��

��

��

��

��

��

��

��

��

��

��

��

��

Net income

��

��

��

981

��

��

��

1,956

��

��

��

3,908

��

Net income attributable to common shareholders

��

��

��

981

��

��

��

1,956

��

��

��

3,908

��

Net income per common share:

��

��

��

��

��

��

��

��

��

��

��

��

��

��

Basic

��

��

$

0.01

��

��

$

0.03

��

��

$

0.06

��

��

Diluted

��

��

$

0.01

��

��

$

0.03

��

��

$

0.05

��

��

��

��

��

��

��

��

��

��

��

��

��

Adjusted Results 5

��

��

��

��

��

��

��

��

��

��

��

��

Income before income taxes

��

��

��

949

��

��

��

2,560

��

��

��

47,881

Income tax expense

��

��

��

344

��

��

��

769

��

��

��

12,650

Net income

��

��

��

605

��

��

��

1,791

��

��

��

35,231

Net (loss) income attributable to common shareholders

��

��

��

(3,106)

��

��

��

(4,419)

��

��

��

29,028

��

��

��

��

��

��

��

��

��

��

��

��

��

Adjusted Measures 5

��

��

��

��

��

��

��

��

��

��

��

��

Net (loss) income per common share

��

��

��

��

��

��

��

��

��

��

��

��

��

Basic

��

��

$

(0.05)

��

��

$

(0.07)

��

��

$

0.42

��

Diluted ��

��

��

$

(0.05)

��

��

$

(0.07)

��

��

$

0.38

Average common equity

��

��

��

240,738

��

��

��

244,764

��

��

��

305,242

Return on common equity

��

��

��

(5.2%)

��

��

��

(3.6%)

��

��

��

19.0%

1										��	In the case of a net loss, the effect of common share options and warrants potentially exercisable and the impact of shares pledged on share purchase loans and other common shares subject to vesting conditions under stock-based compensation programs on diluted net loss per common share will be anti-dilutive; therefore, basic and diluted net loss per common share will be the same.
��										��	��
2										��	Considered to be a non-GAAP financial measure.�� Return on common equity does not have any standardized meaning prescribed by GAAP under IFRS and is therefore unlikely to be comparable to similar measures presented by other issuers.�� This data should be read in conjunction with the "Presentation of Financial Information and Non-GAAP Measures" section in the Second Quarter 2012 Management's Discussion and Analysis.
��										��	��
3										��	Represents the impact of the one-time redemption costs (the "Redemption Costs") recorded in connection with the redemption of all of the outstanding senior unsecured notes issued by Griffiths McBurney L.P., an indirect, wholly-owned subsidiary of GMP.
��										��	��
4										��	Represents the share-based compensation expense recorded in connection with the common shares issued to certain key employees of GMP USA in connection with our acquisition of GMP USA in third quarter 2011.
��										��	��
5										��	Adjusted results and measures are considered to be non-GAAP financial measures.�� These measures do not have any standardized meaning prescribed by GAAP under IFRS and are therefore unlikely to be comparable to similar measures presented by other issuers.�� The table above outlines such measures with their closest GAAP counterparts. Management believes that presenting certain results and measures on an adjusted basis which excludes the impacts of specified items may be more reflective of ongoing operating results and provides readers with an enhanced understanding of how management views GMP's core performance. Management assesses performance on both a reported and an adjusted basis and considers both bases to be useful in assessing underlying, ongoing business performance. Presenting results on both bases also permits readers to assess the impact of the specified items on the results for the periods presented.

��

FORWARD-LOOKING INFORMATION This press release contains "forward-looking information" as defined under applicable Canadian securities laws.���� This information includes, but is not limited to, statements concerning our 2012 objectives, our strategies to achieve those objectives, as well as statements made with respect to management's beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Forward-looking information generally can be identified by the use of forward-looking terminology such as "outlook", "objective", "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue", or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management. Forward-looking information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in this press release. GMP's primary business activities are both competitive and subject to various risks. These risks include market, credit, liquidity, operational and legal and regulatory risks and other risk factors including, without limitation, variations in the market value of securities, the volatility and liquidity of equity and fixed income trading markets, the volume of new financings and mergers and acquisitions ("M&A"), dependence on key personnel and sustainability of fees. Other factors, such as general economic conditions, including interest rate and exchange rate fluctuations, may also have an effect on GMP's results of operations. Many of these risks and uncertainties can affect GMP's actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking information disclosed by management or on its behalf.�� For a description of additional risks that could cause our actual results to materially differ from our current expectations, see the "Risk Management" section in the Second Quarter 2012 MD&A and "Risk Factors" in GMP's annual information form dated March 13, 2012. These risks and uncertainties are not the only ones facing GMP, together with its consolidated operations controlled by it (the "GMP Group").�� Additional risks and uncertainties not currently known to us or that that we currently consider immaterial, may also impair the operations of the GMP Group. Material assumptions or factors underlying the forward-looking information contained in this press release are set out in the "Business Environment and Market Outlook" section of the Second Quarter 2012 MD&A and include, without limitation: further escalation of the sovereign debt crisis in Europe, slowing growth in emerging markets, the increasing debt burden in the U.S., and the ongoing fragile prospects for global economic recovery. Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. Certain statements included in this press release may be considered a "financial outlook" for purposes of applicable Canadian securities laws, and as such the financial outlook may not be appropriate for purposes other than this press release. The forward-looking information contained in this press release is made as of the date of this press release, and should not be relied upon as representing GMP's views as of any date subsequent to the date of this press release. Except as required by applicable law, management and the Board of Directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

ABOUT GMP CAPITAL INC.

GMP Capital Inc. ("GMP") is a leading independent diversified financial
services firm headquartered in Toronto, Canada, providing a wide range
of financial products and services to a client base that includes
corporate clients, institutional investors and high-net-worth
individuals in three integrated reporting segments. The Capital Markets
segment provides investment banking, including advisory and
underwriting services, institutional sales and trading and research
through offices located in Toronto, Montreal, Calgary, New York, Miami,
Dallas, London, Perth and Sydney.�� The Capital Markets segment conducts
its business through the following operating entities: GMP Securities
L.P., GMP Securities, LLC, Griffiths McBurney Corp., GMP Securities
Europe LLP and GMP Securities Australia Pty Limited. Wealth Management
consists of GMP's non-controlling ownership interest in Richardson GMP
Limited, a full-service independent firm focused on providing exclusive
and comprehensive wealth management and investment services delivered
by an experienced team of investment professionals. The Alternative
Investments segment consists of the investment management and
alternative investment products provided by GMP Investment Management
L.P. GMP is listed on the Toronto Stock Exchange under the symbol
"GMP". For further information, please visit our corporate website at gmpcapital.com.

SOURCE: GMP Capital Inc.

For further information:

GMP Capital Inc.
Rocco Colella, Director, Investor Relations
145 King Street West, Suite 300, Toronto, Ontario M5H 1J8
Tel: (416) 941-0894; Fax: (416) 943-6175
rcolella@gmpcapital.com or��investorrelations@gmpcapital.com