iFast surges 11.3% after strong Q2 net profit
This comes as the company posts a 37.9% increase in earnings for the period
[SINGAPORE] Shares of iFast surged just minutes after market open on Monday (Jul 28), after the digital bank and wealth management platform reported a strong second-quarter net profit on Friday.
The counter soared to S$8.16 as at 9.02 am, with 986,600 shares changing hands. It was up S$0.74 or nearly 10 per cent from its closing price of S$7.42 on Friday.
It hit an intraday peak of S$8.26 – 11.3 per cent higher than its last close – at 4.30 pm, with a trading volume of 7.1 million shares.
The counter ended the day at S$8.17, up 10.1 per cent, with 7.5 million shares transacted.
The company on Friday reported a net profit of S$22.1 million for Q2 FY2025, up 37.9 per cent from S$16 million in the same period last year.
Earnings per share were up at S$0.0731 from S$0.0538 for the corresponding period.
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