iFAST Corporation - DBS Research 2024-02-22: Margins Trending Higher

iFAST Corporation - Margins Trending Higher

iFAST (SGX:AIY) | SGinvestors.ioiFAST (SGX:AIY)
  • iFAST (SGX:AIY) reported 4Q23 net profit of S$13.2m (+917% y-o-y, +55% q-o-q). Total revenue jumped 63% y-o-y (+24% q-o-q) to S$77.3m.

Strong surge in 4Q/FY23 earnings, above expectations.

  • - Read this at SGinvestors.io -
  • Dividend of 1.4 cents was proposed for 4Q23, bringing full year dividend to 4.8 cents, reflecting a 50% payout ratio for FY23. See iFAST's dividend payout dates.
  • AUA up 13.8% y-o-y to reach a record high of S$19.83bn as at 31 December 2023, driven by net inflows of S$2.0bn during the year. This outperformed the MSCI AC Asia ex Japan index, which saw a 6.3% y-o-y increase.

Singapore saw healthy growth, Hong Kong market boosted by eMPF project.

  • - Read this at SGinvestors.io -
  • The strong performance for the Hong Kong market was mainly boosted by the contribution from the eMPF project which started in 3Q23.

UK Bank to breakeven in 4Q24; China still loss-making.

  • Read more at SGinvestors.io.

Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.

Lee Keng LING DBS Group Research | https://www.dbs.com/insightsdirect/ 2024-02-22

Read also DBS's most recent report:
2024-04-26 iFAST Corporation - ePension Business Progressing Well.

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


You May Also Like

SGX Stock / REIT Search


Most Read

Trust Bank God Of Fortune Referral Code PGKPSWAE Trust Bank Referral Code 🎁