iFast Q4 net profit more than doubles to S$6.8 million on higher revenue
Growth shows positive operating leverage, scalability, says group
Singapore
WEALTH management platform iFast Corporation on Friday reported a net profit of S$6.8 million for the fourth quarter ended Dec 31, 2020 up 127.5 per cent from S$3 million in the year-ago period.
The increase in net profit came on the back of a 41.6 per cent increase in revenue during the quarter. Revenue hit S$47.9 million as the group's assets under administration (AUA) rose to a record of S$14.45 billion as at Dec 31.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal