iFAST Corporation, the online distributor of investment products, reported a 41.3% growth in earnings to $12.1 million for FY2015 ended Dec.
If IPO expenses of $1.9 million were excluded, earnings growth would have hit 15.1%.
Revenue rose 8.9% to $85.3 million for the full year to December, on the back of the stable growth coming from Singapore and included maiden revenue from an online bonds distribution business that was launched in 2Q. The Singapore operations reported a 12.7% growth in revenue contribution to $61.2 million for the full year.
The group also saw strong growth in its assets under administration from its Malaysia operations which rose 50.8% to $4.6million. However, revenue from Hong Kong fell 6.8% to $19.6 million from the volatile equity market sentiment, and the slowdown in investment subscription volumes after the suspension of the Capital Investment Entrant Scheme in January 2015.
IFAST also recorded a $1.3 million increase in other operating income from the increase in investment income during the period.
iFAST says the volatility in financial markets in the short term and the medium to long term are expected to significantly affect the group’s revenue and profitability, and the downturns in the global equity markets in 2016 will impact its 1QFY2016 results. However, it has guided that it will distribute 60% of its earnings as dividends for FY2016.
The group has declared a final dividend of 0.75 cents for the current financial period.
iFAST’s shares last traded at $1.24.
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If IPO expenses of $1.9 million were excluded, earnings growth would have hit 15.1%.
Revenue rose 8.9% to $85.3 million for the full year to December, on the back of the stable growth coming from Singapore and included maiden revenue from an online bonds distribution business that was launched in 2Q. The Singapore operations reported a 12.7% growth in revenue contribution to $61.2 million for the full year.
The group also saw strong growth in its assets under administration from its Malaysia operations which rose 50.8% to $4.6million. However, revenue from Hong Kong fell 6.8% to $19.6 million from the volatile equity market sentiment, and the slowdown in investment subscription volumes after the suspension of the Capital Investment Entrant Scheme in January 2015.
IFAST also recorded a $1.3 million increase in other operating income from the increase in investment income during the period.
iFAST says the volatility in financial markets in the short term and the medium to long term are expected to significantly affect the group’s revenue and profitability, and the downturns in the global equity markets in 2016 will impact its 1QFY2016 results. However, it has guided that it will distribute 60% of its earnings as dividends for FY2016.
The group has declared a final dividend of 0.75 cents for the current financial period.
iFAST’s shares last traded at $1.24.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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