- 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 2 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
