5 Positive Points Investors Should Know From iFAST Corporation Ltd’s Latest Earnings Update

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 ones that caters to financial advisors (B2B).

The company released its 2018 first quarter earnings update in late April. Here are five key positive points to note:

1. 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. The increase, which marked the seventh consecutive quarter of record AUA levels for the company, was also across the board: Singapore, Hong Kong, and Malaysia’s AUA were up by 17.6%, 32.6%, and 44.3%, respectively, on a year-on-year basis.

2. iFAST’s recurring net revenue for the reporting quarter was up by 22.6% year-on-year to S$11.5 million.

3. All of iFAST’s geographical markets, (with the exception of China) saw an increase in profit in the reporting quarter compared to a year ago.

4. The company’s balance sheet remained strong with cash and cash equivalents of S$20.6 million, and total debt of just S$17,000, as of 31 March 2018.

5. iFAST hiked its dividend per share by 10.3% from 0.68 cents per share in 2017’s first quarter to 0.75 cents.

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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 Ltd.