News and Announcements
iFAST Reports Year-on-Year Increase of 21.3%
- Published October 30, 2015 5:10PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
29 October 2015, iFast Corporation
Healthy year-to-date growth in net profit, but net profit in 3Q2015 fell 0.5% YoY to S$2.95 million given the poor market conditions
- Net profit rose 21.3%YoY in 9M2015 to S$9.24 million
- Net revenue rose 1.9% YoY to S$10.14 million in 3Q2015 and 14.8% YoY in 9M2015 to S$31.38 million respectively
- Net sales in 3Q2015 stood at S$46 million and contributed positively to Assets under Administration (AUA), but the sell-off in global markets negatively affected the valuation of the Group’s investment products
- AUA rose 5.5% YoY to S$5.42 billion as at 30 September 2015, but declined compared to the 30 June 2015 level of S$5.71 billion due to the sell-off in global markets
- The Group’s wholly-owned China subsidiary was awarded a Funds Distributor Qualification from China Securities Regulatory Commission (CSRC) on 19 October 2015
In 3Q2015, the Group reported a YoY decrease of 0.5% in its net profit to S$2.95 million, while net revenue rose 1.9% YoY to S$10.14 million. Year-to-date to 30 September 2015 (9M2015), the Group’s net profit rose 21.3% YoY to S$9.24 million, while net revenue rose 14.8% YoY to S$31.38 million.
AUA rose 5.5% YoY to S$5.42 billion as at 30 September 2015, but declined compared to the 30 June 2015 level of S$5.71 billion. Net sales in 3Q2015 stood at S$46 million and contributed positively to AUA, but the sell-off in global markets negatively affected the valuation of the Group’s investment products.
To read the full announcement, please click here.
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