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iFAST Corporation Ltd’s Profit Jumps 53% In Latest Quarter

Last week, iFAST Corporation Ltd (SGX: AIY) released its 2018 first quarter earnings update. As a quick introduction, iFAST is an Internet-based investment products distribution platform that has a presence in Singapore, Hong Kong, Malaysia, China, and India.

Here are nine important things investors should know from the company’s latest results:

1. Net revenue for the quarter grew 28.7% year-on-year to S$14.4 million.

2. Operating profit did better, climbing by 41.5% to S$2.78 million.

3. Net profit attributable to shareholders did even better, jumping by 52.6% to S$2.75 million.

4. Similarly, diluted earnings per share (EPS) was up by 50% to 1.02 cents.

5. iFAST’s assets under administration (AUA) increased by 24.8% year-on-year to hit a record high of S$8.07 billion as of 31 March 2018, with double-digit growth in AUA in Singapore, Hong Kong, and Malaysia.

6. For the reporting quarter, iFAST generated operating cash flow of S$1.01 million, down from S$2.8 million a year ago.

7. As of 31 March 2018, iFAST’s balance sheet housed S$20.6 million in cash and money market fund investments, and zero debt.

8. Net revenue for Singapore, Hong Kong, Malaysia, and China were up by 21.5%, 41.9%, 51.1%, and 216.4%, respectively, on a year-on-year basis.

9. The company recommended a dividend per share of 0.75 cents, up 10.3% from a year ago. 

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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. The Motley Fool Singapore has a recommendation for iFAST Corporation.