UOB Kay Hian posts 33.9% rise in earnings to S$69.3 million

BROKERAGE firm UOB Kay Hian reported earnings of S$69.3 million for the first half ended Jun 30, up 33.9 per cent from S$51.8 million the year before. 

H1 FY2023 revenue grew 22.4 per cent to S$287.8 million, from S$235.2 million in the same period a year ago. 

Meanwhile, commission and trading income slipped 14.8 per cent to S$139.8 million on the back of lower market volume across regional and US markets, the brokerage said in a bourse filing on Tuesday (Aug 8). 

Interest income had, however, skyrocketed by 137.2 per cent to S$132 million, as a result of the current high interest-rate environment, it said. Other operating income also increased by a slight 3.9 per cent to S$16 million, and total income rose by 22.4 per cent to S$287.8 million. 

Earnings per share stood at S$0.0783 for H1 FY2023, from S$0.0599 in the year-ago period. 

No dividend was declared for the half-year. 

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Shares of UOB Kay Hian closed 1.5 per cent or S$0.02 higher at S$1.37 on Tuesday, before the announcement.