The Motley Fool

iFAST Corporation Ltd’s Latest Result: Higher AUA, Revenue, And Profit

Last Saturday, iFAST Corporation Ltd (SGX: AIY) announced its third quarter earnings update for 2018. The company delivered strong growth in revenue and profit, backed by an increase in assets under administration (AUA).

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

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Without further ado, we will look at 10 things that investors should know from its latest earnings update:

1. Net revenue increased 18.8% year-on-year to S$15.5 million.

2. Operating profit was up 27.8% year-on-year to S$ 2.9 million

3. Net profit for the period grew 29.7% year-on-year to S$2.5 million.

4. Similarly, earnings per share (EPS) was up by 28.9% year-on-year to 0.98 Singapore cents.

5. Operating profit margin for the quarter was 19%16.4%, a decline up from 17.7% in the same period last year.

6. iFAST’s AUA increased 18.7% year-on-year to hit a record high of S$8.50 billion as at 30 September 2018, boasting growth across Singapore, Hong Kong and Malaysia.

7. For the latest quarter, iFAST generated operating cash flow of S$3.6 million, up from S$3.2 million a  year ago.

8. As of 30 September 018, iFAST had cash and cash equivalents together with other investments of around S$58 million and around S$10 million in debt.

9. Net revenue for Singapore, Hong Kong, Malaysia and China was up by 13.4%, 25.7%, 52.7% and 6.4%, respectively, compared to a year ago.

10. The company recommended a dividend per share of 0.75 cents for the quarter, unchanged from the same period last year.

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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.