- iFAST (SGX:AIY) recorded 4Q23 PATMI of S$13.2m in 4Q23 (+55% q-o-q, +917% y-o-y from S$1.3m in 4Q22). This was 21% below our estimates but 20% above Bloomberg consensus. This brought FY23 net profit to S$28.3m (FY22: S$6.4m), which was 11% below our estimates.
4Q23 PATMI missed our estimates due to heftier operating expenses
- - Read this at SGinvestors.io -
- iFAST declared a final dividend of 1.4 cents in 4Q23 (4Q22: 1.4 cents).
ePension guidance revised due to delayed onboarding of trustees
- A key update from its 4Q23 earnings was that iFAST cut its FY24-25F revenue and net revenue guidance for its Hong Kong and ePension business, but maintained its corresponding pretax profit estimates.
- - Read this at SGinvestors.io -
iFAST Global Bank gaining traction; aims to break even in 4Q24F
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGSI Research.
Clients of CGS International may access the full report in PDF @ https://itrade.cgsi.com.sg/.
Andrea CHOONG CGS International Research | https://itrade.cgsi.com.sg 2024-02-23
Price targets by other brokers at iFAST Target Prices.
Listing of research reports at iFAST Analyst Reports.
Relevant links:
iFAST Share Price History,
iFAST Announcements,
iFAST Dividends & Corporate Actions,
iFAST News Articles
