iFAST's Q2 profit jumps 93%

ONLINE investment products distributor iFAST Corp's Q2 net profit grew 93 per cent to S$2.21 million from S$1.14 million a year ago on the back of stronger sales and assets under administration in Singapore, Malaysia and Hoing Kong, the group said on Friday morning.

Earnings per share grew to 0.84 Singapore cents from 0.44 Singapore cents a year ago. The online mutual fund retailer is declaring a dividend of 0.68 Singapore cents per share, unchanged from its year-ago payout.

Revenue increased by 27.3 per cent to S$24.7 million from S$19.4 million the previous year as assets under administration rose 21.1 per cent to S$6.81 billion as at June 30, 2017.

Improved market sentiment from the second half of 2016 and the group's efforts to broaden the range and depth of its investments also contributed to its better performance, the company said.

Net asset value edged up to 30.1 Singapore cents as at June 30, from 29.92 Singapore cents six months ago.