Euroz Hartleys doubles profit as Canaccord buys Wilson Advisory
The ASX-listed, WA stockbroker said the 88 per cent surge in full-year net profit to $10.3 million came on a revenue rise of just 10.6 per cent to $98.7m and was aided by increased activity by its dealmakers.
Euroz Hartleys, which services mainly mid-tier resources companies, said revenue from its deal underwriting and equity raisings grew 14 per cent to $38.5m as it participated in $1.6 billion of deals during the 2025 financial year, up $200m on the previous year.
However, it described the market for raisings as 'mostly overall lukewarm', and still off its peaks of a couple of years ago.
Euroz Hartleys has been linked to a potential tie-up with Bank of Montreal, confirming on Tuesday it was 'in the early stages of discussions regarding potential opportunities within the Australian market'.
The financial results were filed as Canada's Canaccord Genuity announced the purchase of east coast wealth management and advisory firm Wilsons Advisory, which only recently opened an office in Perth.
Canaccord, which bought Perth broker Patersons Securities six years ago, said the acquisition 'supports the company's strategy of increasing the scale of its wealth management operations and enhancing its capital markets capabilities in a key growth market'.
Wilsons pulls in about $81m of revenue a year and has $16.7b under advice.
Chief executive Brad Gale said the Canaccord tie-up delivered a more 'powerful Australian wealth management and capital markets business with greater scale, broader capabilities, and a stronger platform to support our clients while creating more opportunities for our people'.
Euroz Hartleys shares closed nearly 3 per cent better at 98¢, valuing the group at $161.5m.
Euroz merged with Perth rival Hartleys in 2021.
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