iFAST's Q1 profit surges 60.7%

iFAST Corporation's net profit rocketed 60.7 per cent to S$2.01 million in its first financial quarter, the group said in a Singapore Exchange filing on Friday.

Revenue jumped 18.3 per cent to S$22.1 million year-on-year. It was mainly due to the growth of the group's business and asset under administration (AUA) in the quarter, which surged 17.2 per cent to a record high of S$6.46 billion as at March 31, 2017.

Improved market sentiment from the second half of 2016 and the group's continuing efforts to broaden the range and depth of its investment products and services in recent years have led to the better performance, it said.

Net asset value climbed to 30.62 Singapore cents as at March 31, from 29.92 Singapore cents three months ago.

Diluted earnings per share edged up to 0.76 Singapore cents in Q1 2017, from 0.47 Singapore cents in the year-ago period.