5 Positive Points That Investors Should Know About iFAST Corporation Ltd’s Latest Results

iFAST Corporation Ltd (SGX: AIY) is an Internet-based investment products distribution platform that has a presence in Singapore, Hong Kong, Malaysia, China and India. It has two main business divisions – one that caters to consumers (B2C) and the other that caters to businesses (B2B).

The company recently announced its 2017 fourth quarter (4Q FY17) earnings. In this article, I will look at some of the positive points to note from the latest quarterly results.

Source: iFAST 4Q FY17 Results Presentation

The above is a table summarising the key metrics of iFast’s latest quarterly performance. Overall, we can see that almost all of the metrics came in stronger on a year-on-year basis.

Drilling deeper, iFAST’s Assets Under Administration (AUA) increased 24.3% year-on-year to hit a record high of S$7.58 billion, as at 31 December 2017. The increase marked the sixth consecutive quarter of record AUA levels for the firm.

The growth in AUA was across the board, with Singapore, Hong Kong and Malaysia up by 19.3%, 27.4% and 52.0%, respectively, on a year-on-year basis.

Secondly, the group’s recurring revenue for full year FY17 grew to S$49.5 million from S$40.7 million a year ago, up by 21.4% year-on-year.

Thirdly, all regions (with the exception of China) grew the profitability in the latest quarter as compared to the same period last year.

Fourthly, its balance sheet remained strong with cash at bank and in hand standing at $30.9 million with no debt, as at 31 December 2017.

Last but not least, dividend per share grew by 10% from 0.75 cents last year to 0.90 cents in the latest quarter. This brings total dividend per share in 2017 to 3.01 cents, up 7.9% from 2016.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Lawrence Nga doesn’t own shares in any companies mentioned. Motley Fool has a recommendation for iFAST Corporation Ltd.