UOB Kay Hian's Q3 profit falls 26% on low trading volumes
BROKERAGE UOB Kay Hian's third-quarter net profit fell 26 per cent to S$14.7 million from a year earlier, as trading volumes in the major regional markets it operates in remained low.
Commission income in the three months to Sept 30, 2016, fell 11.8 per cent to S$51.2 million. Interest income dropped 6.4 per cent from a year earlier to S$19.6 million, on lower financing activities.
Other operating revenue grew 11.7 per cent to S$5.9 million, with higher corporate finance activities.
Earnings per share were 1.87 Singapore cents, down from 2.56 Singapore cents a year earlier.
UOB Kay Hian shares closed unchanged at S$1.31 on Tuesday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TSMC posts first profit growth in a year after global AI boom
Latest Singapore one-year T-bill offers cut-off yield of 3.58%
Huawei starts sales of new Pura 70 smartphone amid scrutiny on chips
Binance converts its billion-dollar ‘Safu’ emergency fund into USDC
BHP to decide on future of nickel business by August, trims met coal estimates
South Korea’s LG Electronics plans to raise up to US$1 billion with dollar bonds: sources